The Political Economy of Chile's Fast Economic Growth: An Olsonian Interpretation

David E Hojman

Public Choice, 2002, vol. 111, issue 1-2, 155-78

Abstract: A conceptual framework inspired by Mancur Olson's contributions to political economy is used to explain Chile's recent economic and political performance, with particular emphasis on the "hidden hand", political stability, rent-seeking, policy-making quality, institutions, cultural attitudes and cultural change, fortunate historical accidents, critical masses, and virtuous circles and other "positive loops". The analysis combines very long-term with short-term perspectives, examining the war of Arauco, Basque immigration, open economy policies, families' educational investment, economic technocrats, female labour force participation, managerial perceptions of labour, and (other) old myth shattering. Some future trends are also predicted. Copyright 2002 by Kluwer Academic Publishers

Date: 2002
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