Concurrent Elections, Discordant Results: Presidentialism, Federalism, and Governance in Brazil: Presidentialism, federalism, and governance in Brazil
Concurrent Elections, Discordant Results: Presidentialism, Federalism, and Governance in Brazil: Presidentialism, federalism, and governance in Brazil
复制标题
并行选举,不一致的结果:巴西的总统制、联邦制和治理:巴西的总统制、联邦制和治理
DOI:
10.2307/422421
复制
发表时间:
2000
影响因子:
2.3
通讯作者:
David J. Samuels
中科院分区:
文献类型:
--
作者:
David J. Samuels
"Stumping for candidates is a thing of the past, it's a figure of speech. These days, if you advertise that you're going to vote for this or that candidate, it doesn't change anything." So Brazilian President Fernando Henrique Cardoso expressed his belief that his support would not help elect candidates for other offices in O Estado de Sao Paulo, August 3, 1998. In January 1999 Cardoso became the first Brazilian president to pass the presidential sash to himself. He won a smashing first-round reelection victory in October 1998, defeating his nearest rival by over 20 percent. The parties in his alliance also won sizable majorities in both houses of congress. By all rights, Cardoso's reelection ought to have rejuvenated his efforts to maintain Brazil's economic stabilization program (the Piano Real) and to pass extensive political reforms. On top of the prestige from his relatively easy victory, the International Monetary Fund agreed soon after the election to provide Brazil with U.S.$42 billion to give Cardoso extra political and economic breathing room to maneuver for reform. Superficially, Cardoso appeared to possess significant political capital at the start of his second term. However, Cardoso experienced no second honeymoon. To the contrary, his second term began as a nightmare. Within weeks of his inauguration, the real collapsed, losing half its value and raising fears of a return to Brazil's infamous days of hyperinflation; the country's foreign currency reserves were drained; two central bank presidents resigned in succession; the Brazilian stock markets went into a free-fall; and former president Itamar Franco, elected governor of the important state of Minas Gerais, effectively defaulted on the debts his state owed to domestic and international creditors. This last straw forced the central government to cover the debts in order to stave off the perception of a generalized government default. The New York Times soon concluded that despite Cardoso's victory "Brazil is struggling against its worst financial crisis in years."' Moreover, as the largest economy in Latin America and the eighth largest in the world, Brazil's troubles reverberated throughout the region. Leery investors feared that Brazil's problems could unleash "new global turmoil" or even precipitate a "global financial meltdown."2 Brazil's economic crisis generated a political crisis, and after his inauguration Cardoso's political prestige quickly slipped with both voters and congress.3 Why was Cardoso's second honeymoon cut short so abruptly? While many fac-