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Author: Marcelo de Paiva Abreu
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 42
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Book Description
Author: Marcelo de Paiva Abreu
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 42
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Book Description
Author: Armando Castelar Pinheiro
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 60
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Book Description
Author: Alberto Chong
Publisher: World Bank Publications
ISBN: 0821383507
Category : Business & Economics
Languages : en
Pages : 526
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Book Description
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? 'Privatization in Latin America' 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. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts. 'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.' --Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University
Author: Christian Olsen
Publisher:
ISBN:
Category :
Languages : da
Pages : 84
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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In the 1990s the Brazilian government embarked on a new era, privatizing previously state-owned companies like the country's first large-scale steel mill, National Steel Company (CSN). Privatized enterprises like CSN have seen growing profits, have attracted more investment, and have contributed to Brazil's growth in the 1990s. However, privatization could have had even more benefits-broadening as well as increasing the benefits of more efficient and competitive firms. Here, Roberto Macedo analyzes how a program that could have increased access to-or democratize-capital ownership, ended up mostly benefiting big business in Brazil and abroad. In selling its shares in state-owned enterprises, the Brazilian government, Macedo shows, opted for a higher price by auctioning large and controlling blocks of shares to national companies, foreign investors, pension funds, and financial institutions. Offerings to the public were minimal, and targeted offerings to employees of firms being privatized, for example, benefited high-wage workers. Macedo argues that the privatization program contributed to the enlargement of Brazil's public debt and large fiscal deficits by delaying the devaluation of the Brazilian real-which took place only last year. Once again, the poorest groups are likely to lose out-since they will share the tax burden of payment on the increased public debt and will suffer the resulting higher interest rates. Other countries that plan to undertake privatization programs would be wise to ensure that benefits accrue to the whole of society, and not just to the wealthy.
Author: Marcelo de Paiva Abreu
Publisher:
ISBN:
Category :
Languages : es
Pages : 41
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Book Description
Author: Leslie Elliott Armijo
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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This paper questions when and why state governments oppose (or support) privatization programs initiated by the central government. It examines national privatization initiatives in the 1990s in India and Brazil in the fields of electricity and banking looking at the varying responses of the state governments in each country's major industrial and financial capital, the states of Maharastra and Sao Paulo, respectively. Possible explanations for state-level opposition to federal initiatives--as occurred in the cases of Enron and Banespa--include: (1) ideological commitments of state leaders, (2) differences of political party or coalition between the center and state government, and (3) an unequal distribution of costs and benefits from privatization between the two levels of government. We find that reason #3, real conflict of interests, best explains serious opposition, although the nature of political party alliances (#2) and politicians' values (#1) can play a supporting role. Our conclusions suggest that seemingly irreconcilable policy stances often may be ameliorated by further center-state negotiations and some redistribution of benefits to make the package more attractive to state leaders.
Author: Edmund Amann
Publisher:
ISBN: 9781383018905
Category : Brazil
Languages : en
Pages : 0
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Book Description
Changes during the 1990s in Brazilian policy implementation have caused trade barriers to fall, privatisations to take place and cut-backs in government procurement. Edmund Amann examines the impact of this on Latin America's largest economy.
Author: Sunita Kikeri
Publisher: World Bank Publications
ISBN:
Category : Privatizacion - Paises en desarrollo
Languages : en
Pages : 31
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Book Description
"This paper takes stock of recent privatization trends, examines the extent to which government ownership is still prevalent in developing countries, and summarizes emerging issues for state enterprise reform going forward. Between 1990 and 2003, 120 developing countries carried out nearly 8,000 privatization transactions and raised $410 billion in privatization revenues. Privatization activity peaked in 1997 and dropped off in the late 1990s and, while still at overall low levels, is slowly creeping back. While there are a large number of studies assessing the impact of privatization on enterprise performance and overall welfare, there are no systematic data on the extent to which privatization has changed the role of state enterprises in the economy. Anecdotal evidence suggests that the state's role has been substantially reduced in Eastern and Central Europe and in certain countries in Latin America. But available evidence also suggests that, despite a long track record of privatization, government ownership in state enterprises is still widely prevalent in some regions and countries, and in certain sectors in virtually all regions. The paper shows that the costs of not reforming state enterprises are high and that continued efforts need to be made to improve their performance by improving privatization policies and institutions; adopting more of a case-by-case approach for complex sectors and countries; and exposing state enterprises to market discipline through new private entry and exit of unviable firms and improvements in their corporate governance. "--World Bank web site.
Author: Roman Frydman
Publisher: Central European University Press
ISBN: 9633864917
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.
