The Limits of Stabilization : Infrastructure, Public Deficits and Growth in Latin America

Luis Serven

ISBN 10: 0821354892 / ISBN 13: 9780821354896

Published by World Bank Publications Okt 2003, 2003

About this Item

Neuware - Over the 1980s and 1990s, most Latin American countries witnessed a retrenchment of the public sector 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 retrenchment. 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.

Seller Inventory # 9780821354896

Bibliographic Details

• Title: The Limits of Stabilization : Infrastructure, Public Deficits and Growth in Latin America
• Publisher: World Bank Publications Okt 2003
• Publication Date: 2003
• Language: English
• ISBN 10: 0821354892
• ISBN 13: 9780821354896
• Binding: Taschenbuch
• Condition: Neu

About this title

Synopsis

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Review

"The lessons from this research are likely to be valuable not only for developing countries but also for the European countries that are part of the Euro zone."

" The lessons from this research are likely to be valuable not only for developing countries but also for the European countries that are part of the Euro zone." -- Sergio Rebelo, Kellogg School of Management, Northwestern University

" This fascinating book highlights a neglected cost of two decades of fiscal austerity in Latin America. The authors' careful analysis reveals that the decline in public investment in infrastructure may have been expensive not only for growth but for long-term fiscal solvency as well. Deserves to be read by every IMF economist (and many others besides)." -- Dani Rodrik, John F. Kennedy School of Government, Harvard University

"This fascinating book highlights a neglected cost of two decades of fiscal austerity in Latin America. The authors' careful analysis reveals that the decline in public investment in infrastructure may have been expensive not only for growth but for long-term fiscal solvency as well. Deserves to be read by every IMF economist (and many others besides)." --Dani Rodrik, John F. Kennedy School of Government, Harvard University

"The lessons from this research are likely to be valuable not only for developing countries but also for the European countries that are part of the Euro zone." --Sergio Rebelo, Kellogg School of Management, Northwestern University