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The Costs and Benefits of Privatization in Argentina: A Microeconomic Analysis

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Author Info
Federico Sturzenegger
Ernesto Schargrodsky
Sebastian Galiani
Paul Gertler

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Abstract

Since the beginning of the 1980s, the world has undergone a major shift in thinking about the appropriate economic role of the state. Privatization of state-owned enterprises (SOEs) has been at the heart of this change. The track record on privatization, however, is still very limited. This holds true for Argentina, which undertook an extensive privatization effort. But has it improved the welfare of Argentine workers and consumers? How has the transfer of local water and sewerage firms to private hands impacted health indicators such as child mortality? Given the massive layoffs involved, have post-privatization gains in profitability come at the expense of workers? Analyzing data for both financial and non-financial firms, this paper answers these and other questions to set the record straight on privatization in Argentina.

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Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 3148.

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Date of creation: Apr 2003
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Handle: RePEc:idb:wpaper:3148

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Vining, Aidan R & Boardman, Anthony E, 1992. " Ownership versus Competition: Efficiency in Public Enterprise," Public Choice, Springer, vol. 73(2), pages 205-39, March.
  2. Galiani, Sebastian & Petrecolla, Diego, 1996. "The changing role of the public sector: An ex-post view of the privatization process in Argentina," The Quarterly Review of Economics and Finance, Elsevier, vol. 36(2), pages 131-152. [Downloadable!] (restricted)
  3. Rafael La Porta & Florencio López-De-Silanes, 1999. "The Benefits Of Privatization: Evidence From Mexico," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1193-1242, November. [Downloadable!] (restricted)
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  4. Ruhm, Christopher J, 1991. "Are Workers Permanently Scarred by Job Displacements?," American Economic Review, American Economic Association, vol. 81(1), pages 319-24, March. [Downloadable!] (restricted)
  5. Heckman, James J. & Robb, Richard Jr., 1985. "Alternative methods for evaluating the impact of interventions : An overview," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 239-267. [Downloadable!] (restricted)
  6. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January. [Downloadable!] (restricted)
  7. Caves, Richard E., 1990. "Lessons from privatization in Britain : State enterprise behavior, public choice, and corporate governance," Journal of Economic Behavior & Organization, Elsevier, vol. 13(2), pages 145-169, March. [Downloadable!] (restricted)
  8. Heckman, James J & Ichimura, Hidehiko & Todd, Petra E, 1997. "Matching as an Econometric Evaluation Estimator: Evidence from Evaluating a Job Training Programme," Review of Economic Studies, Blackwell Publishing, vol. 64(4), pages 605-54, October. [Downloadable!] (restricted)
  9. Jacobson, Louis S & LaLonde, Robert J & Sullivan, Daniel G, 1993. "Earnings Losses of Displaced Workers," American Economic Review, American Economic Association, vol. 83(4), pages 685-709, September. [Downloadable!] (restricted)
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  10. Clarke, George R. G. & Cull, Robert, 1999. "Provincial bank privatization in Argentina : the why, how, and"so what"?," Policy Research Working Paper Series 2159, The World Bank. [Downloadable!]
  11. Megginson, William L & Nash, Robert C & van Randenborgh, Matthias, 1994. " The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis," Journal of Finance, American Finance Association, vol. 49(2), pages 403-52, June. [Downloadable!] (restricted)
  12. Chamberlain, Gary, 1984. "Panel data," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 22, pages 1247-1318 Elsevier. [Downloadable!] (restricted)
  13. Daniel S. Hamermesh, 1987. "What Do We Know About Worker Displacement in the U.S.?," NBER Working Papers 2402, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Sebastián Galiani and Federico Sturzenegger, . "The Impact of Privatization on the Earnings of Restructured Workers," Business School Working Papers longterm, Universidad Torcuato Di Tella. [Downloadable!]
  2. Alberto Chong & Florencio Lopez-de-Silanes, 2003. "The Truth About Privatization in Latin America," RES Working Papers 3180, Inter-American Development Bank, Research Department. [Downloadable!]
    Other versions:
  3. Héctor G. González Padilla, 2009. "La privatización de bancos públicos provinciales en Argentina en 1993-2001," CEMA Working Papers: Serie Documentos de Trabajo. 401, Universidad del CEMA. [Downloadable!]
  4. Pollitt, M.G., 2004. "‘Electricity Reform in Argentina: Lessons for Developing Countries’," Cambridge Working Papers in Economics 0449, Faculty of Economics, University of Cambridge. [Downloadable!]
    Other versions:
  5. Kathryn M.E. Dominguez & Linda L. Tesar, 2004. "International Borrowing and Macroeconomic Performance in Argentina," Working Papers 532, Research Seminar in International Economics, University of Michigan. [Downloadable!]
    Other versions:
  6. David K Levine & Federico Weinschelbaum & Felipe Zurita, 2005. "The Brother in Law Effect," Documentos de Trabajo 303, Instituto de Economía. Pontificia Universidad Católica de Chile.. [Downloadable!]
    Other versions:
  7. Eduardo Levy Yeyati & Ernesto Schargrodsky & Sebastián Galiani, 2003. "Finantial Dollarization and Debt Deflation under a Currency Board," Business School Working Papers tres, Universidad Torcuato Di Tella. [Downloadable!]
    Other versions:
  8. Sebastian Galiani & Martín González Rozada & Ernesto Schargrodsky, 2007. "Expansiones de Agua en las Barriadas: Salud y Ahorros," RES Working Papers 3235, Inter-American Development Bank, Research Department. [Downloadable!]
  9. Sebastian Galiani & Martín González Rozada & Ernesto Schargrodsky, 2007. "Water Expansions in Shantytowns: Health and Savings," RES Working Papers 3234, Inter-American Development Bank, Research Department. [Downloadable!]
    Other versions:
  10. Eduardo Levy-Yeyati, . "Financial Dollarization and Debt Deflation Under a Currency Board: The Case of Argentina," DCBSLA Series 3, Inter-American Development Bank, Research Department. [Downloadable!]
  11. Harold L. Cole & Lee E. Ohanian & Alvaro Riascos & James A. Schmitz, Jr., 2004. "Latin America in the rearview mirror," Staff Report 351, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
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