About the Author

Rafael Di Tella is the Joseph C. Wilson Professor of Business Administration at Harvard Business School and a research associate of the NBER. Sebastian Edwards is the Henry Ford II Professor of International Economics at the Anderson Graduate School of Management, University of California, Los Angeles, and a research associate of the NBER. Ernesto Schargrodsky is a professor in and dean of the business school at Universidad Torcuato Di Tella.