Suchergebnisse

Cover -- CONTENTS -- CONTEXT -- RECENT DEVELOPMENTS -- OUTLOOK AND RISKS -- POLICY DISCUSSION -- A. Policy Mix -- B. Reforms -- C. Financial and Corporate Sector -- D. Other Structural Issues -- STAFF APPRAISAL -- BOXES -- 1. The Role of Domestic and External Factors in the Fall of Private Investment -- 2. Corporate Sector Vulnerabilities -- FIGURES -- 1. Economic Activity -- 2. Fiscal Policy and Public Finances -- 3. Monetary Policy and Inflation -- 4. External Sector -- 5. Financial Sector -- 6. Housing Market Developments -- TABLES -- 1. Selected Social and Economic Indicators (2010-16) -- 2. Summary Operations of the Central Government -- 3. Balance of Payments -- 4. Monetary Survey -- 5. Medium-Term Macroeconomic Framework -- 6. Indicators of External Vulnerability -- 7. Financial Soundness Indicators (2009-14) -- ANNEXES -- I. External Sector Assessment Report -- II. Trade and Financial Linkages -- III. Women in Chile's Labor Market: Addressing the Gender Gap -- CONTENTS -- FUND RELATIONS -- STATISTICAL ISSUES -- WORLD BANK-FUND COUNTRY-LEVEL WORK PROGRAM UNDER JMAP.

This article presents the first attempt to evaluate the direct economic return of the provision of public geoscience information in Chile. To achieve this goal the study uses multiplier effect ratios through the value chain of PGI and a probabilistic discounted cash flow model to evaluate the economic returns of different scenarios for the ongoing governmental program mandated to generate country-scale geological information, named the National Geological Program. The study shows that, in average, every dollar invested in PGI in Chile during the past three decades could have generated 11.5 dollars of government tax revenues from the mining industry (in terms of its NPV), with an IRR of around 21%. These results are in accordance with comparable studies abroad, but they should be taken carefully due to methodological restrictions of the study. These indicators are positive in almost all the scenarios considered in the study, despite that they show a wide range of results. Similar outcomes are obtained for the National Geological Program when different scenarios are evaluated. ; "Mining Leaders Program" financed by Compañía Minera Doña Inés de Collahuasi and Minera Escondida; Conicyt and to the grant #130065 "Millenium Nucleus for Metal Tracing along Subduction" from ICM; and FE the support of Sernageomin.

The increasing investment flows within Latin American countries is a recent experience. In this context, Brazil has become a relevant investment pole for Chile, although capitals from that country represent a low percentage of overall investment. This paper examines Brazilian investments in Chile, with special reference to perceptions of public, academic and governmental actors involved in developing investment. There is consensus on benefits of brazilian investment for Chile and that the country continues to be attractive for foreign capitals. However, the small size of its market, labor conflicts and costs, and the fact that it is inadequately prepared to act as a hub for the rest of the world, urgently requires reformulating the chilean scenario for investors. Finally, some topics for a bilateral agenda in this field are proposed. ; El crecimiento de los flujos de inversión extranjera directa entre los países de América Latina es un fenómeno reciente. En este contexto, Brasil se ha convertido en importante polo de atracción de inversiones para Chile, a pesar de que los capitales provenientes de ese país representan un bajo porcentaje del total recibido. El presente artículo examina las inversiones brasileñas en Chile, con especial referencia a las percepciones de los principales actores de los sectores público, académico y privado involucrados en el proceso de inversión, tanto chilenos como brasileños. Si bien en Chile hay consenso en la importancia de atraer capitales brasileños y en que el país continúa siendo un destino atractivo para los inversionistas, el reducido tamaño de su mercado, los recientes conflictos laborales y los altos costos así como el hecho de que el país no esté adecuadamente preparado para convertirse en una plataforma de exportaciones plantean la necesidad de reformular el escenario para hacerlo más atractivo para los inversionistas. Finalmente, se proponen temas para una posible agenda de carácter bilateral en esta materia.

AbstractOnce prey to government patrimonial practices, the Corporación de Fomento de la Producción (CORFO), Chile's economic development agency, overcame this problem in the early 1990s. In 2000 CORFO established a High Technology Investment Promotion Program to promote foreign direct investment in high technology and other nontraditional sectors. This article applies concepts of political survival and cooperation to explain how CORFO moved from patrimonialism to technocratic independence. Then it demonstrates that governments possessing technocratic independence but lacking other characteristics typically associated with successful investment promotion efforts can develop transnational strategic networks of individuals, business associations, and universities to facilitate their learning process in order to devise more effective strategies to promote nontraditional FDI.

Chile's long term social policy has produced very impressive outcomes in general health indicators, with a national health service established as early as 1952. During the years of the Pinochet dictatorship (1973-89) public health institutions were greatly affected, with sharp diminution in financing which affected investment and salaries. The democratic government initiated in 1990 faced a difficult situation, with underpaid staff and decrepit hospitals. The ministry took immediate action to improve salaries and start an ambitious health sector reform including investment in infrastructure, technology, and modern management. Decentralisation and autonomy, changes in payment for service mechanisms, and a public-private mix are the main objectives of this reform, keeping the public role as predominant in the proposed structure. This process has been affected by union unrest and public opinion dissatisfaction, which tend to present obstacles to progress in this complicated issue.