TY - JOUR
T1 - From privatization to re-nationalization
T2 - What went wrong with privatizations in Argentina?
AU - Baer, Werner
AU - Montes-Rojas, Gabriel
N1 - Funding Information:
Research for this article was supported by the Tinker Foundation. We are in debt to Diego Petrecolla, Santiago Urbitzondo and Marcelo Ramal for helpful discussions in Argentina and to an anonymous referee for constructive comments and suggestions.
PY - 2008/9
Y1 - 2008/9
N2 - The privatization process in Argentina is analysed. Beginning with a very ambitious programme, a weak regulatory environment was created because of lack of experience and as a result of the lobbying power of the newly created enterprises. Numerous exclusive privileges were assigned to these sectors, making them the most profitable industries during the 1990s. As the economy crashed in 2001 and the local currency was devalued, a new government took office, which renegotiated all contracts. This resulted in re-privatization and re-nationalization of many services. The pro- and anti-privatization arguments are reviewed, using empirical evidence from Argentina. An in-depth study is also provided of the three sectors where this negotiation was most intense: the railways, water and sewerage and postal services.
AB - The privatization process in Argentina is analysed. Beginning with a very ambitious programme, a weak regulatory environment was created because of lack of experience and as a result of the lobbying power of the newly created enterprises. Numerous exclusive privileges were assigned to these sectors, making them the most profitable industries during the 1990s. As the economy crashed in 2001 and the local currency was devalued, a new government took office, which renegotiated all contracts. This resulted in re-privatization and re-nationalization of many services. The pro- and anti-privatization arguments are reviewed, using empirical evidence from Argentina. An in-depth study is also provided of the three sectors where this negotiation was most intense: the railways, water and sewerage and postal services.
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U2 - 10.1080/13600810802264456
DO - 10.1080/13600810802264456
M3 - Article
AN - SCOPUS:48549093699
SN - 1360-0818
VL - 36
SP - 323
EP - 337
JO - Oxford Development Studies
JF - Oxford Development Studies
IS - 3
ER -