A Comparative Study of Institutional Frameworks in Spain and Latin America.

A complete explanation for Spain's economic performance vis-à-vis that of Latin American economies must take into account the institutional frameworks in which decision-makers were allowed (or not) to carry out liberalization. This study examines whether post-Franco Spain "inherited" certain institutional frameworks that still centralized economic policy and allowed decision-makers to enact economic liberalization policies. Other Latin American countries with a similar institutional heritage, like Chile and Brazil, are then compared to underperforming Latin American economies to see if institutional heritage after dictatorships allows for easier enactment and enforcement of liberalization. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]