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This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The Economic situation and policies of Chile were reviewed by the Committee on 4 November 2015. The draft was revised in the light of the discussion and given final approval as the agreed report of the whole Committee on 19 November 2015.The Secretariat’s draft report was prepared for the Committee by Sean Dougherty and Eduardo Olaberria, under the supervision of Patrick Lenain. Damien Azzopardi provided statistical research assistance, and Brigitte Beyeler provided administrative support. The Survey also benefitted from contributions from Bert Brys, Martin Fernandez-Sanchez, Guillermo Montt, Ira Postolachi, Diana Toledo Figueroa and Richard Yelland.The previous Survey of Chile was issued in October 2013.
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The quality of life of Chileans has improved significantly over the last few decades, and along several dimensions of well-being it approaches the OECD average, notably jobs and earnings, work-life balance and health (, Panel A). The increase in average disposable income and reduction in poverty (Panel B) has been among the most rapid in the OECD, as a consequence of economic reforms, such as trade and investment liberalisation, and the sound macroeconomic policies that have controlled inflation and smoothed economic cycles, reducing uncertainty and encouraging investment. Continued progress will require further economic transformation towards a more knowledge-based and innovative economy, with more firms capable of participating and upgrading their activities in global value chains. Further improvements in well-being will also need to address the sizable gaps that remain in many well-being indicators across social groups and between sexes ().
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