Determinantes del Crecimiento y Estimación del Producto Potencial en Chile: El Rol del Comercio
The purpose of this paper is to determine the sources of Chilean growth in the 1960-96 period. Particularly, we seek to quantify the contribution of increased trade on growth. We also estimate potential output for the Chilean economy in the aforementioned period. The main results are that the Chilean economy has grown at an annual rate of 3,9% between 1960 and 1996. Although the contributions of each factor to growth have changed during these 37 years, on average, 1,6% of growth is explained by capital and 3,9% by labor. The contribution of trade is only significative in the eighties, consisting of approximately 1,5 percentage points for the 1986-96 period. The potential growth rate has been 6,5% during the nineties, increasing from 6,0% in 1990 to 7,0% in 1996. Hence, the economy has evolved around the productive frontier. Medium term projections show that with the actual levels of domestic savings, the continuity of growth at 7,0% annual rates will require superior levels of foreign saving than what is actually available, or alternatively, policies that promote saving or factor productivity growth.
|Date of creation:||Oct 1997|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (562) 670 2000
Fax: (562) 698 4847
Web page: http://www.bcentral.cl/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:chb:bcchwp:24. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Claudio Sepulveda)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.