Institutional change from an evolutionary perspective: the Mexican experience |
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| Authors: | Antonio Saravia |
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| Institution: | (1) Department of Economics, American University of Sharjah, P.O. Box 26666, Sharjah, UAE |
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| Abstract: | The fall of the Institutional Revolutionary Party (PRI) in July 2000 marked a milestone in Mexico’s political history. Throughout
its 71 years of incumbency, the PRI had incarnated the set of social, political and economic institutions of the country to
the extent of becoming synonymous with governance and stability. Using a simple model in which institutional change is the
result of the strategic interaction between citizens, an incumbent ruler and a potential new ruler or entrant, we provide
a systematic interpretation of this experience emphasizing the role of evolutionary factors such as history, uncertainty,
learning and experimentation.
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| Keywords: | Institutional change Evolutionary game theory Political replacement Mexico’ s political history |
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