Mechanisms of neoliberal resilience: Comparing exchange rates and industrial policy in Chile and Estonia

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dc.contributor.authorMadariaga, Aldo
dc.date.accessioned2024-04-30T15:08:15Z
dc.date.available2024-04-30T15:08:15Z
dc.date.issued2017-07
dc.descriptionIndexación: Scopus
dc.description.abstractThe global financial crisis has stimulated much research about the resilience of neoliberalism. However, concrete mechanisms of neoliberal resilience are yet to be elaborated. This article elaborates such mechanisms by incorporating Amable's notion of institutional hierarchy into Mahoney and Thelen's gradual institutional change theory. In doing this, it provides a dynamic and politically grounded framework to analyze institutional resilience. Neoliberalism is maintained over time because dominant social blocs defend those policies and institutions that they perceive as more favorable to their interests (high-hierarchy institutions), while allowing degrees of freedom in those that matter less (low-hierarchy institutions). Four mechanisms account for the resilience of high-hierarchy institutions: marginal adjustment, solidification, accommodation and compromise. I explore the potential of this framework by comparing the trajectory of two related policy domains, exchange rates and industrial policy, in countries with a long history of neoliberal policymaking: Chile and Estonia. © The Author 2016. Published by Oxford University Press and the Society for the Advancement of Socio-Economics. All rights reserved.
dc.description.urihttps://academic-oup-com.recursosbiblioteca.unab.cl/ser/article/15/3/637/2890792
dc.identifier.citationSocio-Economic Review Volume 15, Issue 3, Pages 637 - 6601 July 2017
dc.identifier.doi10.1093/ser/mww015
dc.identifier.issn1475-1461
dc.identifier.urihttps://repositorio.unab.cl/handle/ria/56484
dc.language.isoen
dc.publisherOxford University Press
dc.rights.licenseCC BY 4.0 DEED Atribución 4.0 Internacional
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/deed.es
dc.subjectCausal mechanisms
dc.subjectDeveloping countries
dc.subjectInstitutional change
dc.subjectNeo-liberalism
dc.subjectPower
dc.titleMechanisms of neoliberal resilience: Comparing exchange rates and industrial policy in Chile and Estonia
dc.typeArtículo
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