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Why do very different countries often emulate the same policy model? Two years after Ronald Reagan's income-tax simplification of 1986, Brazil adopted a similar reform even though it threatened to exacerbate income disparity and jeopardize state revenues. And Chile's pension privatization of the early 1980s has spread throughout Latin America and beyond even though many poor countries that have privatized their social security systems, including Bolivia and El Salvador, lack some of the preconditions necessary to do so successfully.

In a major step beyond conventional...

This book takes a powerful new approach to a question central to comparative politics and economics: Why do some leaders of fragile democracies attain political success--culminating in reelection victories--when pursuing drastic, painful economic reforms while others see their political careers implode? Kurt Weyland examines, in particular, the surprising willingness of presidents in four Latin American countries to enact daring reforms and the unexpected resultant popular support. He argues that only with the robust cognitive-psychological insights of prospect theory can one fully account...

The international diffusion of policy ideas and practices is a subject of growing interest, raising such questions as: Why are there increasingly such waves of policy innovation? What prompts one country to emulate another's changes? Is it the influence of powerful international actors like the World Bank? Is it the motivations and interests of domestic actors? And how freely do imitators adapt foreign models to the needs and characteristics of their own countries, rather than simply replicating them?

Essays by leading academic experts and by policy practitioners with academic...