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Regulatory Policy in Chile

Government Capacity to Ensure High-Quality Regulation

image of Regulatory Policy in Chile

One of Chile’s biggest strengths is its very sound macroeconomic framework that reinforces its economic resilience. This is partly based on a prudent regulatory and supervisory framework governing the financial system. Furthermore, the government’s Agenda for Productivity, Innovation and Growth, co-ordinated by the Ministry of Economy with the participation of other ministries and state services, constitutes a good opportunity to use regulatory policy as a driver to reform the policymaking framework of Chile. For example, Chile has already made substantive progress in making regulations more accessible and communicating administrative requirements. However, while in Chile national regulations provide the general framework for administrative procedures and an efficient state administration, the lack of a comprehensive regulatory reform programme has reduced the possibility of achieving even better economic outcomes and unleashing resources to boost productivity. The regulatory policymaking framework lacks some key features seen in other OECD countries (e.g. stakeholder engagement, regulatory impact assessment, oversight body) that would make sure that regulations are designed in the best way. Good practices in rule-making procedures are also rather limited. This review presents the way forward for improving the government’s capacity to ensure high-quality regulation in Chile.

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Examining Chile's administrative capacities for making new regulations

Chapter 4 sheds light on how current processes for passing laws and subordinate regulations support the application of the core principles of good regulation. It describes and evaluates systematic capacities to generate high-quality regulation, and to ensure that both processes and decisions are transparent to the public. In doing so, it touches upon several practices implemented by other OECD countries such as forward planning, effective communication and accessibility of rules for regulated entities, the use of plain language when drafting and communicating regulation. The chapter also analyses the use of consultation for dialogue with affected groups and stakeholders and its consequence regarding the choice of policy instruments embodied in the figure of new regulations or other non-regulatory alternatives. Finally, it introduces the notion, and potential use, of Regulatory Impact Assessment as part of evidence-based rule-making.

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