This paper presents a simple model that shows the effects of financial liberalization on the credit market of a small, relatively capital poor economy. The empirical evidence regarding the effect of foreign bank entry is mixed. Some studies show that financial liberalization leads to an increase...

A growing number of roads are currently financed by the private sector via Build-Operate-and -Transfer (BOT) schemes. When the franchised road has no close substitute, the government must regulate tolls. Yet when there are many ways of getting from one point to another, regulation may be avoided...

A growing number of roads are currently financed by the private sector via Build-Operate-and -Transfer (BOT) schemes. When the franchised road has no close substitute, the government must regulate tolls. Yet when there are many ways of getting from one point to another, regulation may be avoided...

This paper examines the premises under which the privatization of Chilean social services of 1981 was carried out. Reformers expected that competition between providers would ensure a more efficient supply of services, and shifting decisions to households would guarantee a better satisfaction of...