ABSTRACT
In this chapter, I argue that the third key difference that led to the divergence of presidential power between Argentina and Chile is that whereas the former has experienced several significant economic crises, the latter from democratization through 2019 was spared major economic crises. In this chapter, I include a theoretical discussion of why economic crises allow presidents to concentrate power. I argue that during an economic crisis, congress and the judiciary will be more deferential to presidents. I also discuss a specific kind of economic crisis that strengthens presidential power even further which I term a “bust-boom cycle”; this is a scenario where presidents who come to power inheriting an economic crisis from their predecessor and are able to restore growth will be in an especially strong position to concentrate power. In this chapter, I also include the results of an in-person survey performed in Argentina.
