Over the 1980s and 1990s, most Latin American countries witnessed a retrenchment of the public sector away from infrastructure provision and an opening up of infrastructure activities to the private sector. This book analyzes the consequences of these policy changes from two perspectives. First, it reviews in a comparative framework the major trends in infrastructure provision in Latin America over the last two decades. Second, it evaluates the implication of these trends for economic growth and public deficits in the region. The book shows that in most countries private participation did not fully offset the public sector retreat. The result was a slowdown in infrastructure accumulation, which entailed a significant growth cost and weakened the intended impact of the infrastructure spending cuts on public sector insolvency.

The Limits of Stabilization: Infrastructure, Public Deficits and Growth in Latin America (Latin American Development Forum)

Business & Money

Press, Stanford University

Economics

World Bank Publications

Award winning title! 'Globalization and Development' was selected as a 2003 'Notable Government Document' by the American Librarian Association (ALA) and GODORT (Government Documents Round Table). In this book, the UNECLAC (United Nations Economic Commission for Latin America and the Caribbean) draws upon the Latin American and Caribbean region's experience in order to formulate a historical and multidimensional assessment of the globalization process from the perspectives of developing countries.

Globalization and Development: A Latin American and Caribbean Perspective (Latin American Development Forum)

Although China's centrally planned economy is a little more than a shadow of its former self, the closely inter-linked reforms of the enterprise and banking sectors are still incomplete. The relative size of the state-owned enterprise sector has been much reduced, however, the sector remains the dominant borrower from the banking system and is responsible for the majority of bank non-performing assets. Thus in the interests of financial stability it is crucial to implement the remaining reform agenda. The accession to the WTO has also made it more urgent for China's most-dynamic state-owned enterprises and her banking industry to compete through innovation, continuing process upgrades, and active pursuit of strategies aimed at succeeding in global markets. In order to do so, not only do large state-owned industrial enterprises need to be privatized, but the government also needs to create the conditions that will result in market determined consolidation of small and medium size firms into entities with a core strength. 'Under New Ownership' explores the effects of ownership reform in China on the performance of reformed industrial state-owned enterprises, and proposes privatization as a course of action to truly transform these enterprises into world class firms which compete on the basis of sound strategy, effective organization, and innovation. It draws upon newly collected firm level survey data to assess changes in the ownership structure of state enterprises on management, governance, innovation, and performance relative to other types of firms in China. This title provides researchers, students, and policymakers interested in the Chinese economy with in depth information and analysis on key issues related to the reform of state-owned enterprises.

Under New Ownership: Privatizing China's State-Owned Enterprises

Perkins, Dwight H.

Yusuf, Shahid

Nabeshima, Kaoru

Empirical analysis of two decades of pioneering pension and social security reform in Latin America and the Caribbean shows that much has been achieved, but that critical challenges remain. In tackling this unfinished agenda, a great deal can be learned from the reform experience of countries in the region. 'Keeping the Promise,' produced by the chief economist's office for the Latin America and Caribbean region at the World Bank, evaluates policy reforms in 12 countries, points to successes and shortcomings, and proposes priorities and options for future reform.

Keeping the Promise of Social Security in Latin America (Latin American Development Forum)

Gill, Indermit S.

Yermo, Juan

Packard, Truman G.

History

Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified?'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts.'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.'--Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University

Privatization in Latin America: Myths and Reality (Latin American Development Forum)

Customers in the US and Canada please order from Stanford University Press at (800) 621-2736 or visit their website at www.sup.org.Fifth in population and geographical size and fourteenth in total income, Brazil is not only a regional, but also potentially a global force. Will Brazil capitalize on its huge strengths and emerge as a true global leader, or will it miss out on its great opportunity? This book lays out the crucial dimensions of Brazil's development prospects and considers both conventional and unconventional ways forward.'From Inside Brazil' lays out a number of messages of interest to Brazilian and international audiences. First, improving equity across the population is not only essential for social progress, but also key to achieving higher economic growth. Second, growth can be sparked by strong improvements in productivity, especially the productivity of the large percentage of people that are excluded from the production process. Third, investing in natural resources too is essential for supporting growth that is more inclusive of the poorer segments of the population, as these resources represent a large part of the assets of the poor. Fourth, this socio-economic agenda will get a large boost if political reform were carried out with urgency.

From Inside Brazil: Development in the Land of Contrasts

Thomas, Vinod

New Industries from New Places: The Emergence of the Software and Hardware Industries in China and India

Software comes from India, hardware comes from China. Why is that? Why did China and India take such different paths to global dominance in new high-tech industries? Will their paths continue to diverge or converge? How can other countries learn from their successes--and failures--in reaching global scale in new industries? To answer these questions, this book presents the first rigorous comparison of the growth of the IT industries in China and India, based on interviews with over 300 companies. It explains the different growth paths of the software and hardware sectors in each country, providing insights into the factors behind the emergence of China and India as global economic powers. It provides a compelling case study of how differences in economic policies and the investment climate affect industrial growth. This book sheds new light on common debates on 'China versus India', on why India is the software capital of the world while China is a manufacturing powerhouse. It refutes common myths about the growth of these industries―for example, the role of Non-Resident Indians or the Y2K problem in the growth of the Indian software industry, the role of government intervention in industrial growth, and the relative size of China and India's software industries.

Gregory, Neil

Tenev, Stoyan

Nollen, Stanley D.

Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk.Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best.'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Emerging Capital Markets and Globalization: The Latin American Experience (Latin American Development Forum)

De La Torre, Augusto

Schmukler, Sergio

'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level―the first such data in the region―and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital.This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.

Investor Protection and Corporate Governance: Firm-level Evidence Across Latin America (Latin American Development Forum)

Software comes from India, hardware comes from China. Why is that? Why did China and India take such different paths to global dominance in new high-tech industries? Will their paths continue to diverge or converge? How can other countries learn from their successes – and failures – in reaching global scale in new industries?To answer these questions, this book presents the first rigorous comparison of the growth of the IT industries in China and India, based on interviews with over 300 companies. It explains the different growth paths of the software and hardware sectors in each country, providing insights into the factors behind the emergence of China and India as global economic powers. It provides a compelling case study of how differences in economic policies and the investment climate affect industrial growth.This book sheds new light on common debates on 'China versus India', on why India is the software capital of the world while China is a manufacturing powerhouse. It refutes common myths about the growth of these industries – for example, the role of Non-Resident Indians or the Y2K problem in the growth of the Indian software industry, the role of government intervention in industrial growth, and the relative size of China and India’s software industries.

See the best price to sell, buy, or rent books by Press, Stanford University. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Press, Stanford University

See the best price to sell, buy, or rent books by Press, Stanford University. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Limits of Stabilization: Infrastructure, Public Deficits and Growth in Latin America (Latin American Development Forum)

Globalization and Development: A Latin American and Caribbean Perspective (Latin American Development Forum)

Under New Ownership: Privatizing China's State-Owned Enterprises

Keeping the Promise of Social Security in Latin America (Latin American Development Forum)

Privatization in Latin America: Myths and Reality (Latin American Development Forum)

From Inside Brazil: Development in the Land of Contrasts

New Industries from New Places: The Emergence of the Software and Hardware Industries in China and India

Emerging Capital Markets and Globalization: The Latin American Experience (Latin American Development Forum)

Investor Protection and Corporate Governance: Firm-level Evidence Across Latin America (Latin American Development Forum)

New Industries from New Places: The Emergence of the Software and Hardware Industries in China and India