Instead of resorting to trade measures such as export restrictions, Chile manages its minerals sector through a combination of balanced taxation, stable investment measures, good management of tax revenue, exchange rate policy and initiatives aimed at producing a multiplier effect of economy-wide development, according to this study.
The paper explores the Chilean experience in regulating its mining sector and how it can be used as a model for other mineral rich economies.
English, PDF, 922kb
Chile has developed rapidly in the past two decades – it has become a strong economy, and a member of the OECD. Despite the global recession, the devastating earthquake and the tsunami, Chile is still one of the most successful economies in Latin America. The total GDP, as well as the GDP per capita, have been increasing; while income inequality and the percentage of poverty among the population have decreased.
Chile's OECD membership presents challenges both in the context of changing patterns of production and consumption, and in the framework of a more sustainable economy. Specifically, green growth emphasizes improving growth rates, particularly through greening existing industries, as well as through new eco-businesses.
En países latinoamericanos, la población crece a un ritmo mayor que el promedio mundial, lo cual intensifica el uso de la tierra y aumenta la urbanización. La región también es propensa a los impactos negativos del cambio climático y de los desastres naturales.
Tax revenues in Latin American countries are lower as a proportion of their national incomes than in most OECD countries, but are rising slowly. Revenue Statistics in Latin America shows that the average tax revenue to GDP ratio in the 15 Latin American countries covered by the report increased from 19% in 2009 to 19.4% in 2010, after falling from a high point of 19.7% in 2008.
English, Excel, 53kb
Education at a Glance 2012: Key facts - Chile
OECD signed agreement for a peer review with the Comptroller General of Chile
The objective of senior budget official country reviews is to provide a comprehensive overview of the budget process in the country under examination, to evaluate national experiences in the light of international best practice and to provide specific policy recommendations.