Chile: Institutions and Policies Underpinning Stability and Growth

Author: Mr. Eliot Kalter, Mr. Steven T Phillips, Mr. Manmohan Singh, Mr. Mauricio Villafuerte, Mr. Rodolfo Luzio, and Marco A Espinosa-Vega

Volume/Issue: Volume 2004 Issue 008

Publication date: June 2004

ISBN: 9781589063259

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Finance , Economics- Macroeconomics , Public Finance , OP , Chile , government , market , capital market , debt , U , S , dollar , natural resource , GDP ratio , government's policy , debt sustainability problem , government balance , risk model , Capital markets , Fiscal stance , Exports , Pension spending , East Asia , Eastern Europe , Global , Asia and Pacific , Europe

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Summary

This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully sequenced financial liberalization with in a strengthened regulatory framework.Chile has succeeded in sustaining these policies-despite external and domestic forces to the contrary-because of carefully designed institutional arrangements that encourage policies oriented toward long-term success.