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Chile's Rapid Growth in the 1990's-Good Policies, Good Luck, or Political Change?

Author

Listed:
  • Mr. Esteban Jadresic
  • Mr. Roberto Zahler

Abstract

Chile’s average economic growth between 1990 and 1998 was above 7 percent per year, more than double than in previous decades, and higher than in any other Latin American country in the same period. This paper assesses empirically the main hypotheses suggested in the literature about the factors underlying this rapid growth: good economic policies, good luck in the external sector, and the country’s return to a democratic system of government. The statistical and quantitative results indicate that Chile’s rapid growth during the 1990s was due to good policies and the improved political situation.

Suggested Citation

  • Mr. Esteban Jadresic & Mr. Roberto Zahler, 2000. "Chile's Rapid Growth in the 1990's-Good Policies, Good Luck, or Political Change?," IMF Working Papers 2000/153, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2000/153
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    Cited by:

    1. Manuel Marfán & Juan Pablo Medina & Claudio Soto, 2009. "Overoptimism, Boom-Bust Cycles and Monetary Policy in Small Open Economies," Central Banking, Analysis, and Economic Policies Book Series, in: Klaus Schmidt-Hebbel & Carl E. Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.),Monetary Policy under Uncertainty and Learning, edition 1, volume 13, chapter 14, pages 563-600, Central Bank of Chile.
    2. Francisco Gallego & Norman Loayza, 2002. "The Golden Period for Growth in Chile. Explanations and Forecasts," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.),Economic Growth: Sources, Trends, and Cycles, edition 1, volume 6, chapter 13, pages 417-464, Central Bank of Chile.

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