Macroeconomic shocks and policy reforms: lessons from the 1999 downturn in Chile

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cepal.articleNo7
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2018/6-P
cepal.docTypeRevistas
cepal.jelCodeH53
cepal.jelCodeJ21
cepal.jelCodeJ48
cepal.jobNumberRVI125_Guzman
cepal.physicalDescriptiongráficos., tablas.
cepal.regionalOfficeSantiago
cepal.sdg17
cepal.topicEngECONOMIC GROWTH
cepal.topicEngECONOMIC STATISTICS
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngFINANCING AND EXTERNAL DEBT
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngMACROECONOMICS
cepal.topicEngPUBLIC INCOME AND EXPENDITURE
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaCRECIMIENTO ECONÓMICO
cepal.topicSpaESTADÍSTICAS ECONÓMICAS
cepal.topicSpaFINANCIAMIENTO Y DEUDA EXTERNA
cepal.topicSpaINGRESOS Y GASTOS PÚBLICOS
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorGuzmán, Julio
dc.coverage.spatialEngCHILE
dc.coverage.spatialSpaCHILE
dc.date.accessioned2018-12-18T20:24:45Z
dc.date.available2018-12-18T20:24:45Z
dc.date.issued2018-08-18
dc.description.abstractThis article analyses the Chilean government’s response to the 1999 recession that followed on from the Asian financial crisis, focusing on the macroeconomic policy reforms adopted and the institutional factors that influenced this response. The analysis is based on a review of previous research on the topic and suggests that some fiscal and monetary policies adopted during 1997−1998 exacerbated the effects of what were initially external shocks. However, fiscal discipline and the robust public institutions developed before and after the recession strengthened Chilean social protection policies. Specifically, public debt reduction in the 1990s, the Copper Revenue Stabilization Fund (FEC) set up in 1985, the structural surplus fiscal rule introduced in 2000 and the new monetary, exchange-rate and fiscal policy mix of that decade reduced the vulnerability of Chile to new shocks.
dc.formatTexto
dc.format.extentpáginas. 134-15
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2018/6-P
dc.identifier.urihttps://hdl.handle.net/11362/44322
dc.language.isoeng
dc.physicalDescriptionp. 134-151: gráfs., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo125
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordChoques macroeconómicos y reformas de las políticas: lecciones extraídas de la desaceleración económica de 1999 en Chile
dc.relation.translationUrihttps://hdl.handle.net/11362/43995
dc.rights.coarDisponible
dc.subject.unbisEngECONOMIC CONDITIONS
dc.subject.unbisEngECONOMIC RECESSION
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngECONOMIC POLICY
dc.subject.unbisEngPUBLIC EXPENDITURES
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngECONOMIC INDICATORS
dc.subject.unbisSpaCONDICIONES ECONOMICAS
dc.subject.unbisSpaRECESION ECONOMICA
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaPOLITICA ECONOMICA
dc.subject.unbisSpaGASTOS PUBLICOS
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaINDICADORES ECONOMICOS
dc.titleMacroeconomic shocks and policy reforms: lessons from the 1999 downturn in Chile
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublication81af9949-168f-4e31-b56f-89da86278da9
relation.isAuthorOfPublication.latestForDiscovery81af9949-168f-4e31-b56f-89da86278da9
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