Search

This paper aims to analyse the role of supreme courts of justice in some of the recent removals from office of progressive "pink tide" Latin American presidents and governments where so-called "new right" governments have taken power. It shows the composition of the supreme courts to be a decisive factor in removing these governments from power. The core hypothesis is that the judiciary may have served as a body for legitimating interruption and dismissal processes led by the legislature in contexts of institutional paralysis (or conflict with the executive branch). To demonstrate this, the case of Brazil is analysed and specifically the role played by the Federal Supreme Court (STF) in the dismissals of Luis Inácio Lula da Silva and Dilma Rousseff. [ABSTRACT FROM AUTHOR]

The paper examines the relationship between the performance of Latin American stock markets with their real economies, applying seven econometric models for the cases of Argentina, Brazil, Chile and Mexico. The relationship between stock market yields in these countries and their respective GDPS is examined and compared, applying to the series for each country unit root tests, cointegration analysis, error correction model analysis, Granger causality modeling, self-regression vector analysis, stimulus and response functions, and variance decomposition analysis. The series comprise the following stock markets: Argentina's MERVAL, Brazil's BOVESPA, Chile's IGPA, and Mexico's IPC, as compiled by Economática. The GDP series were obtained from the Cepalstat data base. The series are monthly and are for the period 1993-2005. [ABSTRACT FROM AUTHOR]