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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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Multi-level regulatory governance in Chile

This chapter sheds light on the organisation of the Chilean territory and its distribution of regulatory powers. It looks at how in most OECD member countries, different levels of government coexist and how they deal with the each one’s set of rules and attributions. It explains why promoting regulatory quality at the sub-national level would benefit citizens and business, especially with the ongoing initiatives of decentralization. It further describes the multi-level regulatory framework necessary to design, implement, and enforce regulation in order for one level not to undermine the other level’s regulatory effectiveness. Finally, it proposes a multi-level co-ordination mechanism in order to attain regulatory goals, as well as sharing good practices and possible learning experiences.

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