Chilean Growth through East Asian Eyes

Chile could well have space to increase its growth potential by 2 percentage points of Gross Domestic Product (GDP) per year. To do this, it would need to pay more attention to new sources of growth in natural resources, manufacturing, and services...

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Main Authors: Kharas, Homi, Leipziger, Danny, Maloney, William, Thillainathan, R., Hesse, Heiko
Format: Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
GDP
ICT
PCS
TFP
Online Access:http://documents.worldbank.org/curated/en/754381468326995501/Chilean-growth-through-East-Asian-eyes
http://hdl.handle.net/10986/28028
id okr-10986-28028
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ACTION PLAN
ACTION PLANS
AGGREGATE LEVEL
ANNUAL GROWTH
AVERAGE GROWTH
AVERAGE PRODUCTIVITY
AVERAGE PRODUCTIVITY LEVELS
BARGAINING
BENCHMARKING
BENCHMARKS
BEST PRACTICE
BEST PRACTICES
BEST-PRACTICE
BROADBAND
BUDGET ALLOCATIONS
BUSINESS CLIMATE
BUSINESS CYCLE
BUSINESS CYCLES
BUSINESS INDICATORS
BUSINESS LEADERS
BUSINESS OPPORTUNITIES
BUSINESS PLAN
BUSINESS SECTOR
BUSINESSES
CAPITAL ACCUMULATION
CAPITAL EXPENDITURE
CAPITAL FLOWS
CAPITAL FORMATION
CAPITAL INVESTMENT
CAPITAL MARKETS
CENTRAL BANK
COLLECTIVE BARGAINING
COMMODITY
COMPARATOR COUNTRIES
COMPETITIVENESS
COMPUTER TRAINING
COUNTRY CASE
COUNTRY REGRESSIONS
COUNTRY RISK
COUNTRY SPECIFIC
DEREGULATION
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
DEVELOPMENT AGENCY
DEVELOPMENT GOALS
DEVELOPMENT INDICATORS
DEVELOPMENT OF KNOWLEDGE
DEVELOPMENT POLICY
DEVELOPMENT PRACTITIONERS
DEVELOPMENT STRATEGY
DIGITAL DIVIDE
DISPLACEMENT
DIVERSIFICATION
DRIVERS
E-MAIL
EBUSINESS
ECONOMETRIC MODELING
ECONOMIC BENEFITS
ECONOMIC CONDITIONS
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC PERFORMANCE
ECONOMIC POLICY
ECONOMICS
EMPIRICAL WORK
EMPLOYMENT
EXPECTED VALUE
EXPORT DIVERSIFICATION
EXPORT GROWTH
EXPORTS
EXTERNALITIES
EXTERNALITY
FACTOR ACCUMULATION
FEMALE EMPLOYMENT
FEMALE LABOR
FEMALE LABOR FORCE
FINANCIAL CRISIS
FINANCIAL MARKETS
FINANCIAL SERVICES
FISCAL POLICIES
FISCAL POLICY
FLEXIBLE LABOR MARKETS
FOREIGN EXCHANGE
FREE TRADE
GDP
GDP PER CAPITA
GLOBAL COMPETITIVENESS
GLOBAL CONDITIONS
GLOBAL ECONOMY
GLOBALIZATION
GOVERNMENT POLICIES
GOVERNMENT SUBSIDY
GROSS OUTPUT
GROWTH PATH
GROWTH PERFORMANCE
GROWTH POLICIES
GROWTH POTENTIAL
GROWTH RATE
GROWTH RATES
GROWTH REGRESSION
GROWTH STRATEGIES
GROWTH STRATEGY
GROWTH SUCCESSES
HIGH GROWTH
HUMAN CAPITAL
HUMAN RESOURCE
HUMAN RESOURCE DEVELOPMENT
ICT
IMPROVING PRODUCTIVITY
INCOME
INCOME LEVELS
INDUSTRIALIZED COUNTRIES
INFORMATION INFRASTRUCTURE
INNOVATION
INNOVATION POLICIES
INNOVATIONS
INSTITUTION
INTANGIBLE ASSETS
INTERNATIONAL STANDARDS
INTERNATIONAL TRADE
INVESTMENT CLIMATE
JOB CREATION
KNOWLEDGE ECONOMY
KNOWLEDGE WORKERS
LABOR COSTS
LABOR DEMAND
LABOR FORCE
LABOR FORCE PARTICIPATION
LABOR MARKET
LABOR PRODUCTIVITY
LEGAL FRAMEWORK
LEVELS OF OUTPUT
LICENSES
LIVING STANDARDS
LOTTERY
MACRO STABILITY
MACROECONOMIC POLICIES
MACROECONOMIC STABILIZATION
MANPOWER
MANPOWER PLANNING
MANUFACTURING
MARGINAL PRODUCTS
MARKET ECONOMY
MARKET FAILURES
MARKET SHARE
MATHEMATICS
MEDIUM ENTERPRISES
NATURAL RESOURCES
NETWORKS
NEW TECHNOLOGIES
NEXT GENERATION
ORGANIZED LABOR
OUTSOURCING
PACE OF INNOVATION
PCS
PER CAPITA GROWTH
PER CAPITA INCOME
PHYSICAL DISTANCE
POLICY CHANGE
POLICY CHANGES
POLICY INTERVENTIONS
POLICY MAKERS
POLITICAL ECONOMY
POLITICAL PROCESS
POVERTY REDUCTION
PRIVATE INVESTMENT
PRIVATE PARTNERSHIPS
PRIVATE SECTOR
PRIVATE SECTOR DEVELOPMENT
PRIVATE SECTORS
PROCUREMENT
PRODUCTION FUNCTION
PRODUCTIVITY
PRODUCTIVITY GROWTH
PROPERTY RIGHTS
PUBLIC INFRASTRUCTURE
PUBLIC INVESTMENT
PUBLIC POLICIES
PUBLIC POLICY
PUBLIC PROGRAMS
PUBLIC SECTOR
QUERIES
R&D
RAPID GROWTH
RATE OF RETURN
RAW DATA
REAL INTEREST RATES
REFORM PROGRAM
RELATIVE CONTRIBUTION
RELIABILITY
RENTS
RESEARCH WORKERS
RESOURCE ALLOCATION
RESULT
RESULTS
RETAIL TRADE
RISK PREMIUM
SECURE PROPERTY RIGHTS
SIGNIFICANT IMPACT
SKILLED LABOR
SKILLED WORKERS
SOCIAL ISSUES
SOCIAL SERVICES
STATE OF KNOWLEDGE
TARGETS
TECHNICAL EFFICIENCY
TECHNICAL PROGRESS
TECHNOLOGICAL CHANGE
TECHNOLOGICAL PROGRESS
TELEPHONE
TFP
TOTAL FACTOR PRODUCTIVITY
TOTAL FACTOR PRODUCTIVITY GROWTH
TRADE UNIONS
TRAINING REQUIREMENTS
TRANSACTION
TRANSACTION COSTS
USES
VALUATION
VALUE CHAIN
WAGES
WORK FORCE
WORKER PRODUCTIVITY
spellingShingle ACTION PLAN
ACTION PLANS
AGGREGATE LEVEL
ANNUAL GROWTH
AVERAGE GROWTH
AVERAGE PRODUCTIVITY
AVERAGE PRODUCTIVITY LEVELS
BARGAINING
BENCHMARKING
BENCHMARKS
BEST PRACTICE
BEST PRACTICES
BEST-PRACTICE
BROADBAND
BUDGET ALLOCATIONS
BUSINESS CLIMATE
BUSINESS CYCLE
BUSINESS CYCLES
BUSINESS INDICATORS
BUSINESS LEADERS
BUSINESS OPPORTUNITIES
BUSINESS PLAN
BUSINESS SECTOR
BUSINESSES
CAPITAL ACCUMULATION
CAPITAL EXPENDITURE
CAPITAL FLOWS
CAPITAL FORMATION
CAPITAL INVESTMENT
CAPITAL MARKETS
CENTRAL BANK
COLLECTIVE BARGAINING
COMMODITY
COMPARATOR COUNTRIES
COMPETITIVENESS
COMPUTER TRAINING
COUNTRY CASE
COUNTRY REGRESSIONS
COUNTRY RISK
COUNTRY SPECIFIC
DEREGULATION
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
DEVELOPMENT AGENCY
DEVELOPMENT GOALS
DEVELOPMENT INDICATORS
DEVELOPMENT OF KNOWLEDGE
DEVELOPMENT POLICY
DEVELOPMENT PRACTITIONERS
DEVELOPMENT STRATEGY
DIGITAL DIVIDE
DISPLACEMENT
DIVERSIFICATION
DRIVERS
E-MAIL
EBUSINESS
ECONOMETRIC MODELING
ECONOMIC BENEFITS
ECONOMIC CONDITIONS
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC PERFORMANCE
ECONOMIC POLICY
ECONOMICS
EMPIRICAL WORK
EMPLOYMENT
EXPECTED VALUE
EXPORT DIVERSIFICATION
EXPORT GROWTH
EXPORTS
EXTERNALITIES
EXTERNALITY
FACTOR ACCUMULATION
FEMALE EMPLOYMENT
FEMALE LABOR
FEMALE LABOR FORCE
FINANCIAL CRISIS
FINANCIAL MARKETS
FINANCIAL SERVICES
FISCAL POLICIES
FISCAL POLICY
FLEXIBLE LABOR MARKETS
FOREIGN EXCHANGE
FREE TRADE
GDP
GDP PER CAPITA
GLOBAL COMPETITIVENESS
GLOBAL CONDITIONS
GLOBAL ECONOMY
GLOBALIZATION
GOVERNMENT POLICIES
GOVERNMENT SUBSIDY
GROSS OUTPUT
GROWTH PATH
GROWTH PERFORMANCE
GROWTH POLICIES
GROWTH POTENTIAL
GROWTH RATE
GROWTH RATES
GROWTH REGRESSION
GROWTH STRATEGIES
GROWTH STRATEGY
GROWTH SUCCESSES
HIGH GROWTH
HUMAN CAPITAL
HUMAN RESOURCE
HUMAN RESOURCE DEVELOPMENT
ICT
IMPROVING PRODUCTIVITY
INCOME
INCOME LEVELS
INDUSTRIALIZED COUNTRIES
INFORMATION INFRASTRUCTURE
INNOVATION
INNOVATION POLICIES
INNOVATIONS
INSTITUTION
INTANGIBLE ASSETS
INTERNATIONAL STANDARDS
INTERNATIONAL TRADE
INVESTMENT CLIMATE
JOB CREATION
KNOWLEDGE ECONOMY
KNOWLEDGE WORKERS
LABOR COSTS
LABOR DEMAND
LABOR FORCE
LABOR FORCE PARTICIPATION
LABOR MARKET
LABOR PRODUCTIVITY
LEGAL FRAMEWORK
LEVELS OF OUTPUT
LICENSES
LIVING STANDARDS
LOTTERY
MACRO STABILITY
MACROECONOMIC POLICIES
MACROECONOMIC STABILIZATION
MANPOWER
MANPOWER PLANNING
MANUFACTURING
MARGINAL PRODUCTS
MARKET ECONOMY
MARKET FAILURES
MARKET SHARE
MATHEMATICS
MEDIUM ENTERPRISES
NATURAL RESOURCES
NETWORKS
NEW TECHNOLOGIES
NEXT GENERATION
ORGANIZED LABOR
OUTSOURCING
PACE OF INNOVATION
PCS
PER CAPITA GROWTH
PER CAPITA INCOME
PHYSICAL DISTANCE
POLICY CHANGE
POLICY CHANGES
POLICY INTERVENTIONS
POLICY MAKERS
POLITICAL ECONOMY
POLITICAL PROCESS
POVERTY REDUCTION
PRIVATE INVESTMENT
PRIVATE PARTNERSHIPS
PRIVATE SECTOR
PRIVATE SECTOR DEVELOPMENT
PRIVATE SECTORS
PROCUREMENT
PRODUCTION FUNCTION
PRODUCTIVITY
PRODUCTIVITY GROWTH
PROPERTY RIGHTS
PUBLIC INFRASTRUCTURE
PUBLIC INVESTMENT
PUBLIC POLICIES
PUBLIC POLICY
PUBLIC PROGRAMS
PUBLIC SECTOR
QUERIES
R&D
RAPID GROWTH
RATE OF RETURN
RAW DATA
REAL INTEREST RATES
REFORM PROGRAM
RELATIVE CONTRIBUTION
RELIABILITY
RENTS
RESEARCH WORKERS
RESOURCE ALLOCATION
RESULT
RESULTS
RETAIL TRADE
RISK PREMIUM
SECURE PROPERTY RIGHTS
SIGNIFICANT IMPACT
SKILLED LABOR
SKILLED WORKERS
SOCIAL ISSUES
SOCIAL SERVICES
STATE OF KNOWLEDGE
TARGETS
TECHNICAL EFFICIENCY
TECHNICAL PROGRESS
TECHNOLOGICAL CHANGE
TECHNOLOGICAL PROGRESS
TELEPHONE
TFP
TOTAL FACTOR PRODUCTIVITY
TOTAL FACTOR PRODUCTIVITY GROWTH
TRADE UNIONS
TRAINING REQUIREMENTS
TRANSACTION
TRANSACTION COSTS
USES
VALUATION
VALUE CHAIN
WAGES
WORK FORCE
WORKER PRODUCTIVITY
Kharas, Homi
Leipziger, Danny
Maloney, William
Thillainathan, R.
Hesse, Heiko
Chilean Growth through East Asian Eyes
geographic_facet Latin America & Caribbean
Chile
relation Commission on Growth and Development Working Paper;No. 31
description Chile could well have space to increase its growth potential by 2 percentage points of Gross Domestic Product (GDP) per year. To do this, it would need to pay more attention to new sources of growth in natural resources, manufacturing, and services. In an increasingly globalized world, first-mover advantages have become more numerous and larger. Chile risks losing out, as a few recent high-profile cases suggest. Chile's total factor productivity growth can be raised by driving within-firm technological change closer to the global best-practice frontier more rapidly, especially in manufacturing. This would encourage the diversification of exports and boost Chile's supply response to global demand changes. Chile confronts obstacles in its processes of innovation, human capital accumulation, and investment. To overcome them, deep institutional changes are needed to develop a national innovation system, stronger and more equitable educational achievement, more flexible labor markets, and focused public investments that crowd in private business. Such an inclusive growth strategy is likely to yield better social outcomes than a strategy that attempts to confront social inequities head-on through more equitable access to public services without paying adequate attention to the demand for labor and generation of income. Chile could also try a new policy towards innovation, but it would need to be bolder in terms of the institutional design to maximize the chances of success.
format Working Paper
author Kharas, Homi
Leipziger, Danny
Maloney, William
Thillainathan, R.
Hesse, Heiko
author_facet Kharas, Homi
Leipziger, Danny
Maloney, William
Thillainathan, R.
Hesse, Heiko
author_sort Kharas, Homi
title Chilean Growth through East Asian Eyes
title_short Chilean Growth through East Asian Eyes
title_full Chilean Growth through East Asian Eyes
title_fullStr Chilean Growth through East Asian Eyes
title_full_unstemmed Chilean Growth through East Asian Eyes
title_sort chilean growth through east asian eyes
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/754381468326995501/Chilean-growth-through-East-Asian-eyes
http://hdl.handle.net/10986/28028
_version_ 1764465988834689024
spelling okr-10986-280282021-04-23T14:04:46Z Chilean Growth through East Asian Eyes Kharas, Homi Leipziger, Danny Maloney, William Thillainathan, R. Hesse, Heiko ACTION PLAN ACTION PLANS AGGREGATE LEVEL ANNUAL GROWTH AVERAGE GROWTH AVERAGE PRODUCTIVITY AVERAGE PRODUCTIVITY LEVELS BARGAINING BENCHMARKING BENCHMARKS BEST PRACTICE BEST PRACTICES BEST-PRACTICE BROADBAND BUDGET ALLOCATIONS BUSINESS CLIMATE BUSINESS CYCLE BUSINESS CYCLES BUSINESS INDICATORS BUSINESS LEADERS BUSINESS OPPORTUNITIES BUSINESS PLAN BUSINESS SECTOR BUSINESSES CAPITAL ACCUMULATION CAPITAL EXPENDITURE CAPITAL FLOWS CAPITAL FORMATION CAPITAL INVESTMENT CAPITAL MARKETS CENTRAL BANK COLLECTIVE BARGAINING COMMODITY COMPARATOR COUNTRIES COMPETITIVENESS COMPUTER TRAINING COUNTRY CASE COUNTRY REGRESSIONS COUNTRY RISK COUNTRY SPECIFIC DEREGULATION DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT AGENCY DEVELOPMENT GOALS DEVELOPMENT INDICATORS DEVELOPMENT OF KNOWLEDGE DEVELOPMENT POLICY DEVELOPMENT PRACTITIONERS DEVELOPMENT STRATEGY DIGITAL DIVIDE DISPLACEMENT DIVERSIFICATION DRIVERS E-MAIL EBUSINESS ECONOMETRIC MODELING ECONOMIC BENEFITS ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMICS EMPIRICAL WORK EMPLOYMENT EXPECTED VALUE EXPORT DIVERSIFICATION EXPORT GROWTH EXPORTS EXTERNALITIES EXTERNALITY FACTOR ACCUMULATION FEMALE EMPLOYMENT FEMALE LABOR FEMALE LABOR FORCE FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL SERVICES FISCAL POLICIES FISCAL POLICY FLEXIBLE LABOR MARKETS FOREIGN EXCHANGE FREE TRADE GDP GDP PER CAPITA GLOBAL COMPETITIVENESS GLOBAL CONDITIONS GLOBAL ECONOMY GLOBALIZATION GOVERNMENT POLICIES GOVERNMENT SUBSIDY GROSS OUTPUT GROWTH PATH GROWTH PERFORMANCE GROWTH POLICIES GROWTH POTENTIAL GROWTH RATE GROWTH RATES GROWTH REGRESSION GROWTH STRATEGIES GROWTH STRATEGY GROWTH SUCCESSES HIGH GROWTH HUMAN CAPITAL HUMAN RESOURCE HUMAN RESOURCE DEVELOPMENT ICT IMPROVING PRODUCTIVITY INCOME INCOME LEVELS INDUSTRIALIZED COUNTRIES INFORMATION INFRASTRUCTURE INNOVATION INNOVATION POLICIES INNOVATIONS INSTITUTION INTANGIBLE ASSETS INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTMENT CLIMATE JOB CREATION KNOWLEDGE ECONOMY KNOWLEDGE WORKERS LABOR COSTS LABOR DEMAND LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKET LABOR PRODUCTIVITY LEGAL FRAMEWORK LEVELS OF OUTPUT LICENSES LIVING STANDARDS LOTTERY MACRO STABILITY MACROECONOMIC POLICIES MACROECONOMIC STABILIZATION MANPOWER MANPOWER PLANNING MANUFACTURING MARGINAL PRODUCTS MARKET ECONOMY MARKET FAILURES MARKET SHARE MATHEMATICS MEDIUM ENTERPRISES NATURAL RESOURCES NETWORKS NEW TECHNOLOGIES NEXT GENERATION ORGANIZED LABOR OUTSOURCING PACE OF INNOVATION PCS PER CAPITA GROWTH PER CAPITA INCOME PHYSICAL DISTANCE POLICY CHANGE POLICY CHANGES POLICY INTERVENTIONS POLICY MAKERS POLITICAL ECONOMY POLITICAL PROCESS POVERTY REDUCTION PRIVATE INVESTMENT PRIVATE PARTNERSHIPS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRIVATE SECTORS PROCUREMENT PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC POLICY PUBLIC PROGRAMS PUBLIC SECTOR QUERIES R&D RAPID GROWTH RATE OF RETURN RAW DATA REAL INTEREST RATES REFORM PROGRAM RELATIVE CONTRIBUTION RELIABILITY RENTS RESEARCH WORKERS RESOURCE ALLOCATION RESULT RESULTS RETAIL TRADE RISK PREMIUM SECURE PROPERTY RIGHTS SIGNIFICANT IMPACT SKILLED LABOR SKILLED WORKERS SOCIAL ISSUES SOCIAL SERVICES STATE OF KNOWLEDGE TARGETS TECHNICAL EFFICIENCY TECHNICAL PROGRESS TECHNOLOGICAL CHANGE TECHNOLOGICAL PROGRESS TELEPHONE TFP TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH TRADE UNIONS TRAINING REQUIREMENTS TRANSACTION TRANSACTION COSTS USES VALUATION VALUE CHAIN WAGES WORK FORCE WORKER PRODUCTIVITY Chile could well have space to increase its growth potential by 2 percentage points of Gross Domestic Product (GDP) per year. To do this, it would need to pay more attention to new sources of growth in natural resources, manufacturing, and services. In an increasingly globalized world, first-mover advantages have become more numerous and larger. Chile risks losing out, as a few recent high-profile cases suggest. Chile's total factor productivity growth can be raised by driving within-firm technological change closer to the global best-practice frontier more rapidly, especially in manufacturing. This would encourage the diversification of exports and boost Chile's supply response to global demand changes. Chile confronts obstacles in its processes of innovation, human capital accumulation, and investment. To overcome them, deep institutional changes are needed to develop a national innovation system, stronger and more equitable educational achievement, more flexible labor markets, and focused public investments that crowd in private business. Such an inclusive growth strategy is likely to yield better social outcomes than a strategy that attempts to confront social inequities head-on through more equitable access to public services without paying adequate attention to the demand for labor and generation of income. Chile could also try a new policy towards innovation, but it would need to be bolder in terms of the institutional design to maximize the chances of success. 2017-08-28T19:44:10Z 2017-08-28T19:44:10Z 2008 Working Paper http://documents.worldbank.org/curated/en/754381468326995501/Chilean-growth-through-East-Asian-eyes http://hdl.handle.net/10986/28028 English en_US Commission on Growth and Development Working Paper;No. 31 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research Latin America & Caribbean Chile