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Chile's experience with stabilization, revisited

  • Corbo, Vittorio
  • Solimano, Andres

This paper evaluates Chile's stabilization policies since the early 1970s. Four episodes are examined: (a) the high inflation at the beginning of the military regime when inflation was close to 1000 percent per year; (b) the orthodox stabilization program of 1975; (c) the exchange rate-based stabilization of February 1978-June 1982; and (d) the post-1984 adjustment period with a large real devaluation and low inflation. Finally an overall evaluation of the post-1973 experience with stabilization is provided.

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File URL: http://www-wds.worldbank.org/servlet/WDSContentServer/WDSP/IB/1991/01/01/000009265_3960930145048/Rendered/PDF/multi0page.pdf
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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 579.

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Date of creation: 31 Jan 1991
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Handle: RePEc:wbk:wbrwps:579
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  1. Solimano, Andres, 1986. "Contractionary devaluation in the southern cone : The case of Chile," Journal of Development Economics, Elsevier, vol. 23(1), pages 135-151, September.
  2. Sebastian Edwards, 1985. "Are Devaluations Contractionary?," NBER Working Papers 1676, National Bureau of Economic Research, Inc.
  3. Fischer, Stanley, 1988. "Real Balances, the Exchange Rate, and Indexation: Real Variables in Disinflation," The Quarterly Journal of Economics, MIT Press, vol. 103(1), pages 27-49, February.
  4. Stanley Fischer, 1984. "Real Balances, the Exchange Rate and Indexation: Real Variables in Disinflation," NBER Working Papers 1497, National Bureau of Economic Research, Inc.
  5. Corbo, Vittorio, 1982. "Monetary policy with an overrestricted demand for money equation : Chile in the 60's," Journal of Development Economics, Elsevier, vol. 10(1), pages 119-126, February.
  6. International Monetary Fund, 1990. "Capital Mobility in Developing Countries; M386Some Empirical Tests," IMF Working Papers 90/117, International Monetary Fund.
  7. L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
  8. Corbo, Vittorio & de Melo, Jaime, 1987. "Lessons from the Southern Cone Policy Reforms," World Bank Research Observer, World Bank Group, vol. 2(2), pages 111-42, July.
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