Chapter I - Investment in a period of transition Economic reforms and adaptation to change The context of the economic reforms Phases of post-reform investment Consolidation of the economic model Transitory factors in sectoral investment What the sectoral data show Transitory factors as determinants of sectoral investment Chapter II - Investment in the industrial sector A defensive stance in the face of change: a sectoral overview The first phase in the industrial sector The second phase in the industrial sector The varying responses of firms and sectors The reations of large firms The reactions of small and medium-sized firms The heterogeneity among branches of industry Investment growth and sectoral performance Value added and productivity Technological development Market orientation Heterogeneity of country performance The determinants of industrial investment The industrial setor in Argentina The industrial sector in Brazil The industrial sector in Colombia The industrial sector in Chile The industrial sector in Mexico The industrial sector in Peru Chapter III - Investment in the mining and hydrocarbon sectors The international mineral and hydrocarbon markets The evolution of the international minerals market The evolution of the international hydrocarbon market Institutional reform Reform of foreign investment laws Changes in sectoral legislation Reforms of the legislation on mining concessions Reforms of hydrocarbon contracts The new market structure regulation The structure of the mining sector market Market structure in the hydrocarbons sector Firm strategies and types of financing Firm strategies Types of financing Capital formation and sectoral performance Chapter IV - Investment in infrastructure The new institutional framework in electricity and telecommunications The privatization process Market structure Regulation Promotion of competition The pricing regime Investment after the reforms in electricity and telecommunications Transitory factors that determined sectoral investment Pent-up demand in telecommunications Investments, expansion and modernization commitmemnts Pricing incentives Other types of incentives State sponsored investment Future prospects Reform of road infrastructure Reforms to the institutional and legal framework The establishing of state guarantees The evolution of investments and private sector particiaption The response of the concessionaires The response of the government Financing the concessions Future prospects Chapter V - Synthesis and conclusions The post-reform transition stage and its effects on investor behaviour An overall conclusion: an uncertain future for aggregate investment Sectoral behaviour and weaknesses Industrial sector The manufacturing trade balance followed a negative trend The bulk of investment was concentrated in transnacional corporations and national conglomerates Small and medium-sized firms were the weakest players in the investment process Mining and hydrocarbon sectors The primary objective of the sectoral process Was to encourage investment by domestic and foreign privae firms Firm strategies fostered investment growth Infrastructure sectors The telecommunications sector has undoubtedly been the leader in this process Investment growth is least widespread in the eletricity sector In the 1990s the private sector became involved in the financing and management of road infrastructure