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Los Resultados Macroeconómicos del Gobierno de Eduardo Frei RT: Una Evaluación Comparativa

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  • Guillermo Le Fort V

Abstract

This study undertakes a balance of the macroeconomic results of the Frei Ruiz-Tagle Administration compared with other Chilean administrations from the last third of the 20th century and with a group of emerging economies. In both comparisons, the Frei RT Administration enjoys among the best results according to the macroeconomic performance indicator constructed. Its principal strengths included control of inflation, economic growth, capital formation and savings, while its relative weaknesses were export growth and the unemployment rate. The results varied over time since contagion from the Asian crisis resulted in a weakening of overall performance. This experience demonstrates that, to prevent contagion from external crises, it is not sufficient to maintain a healthy financial system and low and stable inflation. Vulnerability to contagion can result from an excessive expansion in private expenditure, which presents a pending challenge to develop adequate instruments to confront this.

Suggested Citation

  • Guillermo Le Fort V, 2000. "Los Resultados Macroeconómicos del Gobierno de Eduardo Frei RT: Una Evaluación Comparativa," Working Papers Central Bank of Chile 81, Central Bank of Chile.
    • Handle: RePEc:chb:bcchwp:81
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    1. Francisco Gallego & Leonardo Hernández & Klaus Schmidt-Hebbel, 1999. "Capital Controls in Chile: Effective? Efficient?," Working Papers Central Bank of Chile 59, Central Bank of Chile.
    2. Guillermo Le Fort & Sergio Lehmann, 2000. "El Encaje, los Flujos de Capitales y el Gasto: Una Evaluación empírica," Working Papers Central Bank of Chile 64, Central Bank of Chile.
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