Endogenous Institutions: Veto Players and Political Stability in Presidential Regimes.

This article contends that regime instability in countries with presidential form of government is more likely under multiparty system, when institutional design is biased for one party and when partisan players are unilaterally impatient. It offers a model of endogenous institutional breakdown in presidential regimes. The model present empirical puzzles such as the historical survival of presidentialism in the U.S. and its breakdown in Latin America since the 1980s.