A Survey of Economic Policies and Macroeconomic Performance in Chile and Colombia, 1970-95

December 1, 1995

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Format: Chicago

Sergio Clavijo. A Survey of Economic Policies and Macroeconomic Performance in Chile and Colombia, 1970-95, (USA: International Monetary Fund, 1995) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This survey describes the timing and main macroeconomic results of the ambitious structural reforms adopted by Chile in the middle and late 1970s and by Colombia almost a decade later in the late 1980s and early 1990s. These reforms have enabled both countries to maintain vigorous real growth rates during the first part of the 1990s. However, they face challenges to their competitiveness as their real exchange rates continue to appreciate and real unit labor costs have been increasing. Although their exchange rate management system has helped to avoid an excessive inflow of short-term capital, interest rate differentials keep exerting pressures. Structural reforms have helped attract foreign direct investment, allowing the investment ratios of both countries to increase.

Subject: Balance of payments, Current account deficits, External debt, Foreign exchange, Labor, Real exchange rates, Real wages, Unemployment

Keywords: Asia and Pacific, Central Asia, Current account, Current account deficits, Debt indicator, East Asia, Export growth effort, GDP ratio, Growth correspond, Period Chile, Real exchange rates, Real wages, Unemployment, WP

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1995/139
Stock No:

WPIEA1391995
ISBN:

9781451929430
ISSN:

1018-5941

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