Determinantes de la Inversión en Chile
The paper reviews recent evidence related to the evolution of investment and its determinants in Chile and its relationship to medium- and long-term growth. It also reviews the main theoretical views that relate investment and growth, as well as international evidence. In Chile since 1990, gross fixed capital formation has been around 25% of GDP, with a steady increase in the weight of machinery. Investment has responded to its fundamentals such as the cost of capital and growth perspectives. It has also been highly procyclical. The paper concludes with a review of studies about the tax on retained earnings.
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