Abstract
We can help trace links between the institutional form of capital entering developing countries and the emergence of political democracy by making explicit our assumptions about the critical economic, political, and social variables that intervene between capital flows and political effects. If inflows of portfolio capital either strengthen or weaken organized labor or rural producers, for example, what effects do we anticipate to follow for democratic development? Do business interests enjoying enhanced control over political resources advance political democracy? Are political leaders more apt to be able to forge stable ruling coalitions in a context of political democracy when they endorse broadly orthodox economic policies or, on the contrary, do departures from that orthodoxy boost their abilities to deliver economic stability, reward supporters, and thereby create enduring coalitions?
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© 2001 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Unger, D. (2001). Thailand: What Goes Up…. In: Armijo, L.E. (eds) Financial Globalization and Democracy in Emerging Markets. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780333994894_13
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DOI: https://doi.org/10.1057/9780333994894_13
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