The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime

Felipe González, Mounu Prem, Francisco I. Urzúa

Resultado de la investigación: Contribución a una revistaArtículorevisión exhaustiva

3 Citas (Scopus)

Resumen

We show that the sale of state-owned firms in dictatorships can help political corporations to emerge and persist over time. Using new data, we characterize Pinochet's privatizations in Chile and find that some firms were sold underpriced to politically connected buyers. These newly private firms benefited financially from the Pinochet regime. Once democracy arrived, they formed connections with the new government, financed political campaigns, and were more likely to appear in the Panama Papers. These findings reveal how dictatorships can influence young democracies using privatization reforms.

Idioma originalInglés estadounidense
Páginas (desde-hasta)417-456
Número de páginas40
PublicaciónJournal of Economic History
Volumen80
N.º2
DOI
EstadoPublicada - jun 1 2020

All Science Journal Classification (ASJC) codes

  • Historia
  • Economía y econometría
  • Economía, econometría y finanzas (miscelánea)

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