Synopses & Reviews
As import-substitution industrialization yields to increasing market liberalization in Latin America in the 1990s, privatization assigns new roles to both the public and private sectors. After the decade of the debt crisis, a much weakened State will reorient its policy efforts to the difficult issues of limited fiscal and monetary choices, regulation of newly privatized firms, and long-postponed social programs. However, privatization represents a mhallenge for the private sector as much as it is an issue for the public sector. Foreign and domestic capital will be asked to play a critical role in revitalizing battered economies. New players, from penny-capitalists to pension funds, and new institutions, including dramatically altered banking systems and suddenly thriving stock markets, have recently appeared. The changing roles of public and private sectors and the implications of these developments are the focus of this book.
Synopsis
Privatization is the reversal of the policy of nationalization and subsidizing industry that has been in effect in many Latin American countries.
About the Author
WERNER BAER is a Professor in the Economics Department, University of Illinois, Urbana-Champaign.MELISSA H. BIRCH is Associate Professor of Business Administration, the University of Kansas.
Table of Contents
Figures and Tables
Preface
Privatization and the Changing Role of the State in Brazil by Werner Baer and Annibal V. Villela
Privatization and the Role of the State in Post-ISI Mexico by Miguel D. Ramirez
The Regulation of Newly Privatized Firms: An Illustration from Argentina by Manuel Angel Abdala
Privatization: The Role of Domestic Business Elites by Ernest Bartell
Foreign Direct Investment in Latin America during the 1990s by Melissa H. Birch
The Financial Sector in Latin American Restructuring by Kenneth P. Jameson
Privatization with Share Diffusion: Popular Capitalism in Chile, 1985-1988 by William F. Maloney
Liquid Equity Markets as an Engine for Long-Term Growth in Latin America by Diana R. Harrington
Privatization in Spain by Rick L. Chaney and Alan Dye
Index