Privatization in Latin America: New Roles for the Public and Private Sectors

By Werner Baer; Melissa H. Birch | Go to book overview
15.
Two companies supplying basic services in different regions (north and south), a firm for the provision of international services, and finally, a company that would offer related services--like data transmission, naval radio transmissions, and telex--in a competitive environment. Each of the consortia operating basic services would control and own 50 percent of the international services and competitive services companies.
16.
Decree 62 of 1990.
17.
Decree 575.
18.
Although BANADE was legally designed as the institution in charge of determining ENTel's base offer price, the mission was transferred to an international consulting firm as BANADE declared itself unable to comply with the assigned task.
19.
Decree 677.
20.
FOETRA Buenos Aires was eventually dissolved by force and its facilities physically taken under the control of police officers.
21.
RPI stands for rate of price increase, and X is a given percentage aimed to capture technological improvements in the industry.
22.
Prices will run against the firm when depreciations of the austral increase the costs of imported intermediate inputs without a corresponding proportional increase in output prices. By the same token, consumers will be worse off in dollar terms whenever there is an appreciation of the austral/peso, since the firm would be allowed to increase its prices in australes/pesos by more than the increase in the exchange rate.
23.
The variable X is not totally exogenous when the regulatory body periodically revises its value according to the enterprise's behavior. If there were to be recurrent revisions, the firms may fear that today's large reductions in costs may prompt quick upward revisions on the value of X, thereby lowering tomorrow's potential profits.
24.
For quantitative results on this subject, see Abdala ( 1992b).
25.
For evidence on this, see, among others, Basco and Givogri ( 1988), Herrera ( 1989), and Bour ( 1987).
26.
The bypass of a service offered by a regulated carrier means the self-supply of a client with that service: see Mitchell and Vogelsang ( 1991). Uneconomic bypass occurs when the regulated carrier's incremental costs of providing the service are lower than the incremental cost of bypass to the consumer.

REFERENCES

Abdala M. A. "Deregulation, Privatization, and Regulation in the Argentine Telecommunications Sector. " Estudios ( Cordoba); Sept. - Dec. 1992a pp. 125-138.

_____. "Distributional Impact Evaluation of Divestiture in a High-Inflation Economy: The Case of ENTel Argentina." Ph.D. Dissertation, Boston University, Boston, 1992.

Ale J. Yarad "Un Nuevo Esquema de Regulacion de Monopolios Naturales." Estudios Publicos ( Santiago), 1991 pp. 165-226.

Artana D., O. Libonatti, and C. Rivas. Algunas Consideraciones sobre el Endeudamiento y la Solvencia del Sector Publico Argentino. Boletin Informativo Techint no 266. Buenos Aires: 1991, pp. 53-71.

Averch H. and L. Johnson. "Behavior of the Firm under Regulatory Constraint." American Economic Review, 52, no 5 ( 1969), pp. 1052-1069.

-68-

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Privatization in Latin America: New Roles for the Public and Private Sectors
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Figures and Tables vii
  • Preface xi
  • Notes xiii
  • 1 - Privatization and the Changing Role Of The State in Brazil 1
  • References 18
  • 2 - Privatization and the Role of the State In Post-Isi Mexico 21
  • Notes 41
  • 3 - The Regulation of Newly Privatized Firms: an Illustration from Argentina 45
  • References 68
  • 4 - Privatization: the Role of Domestic Business Elites 71
  • Notes 91
  • 5 - Foreign Direct Investment in Latin America During the 1990s 95
  • Conclusion 112
  • Notes 113
  • References 114
  • 6 - The Financial Sector in Latin American Restructuring 117
  • Notes 131
  • Notes 132
  • 7 - Privatization with Share Diffusion: Popular Capitalism in Chile, 1985-1988 135
  • Conclusion 153
  • Appendix 155
  • Acknowledgements 158
  • Notes 159
  • Refferences 160
  • 8 - Liquid Equity Markets as an Engine For Long-Term Growth in Latin America 163
  • Notes 177
  • Notes 180
  • 9 - Privatization in Spain 183
  • References 200
  • Selected Bibliography 201
  • Index 207
  • About the Contributors 213
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