Ownership Structure in the Post-Privatized Brazilian Steel Industry: Complexity, Instability and the Lingering Role of the State
Edmund Amann and
Joao Carlos Ferraz
No 30688, Centre on Regulation and Competition (CRC) Working papers from University of Manchester, Institute for Development Policy and Management (IDPM)
This article examines the impacts of privatization on patterns of ownership structure and the role of the State in the Brazilian steel industry. Following a review of the theoretical literature our empirical analysis suggests that the results of privatization on the sector have been considerably more complex and nuanced than might have been expected. In particular we find that privatization has been associated with increasing complexity and instability in patterns of corporate ownership. At the same time, the State, far from withdrawing to the regulatory sidelines, has continued to play an active role both as a lender and as an important indirect investor.
Keywords: Industrial; Organization (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:idpmcr:30688
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