Chile: Institutions and Policies Underpinning Stability and Growth

By Eliot Kalter, Steven T Phillips, Manmohan Singh, Mauricio Villafuerte, Rodolfo Luzio, Marco A Espinosa-Vega

June 28, 2004

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Eliot Kalter, Steven T Phillips, Manmohan Singh, Mauricio Villafuerte, Rodolfo Luzio, and Marco A Espinosa-Vega. Chile: Institutions and Policies Underpinning Stability and Growth, (USA: International Monetary Fund, 2004) accessed November 22, 2024

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.

Subject: Banking, Capital markets, Expenditure, Exports, External debt, Financial markets, Fiscal policy, Fiscal stance, International trade, Pension spending

Keywords: Asia and Pacific, Capital market, Capital markets, Chile, Debt, Debt sustainability problem, East Asia, Eastern Europe, Europe, Exports, Fiscal stance, GDP ratio, Global, Government, Government balance, Government's policy, Market, Natural resource, OP, Pension spending, Risk model, U.S. dollar

Publication Details

Pages:

96
Volume:

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DOI:

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Issue:

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Series:

Occasional Paper No. 2004/008
Stock No:

S231EA
ISBN:

9781589063259
ISSN:

0251-6365

Supplemental Resources

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