The evolution of macroprudential policy use in Chile, Latin America and the OECD

Carlos Madeira

Journal of Banking Regulation, 2023, vol. 24, issue 3, No 7, 357-380

Abstract: Abstract This study compares the use of macroprudential policies and capital flow management in Chile versus other countries. I find that Chile made a lower net tightening of its macroprudential policies relative to 1990 than the other country groups, whether in terms of its overall index or any of its subcategories. However, Chile still presents a restrictive Loan to Value regulation, close to the OECD average. In terms of Financial Openness and Capital Controls, Chile was very closed until the Asian crisis. Chile is more open with respect to capital inflows relative to all the country groups, although it is still more closed than the OECD and Advanced Economies for outflows.

Keywords: Macroprudential policy; Financial development; Financial openness; Capital flow management; Capital controls (search for similar items in EconPapers)
JEL-codes: E44 G28 O10 O16 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1057/s41261-022-00202-7

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