An important examination of corruption in Latin America. The editors ask tough questions about how corruption is affected when representative government and market reforms replace an authoritarian regime, and a comparative discussion about Italy illustrates that Latin America is not alone in confronting these problems. But the contributors also make clear that the wave of Latin American privatization in the 1990s often became a boon for those with inside information. Lawrence Whitehead asserts that reform was relatively clean and successful in Chile -- and even Bolivia -- but notes how bank privatization in many countries went awry, with Mexico being an extreme but not unique case. As he points out, the recent growth of money laundering will continue long after liberalization programs have been completed. Other authors examine the link between journalism and corruption and the strategies of the international agencies and banks, such as the Inter-American Development Bank and the World Bank, in tackling the problem.