This volume compares the Spanish and Latin American 'double transitions' to liberal democracy and an open-market economy. Spain's transitions in the 1960 to 1980s have become the paradigmatic case of successful institutional transformation, and thus the standard for the evaluation of the economic and political change in Latin America and Central/Eastern Europe in the 1980s and 1990s. Even though most Latin American countries have transformed their economies and polities in recent decades, and the outcomes of this transformation have been variable, few of these countries have so far established solid liberal democracies and dynamic open economies. The essays in this book, written by distinguished specialists, examine the different trajectories in Spain and several nations in Latin America, and seek to explain the different outcomes. In the large recent literature on transitions, this is the first systematic comparison between Spain and the Latin American cases.