Import Liberalization in 1973–82

Ricardo Ffrench-Davis

Chapter II in Economic Reforms in Chile, 2010, pp 53-76 from Palgrave Macmillan

Abstract: Abstract The distinctive characteristic of trade policies implemented in 1973 was the sharp unilateral import liberalization, which was undertaken to a degree then unprecedented in modern economic history in other semi-industrialized or emerging economies. By establishing a uniform tariff of 10% for nearly all imports, and deleting non-tariff restrictions, this liberalization suppressed all selective criteria for regulating them. Trade liberalization was accompanied by a reduction in restrictions on foreign exchange dealings and on capital flows.

Keywords: Exchange Rate; Real Exchange Rate; Trade Policy; Trade Liberalization; Aggregate Demand (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28965-9_2

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DOI: 10.1057/9780230289659_2

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