Privatization in Chile : an economic appraisal

This book explains why the privatization occurred, how divestitures were carried out, what difficulties were encountered, and what conditions were imposed to ensure efficiency in both private and public enterprises. It provides a detailed, objective account of the impact of this privatization on economic efficiency, employment, government revenues and expenditures, the capital market, savings and investment, distribution of property, and management. Included are case studies of two divestitures that involved unorthodox procedures and were strongly criticized at the time: CAP (steel industry); and ENDESA (electricity generation). Lessons learned are provided in a final chapter. (Author abstract, modified)