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Economic Growth in Chile: Evidence, Sources and Prospects

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  • Jose De Gregorio

Abstract

This paper reviews the Chilean experience of growth, with particular focus on the rapid growth that began in the mid-1980s, as the economy recovered from the crisis of 1982. This process slowed down in the late nineties. This paper also reviews the evidence on growth and decomposes the rate of growth and the level of output into its components. It discusses the strengths and weaknesses that explain Chile’s growth take-off and that support future growth. Finally, the paper reviews estimates of the potential rate of long-run growth for the Chilean economy

Suggested Citation

  • Jose De Gregorio, 2004. "Economic Growth in Chile: Evidence, Sources and Prospects," Working Papers Central Bank of Chile 298, Central Bank of Chile.
  • Handle: RePEc:chb:bcchwp:298
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    1. L. ALAN WINTERS & NEIL McCULLOCH & ANDREW McKAY, 2015. "Trade Liberalization and Poverty: The Evidence So Far," World Scientific Book Chapters,in: Non-Tariff Barriers, Regionalism and Poverty Essays in Applied International Trade Analysis, chapter 14, pages 271-314 World Scientific Publishing Co. Pte. Ltd..
    2. Jose De Gregorio, 2003. "Productivity Growth and Disinflation in Chile," Working Papers Central Bank of Chile 246, Central Bank of Chile.
    3. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
    4. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
    5. Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 641-680.
    6. Francisco Rodriguez & Dani Rodrik, 2001. "Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-National Evidence," NBER Chapters,in: NBER Macroeconomics Annual 2000, Volume 15, pages 261-338 National Bureau of Economic Research, Inc.
    7. Harald Beyer & Rodrigo Vergara, 2002. "Productivity and Economic Growth: The Case of Chile," 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 10, pages 309-342 Central Bank of Chile.
    8. Stephen L. Parente & Edward C. Prescott, 2002. "Barriers to Riches," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661306, January.
    9. Bustos, Alvaro & Engel, Eduardo M. R. A. & Galetovic, Alexander, 2004. "Could higher taxes increase the long-run demand for capital? Theory and evidence for Chile," Journal of Development Economics, Elsevier, vol. 73(2), pages 675-697, April.
    10. Claudio Bravo-Ortega & Jose De Gregorio, "undated". "The Relative Richness of the Poor? Natural Resources, Human Capital and Economic Growth," Working Papers Central Bank of Chile 139, Central Bank of Chile.
    11. Jeffrey D. Sachs, 2003. "Institutions Don't Rule: Direct Effects of Geography on Per Capita Income," NBER Working Papers 9490, National Bureau of Economic Research, Inc.
    12. Alvarez, Roberto & Crespi, Gustavo & Ramos, Joseph, 2002. "The Impact of Licenses on a "Late Starter" LDC: Chile in the 1990s," World Development, Elsevier, vol. 30(8), pages 1445-1460, August.
    13. Raphael Bergoeing & Patrick J. Kehoe & Timothy J. Kehoe & Raimundo Soto, 2002. "Decades lost and found: Mexico and Chile since 1980," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 3-30.
    14. Juan Eduardo Coeymans & Felipe Larraín, 1994. "Efectos de un Acuerdo de Libre Comercio entre Chile y Estados Unidos: Un Enfoque de Equilibrio General," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 31(94), pages 357-400.
    15. Douglas Gollin, 2002. "Getting Income Shares Right," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 458-474, April.
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    Cited by:

    1. repec:eee:hepoli:v:121:y:2017:i:5:p:495-503 is not listed on IDEAS
    2. José De Gregorio, 2005. "Sustained Growth in Latin America," Economic Policy Papers Central Bank of Chile 13, Central Bank of Chile.
    3. Jose De Gregorio, 2006. "Economic Growth in Latin America: From the Disappointment of the Twentieth Century to the Challenges of the Twenty-First," Working Papers Central Bank of Chile 377, Central Bank of Chile.
    4. Eduardo Wiesner, 2008. "The Political Economy of Macroeconomic Policy Reform in Latin America," Books, Edward Elgar Publishing, number 12913, April.

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