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Chile

The Mysterious Case of Chilean Service Exports

Sebastián Sáez's picture

También disponible en español

Chile has long been known as a superstar in liberalization reforms and innovative export-led growth strategies. The country successfully exports tourism and transportation services.

But these successes are, in some ways, yesterday’s news. The country’s performance in more modern service exports – internet and communications technology, business process outsourcing and others – has been less remarkable. Chile is no India.

The Mysterious Case of Chilean Service Exports

Sebastián Sáez's picture

Chile has long been known as a superstar in liberalization reforms and innovative export-led growth strategies. The country successfully exports tourism and transportation services. But these successes are, in some ways, yesterday’s news. The country’s performance in more modern service exports – internet and communications technology, business process outsourcing and others – has been less remarkable. Chile is no India.

What does this mean for a country that has famously followed sound economic policies? Is the government doing something wrong? Is the country stuck? A look at the way services data is interpreted may provide a different answer. Perhaps Chile’s reputation is simply a victim of statistical inaccuracies.

Prospects Daily: European stocks slipped on Friday with the benchmark index falling to a three-week low

Global Macroeconomics Team's picture

Financial Markets…European stocks slipped on Friday with the benchmark index falling to a three-week low as early optimism on Spain’s new austerity measures was short-lived.

Spanish 10-year bond yield rose back above 6% amid uncertainty over its troubled banks before stress test results, fading optimism on the country’s debt cutting plan, and a looming Moody’s rating review which may cost the country its investment grade rating. 

What Latin America Might Advise Europe

Claudia Sepúlveda's picture

The latest surge in eurozone fiscal tensions took place this week with the protests in Athens and Madrid bringing home the difficulties faced by the region's elected representatives as they struggle to reduce fiscal deficits. For the young generation of Europeans, this crisis will mark them for life, just as the Latin American debt crisis of 1982 marked my generation. That is why when I watch the images of these violent protests on TV, I become overwhelmed by a sense of déjà vu. 

Like a Hummingbird – From Chile to Mongolia

Otaviano Canuto's picture

MiningIncreased cross-learning and cooperation among developing countries has been a remarkable feature of the global economy in recent decades.  It's been some time now since knowledge and technology flowed only from advanced economies ("North") to developing ones ("South").

No more blackouts? India’s states show the way

Ashish Khanna's picture

Satellite photo of India by nightIntroduction by Kalpana Kochhar, chief economist of the South Asia Region

This summer, I wrote about keeping India’s promise alive and realizing its great potential. As I said then, energy reforms are crucial if the country is to boost growth. In the wake of the world’s largest blackout, which left 600 million people in India without power, two World Bank colleagues have written an op-ed about examples India can turn to, at home and abroad, as it seeks to tackle seemingly insurmountable power issues. Ashish Khanna is a senior energy specialist in the Bank’s New Delhi office, and Jyoti Shukla is energy sector manager for the South Asia region. Here are excerpts from their article, which appeared in the Hindustan Times:

Is the school day too short in Latin America?

Peter Holland's picture

Also available in Español, Portuguese

Do longer classroom hours equal good grades? Spending more time in school is a subject currently being discussed as one solution to improving students' academic performance with the ultimate goal of making countries more competitive in the global economy.

This is true for emerging and advanced economies alike.

Certifying Skills in Chile

Hernan Araneda's picture

For workers trying to get better jobs, skill certification systems offer a way to upgrade their skills to meet what the labor market is demanding and then get those skills recognized formally. That is why from 1999-2009, Chile undertook a series of pilot projects to develop a national certification system. We recently spoke with Hernán Araneda, head of the Center for Innovation in Human Capital in Fundación Chile, about pilot projects to develop a national certification system that he designed, oversaw, and scaled up.

Rising food prices: time to put your money where your mouth is?

Marie Chantal Messier's picture

Also available in Portuguese, Español

There is no arguing that high food prices are taking a heavy toll on Latin America’s families, business and governments, fueling ripple effects on people’s budgets and the economy as a whole.

But behind the cold hard numbers of price increases, shrinking budgets and inflationary fears, the simple truth is high food prices can kill –or severely impair- people, especially kids from underprivileged environments.


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