Winners and Losers from the Privatization and Regulation of Utilities: Lessons from a General Equilibrium Model of Argentina
AbstractA computable general equilibrium (CGE) model is used to estimate the macroeconomic and distributional effects of the privatization and regulation of utilities in Argentina, begun in 1989. Based on data available after the privatization that indicate different kinds of efficiency gains in electricity, gas, water, and telecommunications, both the privatization and effective regulation are estimated to yield significant macroeconomic benefits. Gains from the privatization accrue mainly to high-income classes, while gains from the effective regulation of newly privatized utilities accrue mainly to low-income classes. CGE estimates of overall employment effects suggest that privatization was not a major contributor to the dramatic rise in unemployment in Argentina between 1993 and 1995. This rise was more likely due to the "Tequila Effect" of an interest rate shock. Copyright 1999 by Oxford University Press.
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Bibliographic InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/44005.
Date of creation: 1999
Date of revision:
Publication status: Published in: The World Bank economic review (1999) v.13 n° 2,p.357-378
Other versions of this item:
- Chisari, Omar & Estache, Antonio & Romero, Carlos, 1999. "Winners and Losers from the Privatization and Regulation of Utilities: Lessons from a General Equilibrium Model of Argentina," World Bank Economic Review, World Bank Group, World Bank Group, vol. 13(2), pages 357-78, May.
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