Privatization in Latin America
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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…mehr

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Produktbeschreibung
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.
Autorenporträt
WERNER BAER is Professor of Economics at the University of Illinois at Urbana-Champaign./e Previously he taught at Harvard, Yale, and Vanderbilt, and he has been a visiting professor at the University of Sao Paulo, Catholic University of Rio de Janeiro, and the Instituto Tocuato De Tella in Buenos Aires. He specializes in the study of Latin American economies, including the process of industrialization, its positive and negative impact, the region's inflationary experiences, the role of the state, and the process of privatization.