Privatization South American Style

By Luigi Manzetti | Go to book overview

of unprotected academic advisers; they cannot do so, however, if those academics have become associated with a policy that is highly prized by powerful interests'.

However, coherent, sound policies need to survive their masters to be sustained over time. This requires the creation of institutions capable of assuring the continuation of such policies over time, by sheltering them from pork-barrel politicians who are likely to manipulate them would they be given a chance. Pinochet in Chile, before withdrawing from power, created an independent central bank and engineered an electoral system that could make it impossible for his political enemies, once in power, to reverse his policies. Unfortunately, Chile remains an isolated case in Latin America. Central Banks remain highly dependent upon the executive and the checks and balances of the democratic process are likewise tenuous, particularly in Argentina and Peru. These two countries, and to a lesser extent Brazil, have made great strides to reform their economies, but such reforms have been confined to the economic realm. Unless they are accompanied by political reforms that promote an efficient and independent judiciary, a legislature that is responsive to its citizens rather than specific lobbies, and a more selfrestrained, and transparent executive branch, Vargas Llosa's warning may not sound too unrealistic after all. In the years to come, if market reforms are truly to succeed as economic theory postulates, they should be matched by an equal effort to spread wealth and strengthen the democratic process. There is nothing inherently wrong with free-market policies as some left-wing critics argue. Rather, it is the lack of transparency that demands scrutiny and action. As St Augustine reasoned, 'States without Justice are but bands of thieves enlarged.'


Endnotes
1.
That even the most sophisticated observers of economic trends were still unwilling to concede that their country was slipping into a situation similar to its Argentine and Peruvian neighbors was clear to me during an interview I had with a former chairman of the Brazilian Central Bank in August of 1988. When I raised this possibility, the interviewee disdainfully replied that there was no chance that Brazil would fall into hyperinflation. By the end of 1989, consumer prices had increased by over 1,860 per cent
2.
That the main task of domestic conglomerates in this type of trilateral consortium was to take care of the 'political side' of the negotiations with the government was confirmed to me, quite candidly, by the chief public relation officers of one of Argentina's largest groups in an interview. Buenos Aires, November 1995.
3.
The process started with the Collor Plan I and continued through 1996 when Congress approved a motion allowing foreign companies to control majority shares in the mining sectors.

-331-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Privatization South American Style
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • List of Figures viii
  • List of Tables ix
  • List of Abbreviations xi
  • 1 - The Political Economy of Privatization 1
  • Endnotes 30
  • 2 - Privatization in the 1980s: Politics as Usual 32
  • Endnotes 68
  • 3 - Argentina 71
  • Endnotes 141
  • 4 - Brazil 150
  • Endontes 226
  • 5 - Peru 232
  • Endnotes 288
  • 6 - The Theory and Practice of State Divestiture 294
  • Endnotes 331
  • References 333
  • Index 349
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 373

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.