Privatization in Latin America: Myths and Reality

Despite the widespread belief across Latin America that the privatization agenda of the "Washington Consensus," has wrought numerous economic problems, Chong (a senior research economist at the Inter-American Development Bank), Lopez-de-Silanes (Yale U. School of Management), and their contributors believe that it "delivers the same significant benefits in Latin America as it does in other parts of the world." Eight papers review the data for Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru, finding increased productivity and profitability, accelerating restructuring and output growth, mounting tax revenues, and improving technologies in general and arguing that failures are caused by continued state involvement and regulation and a weak corporate governance framework. Annotation ©2004 Book News, Inc., Portland, OR