| Article ID: | iaor199717 |
| Country: | United States |
| Volume: | 8 |
| Start Page Number: | 170 |
| End Page Number: | 187 |
| Publication Date: | May 1996 |
| Journal: | Public Budgeting and Financial Management |
| Authors: | Milman Claudio |
| Keywords: | management, economics, government, statistics: empirical, statistics: sampling |
This study describes the privatization experience of Chile focusing primarily on the role played by debt-equity-swaps (DES). The use of a survey instrument and archival data suggest that DES speeded up the privatization process in Chile and made the privatization of large State Owned Enterprises easier. This is the first empirical study linking financial innovation (e.g. DES) to a privatization program.