Privatization South American Style

How Investor Portfolios Shape Regulatory Outcomes: Privatized Infrastructure After Crises

“…As others have noted, the diversified economic groups that dominated developing country economies prior to liberalization efforts in the 1990s adapted readily to their new context (Schneider, 2008(Schneider, , 2009. Scholars have shown that business groups seized upon privatization programs as an opportunity to further diversify their holdings (Guillén, 2001;Manzetti, 1999). Other research suggests that during the same time period, developing country business groups also expanded into other developing country markets, sometimes retaining their diverse operations at home (Ramamurti & Singh, 2009;Schneider, 2009).…”

Infrastructure privatization and changes in corruption patterns: The roots of public discontent

“…Note that investment figures generally report commitments, and that effective investments end up being substantially lower (Estache, 2004 Manzetti (1999) and Tulchin and Espach (2000). Another potential measure that could relate to the type of corruption discussed here is regulatory quality.…”

“…Clarke and Xu (2004) document how petty corruption in eastern European and central Asian utilities depends on the characteristics of bribe payers and takers, arguing in particular that corruption is lower with privatized and competitive utilities. Finally, anecdotal evidence and case studies on the link between privatization and corruption can be found in Manzetti (1999), Rose-Ackerman (1999) and Tulchin and Espach (2000) inter alia.…”

“…40 See Guasch et al (2007). 41 Of course, the speed at which competition is introduced is then determined simultaneously with corruption, as argued on the basis of case studies by Manzetti (1999) and Rose-Ackerman (1999). medias of instances of misbehavior by public officials.…”

Infrastructure Policy and Governance Failures

“…See also Kenny (2007). 39 For empirical support for theories on corruption and strategic planning on market structure, see the studies of privatizations in South America (Manzetti, 1999;Guasch, 2004) and Russia (Puntillo, 1996;Black, Kraakman, and Tarassova, 2000). For a discussion of how corruption may influence different phases of privatization in infrastructure, see Boehm and Polanco (2003), Bjorvatn and Søreide (2005) and Auriol and Straub (2011).…”