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Production Transformation Policy Review of Chile

Reaping the Benefits of New Frontiers

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Chile is a relatively stable, well-connected, open economy. Over the last decade the country has managed to increase its participation in global value chains and to export new products. However, its knowledge base is limited, productivity is stagnating and economic opportunities are still concentrated in a few places and limited to a few activities and firms. Today’s global production revolution offers a window of opportunity for Chile to “update” its growth model to become more inclusive and sustainable.

 

The Production Transformation Policy Review of Chile (PTPR) uses a forward-looking framework to assess the country readiness to embrace change, with perspectives on solar energy, mining and agro-food, and identifies priorities for future reforms. This review is the result of government-business dialogue and rigorous analysis. It benefitted from peer learning from Sweden, Germany and the Emilia Romagna Region in Italy through the OECD Initiative for Policy Dialogue on Global Value Chains, Production Transformation and Development.

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What's next on Chile's growth and development agenda?

OECD Development Centre

Chile has been growing in a sustained and relatively stable manner since the 1990s, thanks to effective macroeconomic management and its open economy. Today the Chilean model requires an “update” if it is to capture the gains offered by global technological and geopolitical changes and to meet the aspirations of its growing middle classes. Finding new sources of growth and broadening its economic base will be crucial for achieving shared prosperity. This chapter reviews Chile’s economic transformation and identifies four structural weaknesses that will need to be overcome to benefit from the window of opportunity opened in today’s global context.

English

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