Undoing the Damage in Chile Jayati Ghosh

It was no surprise to anyone in Chile or outside when Michelle Bachelet romped home convincingly in a landslide victory in the run-off for the Presidential election in December. Indeed, the only surprise was that while she took 62 per cent of the vote, the voting rate itself fell to only 44 per cent of the electorate. Bachelet, the pediatrician mother of four who was also among the students persecuted by the military dictatorship in the 1970s, has already served as President once. She completed her first term with an incredible 84 per cent popularity rating, which must be a…

Economic Growth, Employment and Poverty Reduction: A comparative analysis of Chile and Mexico Alicia Puyana

This study attempts to explain the evolution of poverty and income concentration in Chile and Mexico. It focuses on the impact that changes in the rates and pattern of economic growth have had on poverty. The author concludes that since the rise in labour productivity was not accompanied by an increase in total production, there was a sustained reduction of the GDP elasticity of employment, which resulted in poverty. economic_growth (Download the full text in PDF format) (This ILO Employment Working Paper No-78, 2011 has been hosted with due permission from ILO.)

The Uses of Chile: How politics trumped truth in the neo-liberal revision of chile’s development a ‘public citizen’ discussion paper september 2006

While defenders of neo-liberalism flaunt Chile’s economic success as the result of its adherence to neo-liberal economic policies, this paper finds that Chile’s recent decades of steady growth in fact showcase the successful use of non-neo-liberal policies. This high growth scenario also hides the fact that many of the neo-liberal policies adopted in Chile have caused economic harm or have not helped needy sectors of society and the environment in terms of generating a high income inequality, unsustainable export led growth dependent heavily on exploitation of a few natural resources and a significant contraction of the manufacturing sector. chile_alternatives (Download…

A New Developmentalist Welfare State Model in the Making? Chile in Latin America Manuel Riesco

During the 20th Century, the Chilean State presided over the modernization of the country, largely through two successive and violently conflicting strategies, which in a certain sense seem to conform a unity as well. While the country is out of this painful transition, and once again at the crossroads of yet another momentous shift in its State-led development strategy, the emerging State strategy seems to demand a closer engagement with similar processes that seem to be taking place throughout Latin America. welfare_state_model (Download the full text in PDF format)

Banking FDI in Latin America: An Economic Coup Sukanya Bose

Since the mid-1990s, foreign direct investment into the banking industry in many emerging market economies has been growing at an unprecedented scale. The paper examines the consequences of this phenomenon on banking sector's efficiency, credit aggregates, and stability in the context of the Latin American economies. Banking_FDI (Download the full text in PDF format)  

Neoliberalism, Investment and Growth in Latin America Jayati Ghosh and C.P. Chandrasekhar

The recent experience of most economies in Latin America contradicts the argument that neoliberal market-oriented policies are necessary for increasing investment and growth, even if they may have harmful effects on distribution and social sectors. This calls for a serious reconsideration of the idea that such policies are necessary for higher investment and more economic growth. Neoliberalism (Download the full text in PDF format)

Export Dynamism and Growth in Chile since the 1980’s Ricardo Ffrench-Davis

The high export growth that Chile witnessed started from the seventies, and was supposedly triggered off by the trade liberalising reforms in that period. A more detailed look into the export pattern reveals separate and distinct phases not always of high growth, and which were clearly determined by the macroeconomic policies and the specific nature of the reform programmes that were in existence in each of these phases over the last three decades. export_dynamism_chile (Download the full text in PDF format)

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