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Privatization in Latin America : Myths and Reality

Author

Listed:
  • Alberto Chong
  • Florencio López-de-Silanes

Abstract

Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified? This report evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru.

Suggested Citation

  • Alberto Chong & Florencio López-de-Silanes, 2005. "Privatization in Latin America : Myths and Reality," World Bank Publications, The World Bank, number 7461.
  • Handle: RePEc:wbk:wbpubs:7461
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/7461/344280PAPER0LA101official0use0only1.pdf?sequence=1
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    Other versions of this item:

    • Florencio López-de-Silanes & Pablo Serra & Paul Gertler & Ernesto Schargrodsky & Francisco Anuatti & Sebastián Galiani & Alberto E. Chong & Carlos Pombo & Federico Sturzenegger & Máximo Torero & Carlo, 2005. "Privatization in Latin America: Myths and Reality," IDB Publications (Books), Inter-American Development Bank, number 348 edited by Alberto E. Chong & Florencio López-de-Silanes, May.

    Citations

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    Cited by:

    1. repec:eee:reveco:v:51:y:2017:i:c:p:214-234 is not listed on IDEAS
    2. David K. Levine & Federico Weinschelbaum & Felipe Zurita, 2010. "The Brother-In-Law Effect," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(2), pages 497-507, May.
    3. Professor Bahaudin G. Mujtaba, 2012. "Bribery Challenges And Business Ethics In Afghanistan," Far East Journal of Psychology and Business, Far East Research Centre, vol. 6(4), pages 58-76, February.
    4. Alberto Chong & Virgilio Galdo & Máximo Torero, 2009. "Access to Telephone Services and Household Income in Poor Rural Areas Using a Quasi-natural Experiment for Peru," Economica, London School of Economics and Political Science, vol. 76(304), pages 623-648, October.
    5. repec:idb:idbbks:358 is not listed on IDEAS
    6. Chang, Roberto & Hevia, Constantino & Loayza, Norman, 2018. "Privatization And Nationalization Cycles," Macroeconomic Dynamics, Cambridge University Press, vol. 22(02), pages 331-361, March.
    7. Sybil Rhodes, 2012. "Political communication and economic reform: the use of consumerist frames in Brazil, 1985-2005," CEMA Working Papers: Serie Documentos de Trabajo. 482, Universidad del CEMA.
    8. repec:kap:asiapa:v:34:y:2017:i:2:d:10.1007_s10490-016-9475-y is not listed on IDEAS
    9. Professor Hafiz Abdur Rashid & Hafsa Noreen & Monazza Karamat, 2012. "Growth And Prospects Of Islamic Banking In Pakistan," Far East Journal of Psychology and Business, Far East Research Centre, vol. 7(4), pages 52-65, May.
    10. Sergei Guriev & William L. Megginson, 2006. "Privatization: What We have Learned: World Bank's ABCDE 2006," Sciences Po publications info:hdl:2441/1quv2b21ai9, Sciences Po.
    11. Kirill Borissov & Mikhail Pakhnin, 2018. "Economic growth and property rights on natural resources," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(2), pages 423-482, March.
    12. Mukhiddin Jumaev & Prof. Dr. Dileep Kumar. M. & Jalal R. M. Hanaysha, 2012. "Impact Of Relationship Marketing On Customer Loyalty In The Banking Sector," Far East Journal of Psychology and Business, Far East Research Centre, vol. 6(4), pages 36-55, March.
    13. Stan du Plessis, 2011. "Nationalising South African mines: Back to a prosperous future, or down a rabbit hole?," Working Papers 17/2011, Stellenbosch University, Department of Economics.
    14. Fernando Borraz, 2011. "Water nationalization: network access, quality, and health outcomes," Working Papers 201126, Latin American and Caribbean Environmental Economics Program, revised 2011.
    15. Kirill Borissov & Alexander Surkov, 2012. "Public versus Private Ownership of Exhaustible Resources in Models of Economic Growth with Heterogeneous Consumers," DEGIT Conference Papers c017_046, DEGIT, Dynamics, Economic Growth, and International Trade.
    16. José Antonio Reyes, 2007. "The Missing Point in CAFTA," IDB Publications (Working Papers) 1609, Inter-American Development Bank.
    17. Pombo, Carlos & Taborda, Rodrigo, 2017. "Stock liquidity and second blockholder as drivers of corporate value: Evidence from Latin America," International Review of Economics & Finance, Elsevier, vol. 51(C), pages 214-234.
    18. Vivien Foster & José Luis Guasch & Luis Andrés & Thomas Haven, 2008. "The Impact of Private Sector Participation in Infrastructure: Lights, Shadows, and the Road Ahead," IDB Publications (Books), Inter-American Development Bank, number 59818, February.
    19. Luis A. Andrés & J. Luis Guasch & Thomas Haven & Vivien Foster, 2008. "The Impact of Private Sector Participation in Infrastructure : Lights, Shadows, and the Road Ahead," World Bank Publications, The World Bank, number 6545.

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