The Limits Of Stabilization: Infrastructure, Public Deficits And Growth In Latin America (latin American Development Forum)
by William Easterly /
2003 / English / PDF
1.4 MB Download
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.
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.
