While privatization of water, electricity, transportation and communications infrastructure continues to gain momentum in Latin America, its success often depends on whether countries implement the reforms essential to attract private investment. This book analyzes the legal, regulatory, economic and institutional issues that are key to smoothing the transition to privatized infrastructure. As the reform process reaches economies that are smaller and less developed, the emphasis is on establishing sound and credible rules that foster private initiative, preserve property rights, settle disputes, and protect contracts and consumers.