Mexico and Argentina: Economic reform and technocratic decision making

Abstract

This article examines the Mexican and Argentine cases of market reform and argues that despite important differences in regime type and in recent economic and political trajectories, the decision-making process in the two countries came to display important common features. In both cases, economic crises and debt negotiations played key roles in propelling technocratic reformers into positions of policy predominance; both exhibited exclusionary technocratic decision-making styles in which small technocratic elites insulated themselves from both extra and intra state pressures. While policy isolation was no doubt necessary for the successful implementation of market reforms, this style may be counter-productive to political stability over the long term.