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Meanwhile too much attention is focused in economic voting, a previous question has been hardly addressed: how the economy affects turnout rates. Does economic adversity raise the level of turnout? Or contrary: Do macroeconomic drops demobilize voters? In this paper I analyse the relationship between some macroeconomic variables and levels of turnout in Latina America between 1980 and 2000. I do it through the study of aggregated variables. Results challenge the main findings of the literature for developing countries: hard times are not related with higher turnout, though unemployment seems to have a particular relationship. In addition, the data shows political demobilization as a by product of voters disaffection. Such findings involve critical implications for accountability issues, democratic representation, and the electoral strategies of political parties. [ABSTRACT FROM AUTHOR]