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UK Corporate Acquisitions in Latin America in the 1990s: Lost Opportunities in a New Economic Environment? 31
Amann, Edmund; de Paula, Germano Mendes; Ferraz, Joao Carlos.
Over the 1990s foreign direct investment (FDI) flowed into Latin America at an unprecedented rate. During this period, capital inflows associated with privatisations and private mergers and acquisitions (M&As) rose especially steeply. Drawing on original firm- level transactions data, this article examines the extent to which UK enterprises participated in the Latin American privatisation and private M&A boom. The authors conclude that, relative to their counterparts in many other major industrial countries, UK enterprises adopted a cautious posture, largely eschewing privatisation opportunities and concentrating M&A activities across relatively few operations, sectors and countries, in order to strength product and market positions. Moreover,...
Tipo: Working or Discussion Paper Palavras-chave: Environmental Economics and Policy.
Ano: 2002 URL: http://purl.umn.edu/30613
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Ownership Structure in the Post-Privatized Brazilian Steel Industry: Complexity, Instability and the Lingering Role of the State 31
Amann, Edmund; Ferraz, Joao Carlos.
This article examines the impacts of privatization on patterns of ownership structure and the role of the State in the Brazilian steel industry. Following a review of the theoretical literature our empirical analysis suggests that the results of privatization on the sector have been considerably more complex and nuanced than might have been expected. In particular we find that privatization has been associated with increasing complexity and instability in patterns of corporate ownership. At the same time, the State, far from withdrawing to the regulatory sidelines, has continued to play an active role both as a lender and as an important indirect investor.
Tipo: Working or Discussion Paper Palavras-chave: Brazil; Latin America; Privatization; Corporate Ownership; Role of the State; Industrial Organization.
Ano: 2004 URL: http://purl.umn.edu/30688
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