Talk:Economy of Chile

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[edit] Please explain UTM

Can someone please explain the concept of "UTM" (Unidad Tributaria Mensual) in the article? Something I read explained it as "a currency unit, expressed in Chilean pesos, adjusted monthly in line with CPI". But I don't know if it is adjusted up or down, why it is adjusted or its use.

I don't read Spanish, so can not research it myself. Andrew8 13:33, 23 October 2007 (UTC)

[edit] NAFTA; debt level

If Chile already has free trade agreements with the US, Canada and Mexico, why doesn't it belong to the NAFTA, as it was the original proposal almost 10 years ago?

Also, the phrase: The combined public and private foreign debt was roughly 50% of GDP at the end of 2000, low by Latin American standards. seems incorrect. It might be low compared to Argentina and Brazil, but not to Mexico and Costa Rica.

[edit] FTA

Chile tried to sign the Nafta in 97 but US Congress was against during the last 90's Having seen that, Chile began to sign trade agreements with(Mex and Canada) And only when the 'fast track'(a tool to sign FTA's quickly by US) was approved in 2002 (expires in 2007) Chile could sign a bilateral FTA with the US. Due to that, Chile has free trade with NAFTA but is not a member.

The debt in 2005 is 39%/GDP (private 80% + public 20%) debt svce: 12%

The public debt of Chile is currently slightly above 9 billion of dollars, if you compare this with the current GDP of 115 Billion dollars (2005), its not even 10%.

[edit] Economy in the Pinochet (post 1973 - late 1980s) era missing

The article doesn't talk about the period 1973-late 80s (called "Miracle of Chile"). It should either mention that in the body or incorporate elements into the main article. Perhaps one paragraph together with a "see main article" would be appropriate. Or merging the two articles. Kingsindian (talk) 07:22, 7 December 2007 (UTC)

[edit] MERGE with "Miracle"?

I'm proposing that the Miracle of Chile article merge into Economy of Chile. You can see my comments on that talk page, and comment here or there.--Dylanfly 21:34, 30 August 2007 (UTC)

See Talk:Miracle of Chile#MERGE with Economy of Chile. Tazmaniacs 14:03, 24 September 2007 (UTC)
  • I disagee. I think they should be kept separate. "Miracle of Chile" is more philosphical and academic, with an economist's viewpoint. This article discusses the more practical aspects of the economy. They have different audiences. Combining them will diminsh both. Andrew8 13:34, 23 October 2007 (UTC)
  • Keep seperate. As others have mentioned, this is a historical event with a LOT of academic debate associated with it. It deserves to remain as a seperate subject in Wikipedia, not a part of a discussion of the current economy of Chile. This should remain a seperate page. Dissembly (talk) 05:49, 14 January 2008 (UTC)
  • Keep separate. "Miracle of Chile" is notable event and also it is too big to be merged. --Doopdoop (talk) 22:31, 14 January 2008 (UTC)
  • I disagee. Keep separate. "Miracle of Chile" is notable in itself and deserves to be kept separate. --Mel Romero (talk) 01:20, 15 January 2008 (UTC)
  • Keep separate. "Miracle of Chile" is a specific phenomena arising from the Chicago economic school's influence. —Preceding unsigned comment added by 198.103.221.52 (talk) 20:55, 24 January 2008 (UTC)
  • Keep separate. "Miracle of Chile" could do with a less POV title, but it is certainly an article on an historical period of significant importance above and beyond its immediate Chilean consequences. Man The Wise (talk) 08:31, 21 April 2008 (UTC)

[edit] Gini

The article list a number calling it the Gini Coefficient, but I think it should really read "Gini index." The coefficient has a value between 0 and 1, multiplying by 100 gives the index. —Preceding unsigned comment added by 12.206.222.20 (talk) 16:11, 6 December 2007 (UTC)

[edit] Plagiarism?

I don't want to sound alarmist or anything, but has anyone else noticed the resounding similarities between this article and the CIA World Factbook's entry on Chile's economy? Quoted from https://www.cia.gov/library/publications/the-world-factbook/geos/ci.html:

"Chile has a market-oriented economy characterized by a high level of foreign trade. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Growth in real GDP averaged 8% during 1991-97, but fell to half that level in 1998 because of tight monetary policies implemented to keep the current account deficit in check and because of lower export earnings - the latter a product of the global financial crisis. A severe drought exacerbated the recession in 1999, reducing crop yields and causing hydroelectric shortfalls and electricity rationing, and Chile experienced negative economic growth for the first time in more than 15 years. Despite the effects of the recession, Chile maintained its reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Between 2000 and 2007 growth ranged between 2%-6%. Throughout these years Chile maintained a low rate of inflation with GDP growth coming from high copper prices, solid export earnings (particularly forestry, fishing, and mining), and growing domestic consumption. President BACHELET in 2006 established an Economic and Social Stabilization Fund to hold excess copper revenues so that social spending can be maintained during periods of copper shortfalls. This fund will surpass $20 billion by the end of 2007. Chile continues to attract foreign direct investment, but most foreign investment goes into gas, water, electricity and mining. Unemployment has exhibited a downward trend over the past two years, dropping to 7.8% and 6.7% at the end of 2006 and 2007, respectively. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade agreements than any other country. It has 57 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, China, India, South Korea, and Mexico."


Quoted from 2 March 2008 reading of a Wikipedia entry on the Economy of Chile at http://en.wikipedia.org/wiki/Economy_of_chile:

"Chile has a dynamic market-oriented economy characterized by a high level of foreign trade. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio Aylwin - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Growth in real GDP averaged 8% during the period 1991-1997, but fell to half that level in 1998 because of tight monetary policies implemented to keep the current account deficit in check and because of lower export earnings - the latter a product of the global financial crisis. Chile's economy has since recovered and has seen growth rates of 5-7% over the past several years. In 2006, Chile became the country with the highest nominal GDP per capita in Latin America [1]. Even though the exceptional Chilean economic results, when measured exclusively by the GNP indicators (a gauge that does not adequately depict the social depth of economic wellbeing) the Chilean economy income distribution has been extremely poor. Chile ranks 80th among the coutries on the list of income distribution, being the fourth in Latin America (behind Brazil, Paraguay and Colombia) and ranking, on that important indicator, behind much poorer African coutries such as Zambia, Nigeria and Malawi."

Especially among the opening lines, there are very similar sentences. You make the call. Deeper thoughts (talk) 04:15, 3 March 2008 (UTC)


The CIA World Factbook is a public domain, so there isn't a violation of copyright. CenterofGravity (talk) 17:25, 21 April 2008 (UTC)