Sinposis

THIS BRIEF TEXT OFFERS AN UNBIASED REFLECTION ON DEBATES ABOUT NEOLIBERALISM AND ITS ALTERNATIVES IN LATIN AMERICA WITH AN EMPHASIS ON THE INSTITUTIONAL PUZZLE THAT UNDERLIES THE REGION'S DIFFICULTIES WITH DEMOCRATIZATION AND DEVELOPMENT. IN ADDITION TO PROVIDING AN OVERVIEW OF THIS KEY ELEMENT OF THE LATIN AMERICAN POLITICAL ECONOMY, PETER KINGSTONE ALSO ADVANCES THE ARGUMENT THAT BOTH STATE-LED AND MARKET-LED SOLUTIONS DEPEND ON EFFECTIVE INSTITUTIONS, BUT LITTLE IS KNOWN ABOUT HOW AND WHY THEY EMERGE. KINGSTONE OFFERS A UNIQUE CONTRIBUTION BY MAPPING OUT THE PROBLEM OF HOW TO UNDERSTAND INSTITUTIONS, WHY THEY ARE CREATED, AND WHY LATIN AMERICAN ONES LIMIT DEMOCRATIC DEVELOPMENT.