Chile: Institutions and Policies Underpinning Stability and Growth

Eliot Kalter, Steven Phillips, Manmohan Singh, Mauricio Villafuerte, Rodolfo Luzio and Marco Espinosa-Vega ()

No 2004/008, IMF Occasional Papers from International Monetary Fund

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
Pages: 96
Date: 2004-06-28
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=17087 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfops:2004/008

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Occasional Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().