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IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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OECD

 

Economic Survey of Chile 2010 [27 January 2010]
www.oecd.org/eco/surveys/Chile

 

POLICY BRIEF

http://www.oecd.org/dataoecd/24/3/44464700.pdf

[full-text, 12 pages]

 

Press Release 27 January 2010

Securing growth and tackling inequality remain key challenge as Chile emerges from recession

http://www.oecd.org/document/38/0,3343,en_2649_34569_44483942_1_1_1_37443,00.html

 

27/01/2010 - Chile, now on the path to becoming the OECD’s newest member, is emerging from recession relatively fast on the back of  government stimulus measures and a rebound in copper export prices, says a new OECD report.

 

But more effective competition, innovation and education policies will be needed for Chile to converge faster to OECD living standards and to reduce  poverty and income inequality, which remain high despite recent improvements.  The OECD’s latest Economic Survey of Chile says economic activity, after falling 1.8 % in 2009,  is expected to grow by around 4.1% this year and 5.0% in 2011.

 

“Chile has managed the crisis better than other small open economies ,” said OECD Secretary-General Angel Gurría. “Thanks to sound fiscal policies and good monetary policy management during the boom years, there was room for decisive stimulus measures which are now proving their worth.”

 

Because Chile has low debt and relatively healthy finances, it can afford to keep some of the fiscal stimulus measures in place this year to provide further support for domestic demand, the report says. If the recovery gains pace as expected, the stimulus could be further withdrawn in 2011.  But if the pick up in world trade runs out of steam and growth falters, the stimulus measures should be maintained for longer.

 

AND MUCH MORE…..

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       
E-mail: smb6@cornell.edu                  
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