Bigger Economies, Smaller Governments

William Glade is a professor of economics at the University of Texas in Austin, having recently returned to that position after a five-year leave of absence. During that time, he served first as senior research associate and then acting director of the Latin American Program in the Woodrow Wilson International Center for Scholars in the Smithsonian Institution, and for three subsequent years he held a presidential appointment as associate director for Educational and Cultural Affairs in the U.S. Information Agency. He was director of the Institute of Latin American Studies at the University of Texas from 1971 to 1986, and before coming to Austin was professor of business and economics at the University of Wisconsin, where he taught for ten years. He has written extensively on business-govemment relations in Latin America and on economic development in that region. Rossana Corona is the international markets advisor in the Financial Analysis and Investor Relations Directorate of Bancomer, the largest retail bank in Mexico. In 1993, before joining this organization, she was the Mellon Foundation fellow at the Institute of the Americas, where she participated in the Institute’s research activities on privatization. From 1989 to 1992, she carried out different research activities in the Center for Economic Analysis and Research of the Instituto Tecnológico Autónomo de México (ITAM). Among other projects, she made an especially important contribution to Privatization Processes in Latin America under the first round of the Centers for Research in Applied Economics Project, sponsored by the Inter-American Development Bank.

• Preface -- Introduction -- Introduction -- Capital Markets and Privatization -- Capital Flows to Latin America 1982-1992: Trends and Prospects -- Social Security Reform in Chile -- Pension Reform in Latin America: Importance and Evaluation of Privatization Approaches -- Privatization and the State -- Fiscal Aspects of Privatization -- Fiscal Impact of Privatization in Mexico -- Privatization and the Business Sector -- Privatization: The Argentine Experience -- Did Privatization Raise Enterprise Efficiency in Chile? -- Impact of Privatization in Mexico on Economic Efficiency and Market Structure: Analysis of Five Companies -- The Impact of the Mexican Bank Reprivatizations -- The Impact of Privatization on Technology Transfer in Latin America -- Social Impacts -- The Labor Sector: A Post-Privatization Assessment -- Impact of Privatization on Welfare: The Chilean Case 1985-1989