During the 1990s, foreign direct investment flowed into Latin America at an unprecedented rate. Capital inflows associated with privatizations and private mergers and acquisitions (M&As) rose steeply. Drawing on original firm-level transactions data, this article examines the extent to which UK...

"This introductory chapter sets out the conceptual and empirical background for the book as well as the questions it addresses. The discussion suggests that despite many years of attempted reform and undoubted economic and social progress, Latin America has failed to close the income and...