THE POLITICAL-ECONOMY OF PRIVATIZATION THROUGH DIVESTITURE IN LESSER DEVELOPED ECONOMIES

This article puts forward a framework of analysis to Organize conceptually the many factors often cited in the literature dealing with privatization policies in lesser developed economies. Using Argentina as a case in point, it argues that the concept of policy substitutability can help us in understanding why Latin American leaders are embracing privatization policies while their predecessors had advocated state interventionism.