Productivity and Economic Growth: The Case of Chile
In: Economic Growth: Sources, Trends, and Cycles
AbstractAfter a decade and a half of economic growth above 7% per year, the Chilean economy has been growing at rates below 3% during the last five years. In this article we suggest that in order to produce a new surge in economic growth, Chile needs a productivity shock arising from economic policy initiatives aimed at improving economic efficiency and institutions. Although Chile has a good record in both, it is still possible to have an upgrade. We run a cross section regression in which the dependent variable is total factor productivity. We conclude that modest changes in the countryâs policies and institutions may increase Chileâs rate of growth in 1.5 percent points.
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This chapter was published in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.) Economic Growth: Sources, Trends, and Cycles, , chapter 10, pages 309-342, 2002.
This item is provided by Central Bank of Chile in its series Central Banking, Analysis, and Economic Policies Book Series with number v06c10pp309-342.
Other versions of this item:
- Harald Beyer B. & Rodrigo Vergara M., 2002. "Productivity and Economic Growth: the Case of Chile," Working Papers Central Bank of Chile 174, Central Bank of Chile.
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- J. Rodrigo Fuentes, 2011. "Una Mirada Desagregada del Deterioro de la Productividad en Chile: Â¿Existe un Cambio Estructural?," Documentos de Trabajo 401, Instituto de Economia. Pontificia Universidad Católica de Chile..
- Nganou, Jean-Pascal & Kebede, Ephraim, 2012. "Sources of Growth in Post-Conflict Burundi: From Destruction to Production," MPRA Paper 43577, University Library of Munich, Germany.
- World Bank, 2004. "Chile : New Economy Study, Volume 2. Background Documents," World Bank Other Operational Studies 14711, The World Bank.
- World Bank, 2004. "Chile : New Economy Study, Volume 1. Executive Summary and Policy Recommendations," World Bank Other Operational Studies 14710, The World Bank.
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