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OECD Reviews of Innovation Policy: Chile 2007

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The OECD Reviews of Innovation Policy offer a comprehensive assessment of the innovation system of individual OECD member and non-member countries, focusing on the role of government.  A growing political awareness of the importance of innovation for the Chile’s future has recently translated into two bold decisions: the creation of an Innovation Council for Competitiveness entrusted with the mission of proposing guidelines for a long-term national innovation strategy; and the introduction of a specific mining tax to increase resources available to implement this strategy. This report assesses the current status of Chile’s innovation system and policies, and identifies where improvements are most needed in order to make the most efficient use of this additional public investment.

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Overall Assessment and Recommendations

Chile, a small, open economy with traditionally strong resource-based production, has recorded an impressive economic performance over the last two decades. Growth of gross domestic product (GDP) per capita accelerated at a remarkable 5 to 6% a year in the 1990s, more than twice the long-term trend of 2.4% over the preceding 40 years. After a short-lived period of stagnation at the end of the 1990s, growth picked up again sharply in 2004 and 2005, partly owing to favourable conditions in Chile’s main export markets.

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