The Inextricable Link Between Sovereign Debt and Pensions in Argentina, 1993–2010

Established with the reform of 1993, Argentina's private pension funds became crucial sources of credit for the national government. They purchased large amounts of sovereign bonds defaulted on in 2001 and hence were key to the success of the debt restructuring of 2005. The private pillar was always vulnerable to political maneuvering; the nationalization of private pension funds in 2008 was only the last stage in an iterated process of state intervention, a function of public debt dynamics. This article argues that the financial pressures associated with Argentina's sovereign debt burden systematically shortened the temporality of pension policy decisions, taking those away from long‐term concerns about the stability of the social security system and toward the immediacy of debt‐financing imperatives. Therefore, the politics of pension reform reversal in Argentina were determined by the increasingly strong and inextricable link between debt and pensions.     

Protest Politics in a Changing Political Context: Switzerland, 1975–2005

This article analyses if and how recent changes within the Swiss political system have influenced different aspects of protest politics (e.g. level, issues, action repertoires, and transnationalization). We argue that opportunities for mobilization have emerged in recent years due to changes in the institutionalized political context and that these changes have at least partially led to a resurgence of protest activities in the early 2000s. In a longitudinal perspective, it is however rather moderate. Additionally, new social movements still dominate Swiss protest politics. Although social and migration‐related questions gained in salience, the changes are not as dramatic as in the case of party politics. The rise of a new integration‐demarcation cleavage has not (yet) shaken Swiss protest politics as heavily as Swiss party politics. Finally, even though they are not integrated into a pronounced new protest cycle, the early 2000s are marked by the global justice movement. In this context, we observe a slight radicalization of the action repertoire and police reactions, which is at least partially explained by the emergence of new “transnational” sites of contention.     

State,Society and Markets in Argentina: The Political Economy of Neodesarrollismo under Néstor Kirchner, 2003–2007

The national Peronist social contract in Argentina has a long history rooted in syndicalism and populism. However, Menemismo in the 1990s, El Argentinazo in December 2001, and Kirchnerismo post crisis have all served to change the fundamental framework of the Argentine economy, the social underpinnings of that economy and how it intersects with global capital. This article is an attempt to identify the nature of Kirchner's administration through analysis of political economy, therefore seeking to facilitate a deeper understanding of the developmental nature and impact of the Kirchner administration of 2003–2007.     

Intergovernmental Politics of Fiscal Balance in a Federal Democracy: The Experience of Brazil, 1996–2005

Irresponsible fiscal behavior by subnational units is a concern for federal or decentralized systems, especially in the developing world. States' expenditures in Brazil have been no different. Still, spending varies considerably among the Brazilian states, even after controlling for their financial resources. This article provides a political explanation for the variation in current spending, focusing on intergovernmental political relationships. It argues that credit claiming for pork distributed in a state plays a crucial role and that governors elevate state spending in order to make up for their loss in political credit from the pork distributed by the president. Analyzing data from the period 1996–2005, it finds that expenditures decrease as the relative number of federal deputies from the state governor's party increases compared to the number of deputies from the president's governing coalition when the national agenda encourages federal pork distribution in the states.