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A Unified Growth Model for Independent Chile

Author

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  • J. Rodrigo Fuentes

Abstract

This article analyzes long-term patterns of growth of the Chilean economy. Examining 200 years of data, it shows evidence in favor of using a neoclassical growth model to conduct the empirical analysis. It presents a formal analysis of structural breaks in the Chilean growth process, finding structural changes in 1929 and 1971/1981. A further analysis of the country’s economic history indicates that fiscal policy, external shocks and trade policy are plausible explanations for these breaks. When these variables are included in the empirical model, the hypothesis of no breaks during these 200 years cannot be rejected.

Suggested Citation

  • J. Rodrigo Fuentes, 2011. "A Unified Growth Model for Independent Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 48(2), pages 157-179.
    • Handle: RePEc:ioe:cuadec:v:48:y:2011:i:2:p:157-179
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    File URL: http://www.economia.uc.cl/docs/482fuea.pdf
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    Cited by:

    1. Christian Balcells, 2022. "Determinants of firm boundaries and organizational performance: an empirical investigation of the Chilean truck market," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 423-461, April.

    More about this item

    Keywords

    Chile; structural breaks; growth; fiscal policies; external shocks;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean

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