Dragon in the Tropics: Hugo Chavez and the Political Economy of Revolution in Venezuela (Brookings Latin America Initiative)

Since he was first elected in 1999, Venezuelan President Hugo Chávez Frias has reshaped a frail but nonetheless pluralistic democracy into a semi-authoritarian regime—an outcome achieved with spectacularly high oil income and widespread electoral support. This eye-opening book illuminates one of the most sweeping and unexpected political transformations in contemporary Latin America. Based on more than fifteen years' experience in researching and writing about Venezuela, Javier Corrales and Michael Penfold have crafted a comprehensive account of how the Chávez regime has revamped the nation, with a particular focus on its political transformation. Throughout, they take issue with conventional explanations. First, they argue persuasively that liberal democracy as an institution was not to blame for the rise of chavismo. Second, they assert that the nation's economic ailments were not caused by neoliberalism. Instead they blame other factors, including a dependence on oil,