Big Business and Bureaucratic Authoritarianism in Uruguay: A Network-Based Story of Policy Infiltration for Self-Preservation

Juan A. Bogliaccini (), Juan Geymonat () and Martín Opertti ()
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Juan A. Bogliaccini: Universidad Católica del Uruguay
Juan Geymonat: Universidad de la República
Martín Opertti: Universidad Católica del Uruguay

Chapter Chapter 5 in Big Business and Dictatorships in Latin America, 2021, pp 127-156 from Palgrave Macmillan

Abstract: Abstract Between 1973 and 1985, Uruguay was ruled by a Bureaucratic-Authoritarian regime. Following regional trends, this period mostly coincided with the stagnation of the industrialization model oriented toward the domestic market. The transition to an open-market model, however, did not exhibit the same characteristics of other countries like Chile, where the adoption of free-market reforms was more radical, displacing previous institutions. This chapter argues that the organization of corporate Uruguay around business groups was a crucial element for neutralizing potential negative consequences of the economic reforms; in turn, it shaped the liberalization process. Businesses applied two main adaptive strategies: direct and individualized participation in government, and financial mismanagement. The analysis is based on a combination of historical and network analysis to show how the structure of the business community and corporate finance made these two adaptive strategies possible. As a result, the corporate governance structure of Uruguay was not dramatically altered by either the dictatorship or the liberalization process.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pslchp:978-3-030-43925-5_5

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DOI: 10.1007/978-3-030-43925-5_5

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