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

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 fir...

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Fecha de publicación:: 2020

Institución:: Universidad del Rosario

Repositorio:: Repositorio EdocUR - U. Rosario

Idioma:: eng

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spelling	a3aafbb8-0bd1-4c23-bd4b-a3fe5c65c38a-1b32a7602-9ee6-4f15-a730-3ab644b4775f-1f52a584f-8cab-4cdc-8f3e-32a656c0a8ec-12020-05-25T23:56:08Z2020-05-25T23:56:08Z2020We 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. © The Economic History Association 2020.application/pdfhttps://doi.org/10.1017/S00220507190007801471637200220507https://repository.urosario.edu.co/handle/10336/22334engCambridge University PressJournal of Economic HistoryJournal of Economic History, ISSN:14716372, 00220507,(2020)https://www.scopus.com/inward/record.uri?eid=2-s2.0-85079215310&doi=10.1017%2fS0022050719000780&partnerID=40&md5=084bff3084e1cb7307bea76a6cb53312Abierto (Texto Completo)http://purl.org/coar/access_right/c_abf2instname:Universidad del Rosarioreponame:Repositorio Institucional EdocURPrivatizationOriginsPoliticalCorporationsEvidencefromPinochetRegimeThe Privatization Origins of Political Corporations: Evidence from the Pinochet RegimearticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501González F.Prem M.Urzúa I F.10336/22334oai:repository.urosario.edu.co:10336/223342022-05-02 07:37:20.349316https://repository.urosario.edu.coRepositorio institucional EdocURedocur@urosario.edu.co
dc.title.spa.fl_str_mv	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime
title	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime
spellingShingle	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime Privatization Origins Political Corporations Evidence from Pinochet Regime
title_short	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime
title_full	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime
title_fullStr	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime
title_full_unstemmed	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime
title_sort	The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime
dc.subject.keyword.spa.fl_str_mv	Privatization Origins Political Corporations Evidence from Pinochet Regime
topic	Privatization Origins Political Corporations Evidence from Pinochet Regime
description	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. © The Economic History Association 2020.
publishDate	2020
dc.date.accessioned.none.fl_str_mv	2020-05-25T23:56:08Z
dc.date.available.none.fl_str_mv	2020-05-25T23:56:08Z
dc.date.created.spa.fl_str_mv	2020
dc.type.eng.fl_str_mv	article
dc.type.coarversion.fl_str_mv	http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.coar.fl_str_mv	http://purl.org/coar/resource_type/c_6501
dc.type.spa.spa.fl_str_mv	Artículo
dc.identifier.doi.none.fl_str_mv	https://doi.org/10.1017/S0022050719000780
dc.identifier.issn.none.fl_str_mv	14716372 00220507
dc.identifier.uri.none.fl_str_mv	https://repository.urosario.edu.co/handle/10336/22334
url	https://doi.org/10.1017/S0022050719000780 https://repository.urosario.edu.co/handle/10336/22334
identifier_str_mv	14716372 00220507
dc.language.iso.spa.fl_str_mv	eng
language	eng
dc.relation.citationTitle.none.fl_str_mv	Journal of Economic History
dc.relation.ispartof.spa.fl_str_mv	Journal of Economic History, ISSN:14716372, 00220507,(2020)
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dc.rights.coar.fl_str_mv	http://purl.org/coar/access_right/c_abf2
dc.rights.acceso.spa.fl_str_mv	Abierto (Texto Completo)
rights_invalid_str_mv	Abierto (Texto Completo) http://purl.org/coar/access_right/c_abf2
dc.format.mimetype.none.fl_str_mv	application/pdf
dc.publisher.spa.fl_str_mv	Cambridge University Press
institution	Universidad del Rosario
dc.source.instname.spa.fl_str_mv	instname:Universidad del Rosario
dc.source.reponame.spa.fl_str_mv	reponame:Repositorio Institucional EdocUR
repository.name.fl_str_mv	Repositorio institucional EdocUR
repository.mail.fl_str_mv	edocur@urosario.edu.co
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The Privatization Origins of Political Corporations: Evidence from the Pinochet Regime

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