- Chile leads the way in Latin America when it comes to attractive business environment. Here represented by capital Santiago (top) and the booming mining sector (bottom). (Photos: Embassy of Chile, USA and Scania)
A political consensus on free-market policies sets Chile apart and has secured its success in Latin America.
BY CHRONICLE STAFF At a time when Latin America is suffering from a new wave of nationalist-populist governments, Chile stands as a solid contrast. The country tops the Latin Business Index for the second year in a row. That comes on top of top scores in Latin America in nearly every international ranking – ranging from competitiveness and economic freedom to security and human development. So is Chile a role model for Latin America?
“It is indeed a role model,” says Jerry Haar, a professor of management and international business and associate director of the Knight Ridder Center for Excellence in Management in the College of Business Administration at Florida International University. “It bit the bullet and instituted the broad, sweeping macroeconomic reforms necessary to move the country away from a nanny-state model of development to one of market-oriented reform and smaller government…Chile is also a model for the other countries that seek–in fact demand–progressive social policies (housing, labor, education) not be sacrificed at the expense of the free market model.”
Gabriel Zinny, a senior fellow at the Atlas Economic Research Foundation, agrees. Chile has become a role model thanks to the bi-partisan long-term policies regarding institution building, macroeconomics and …
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