Productivity growth has been declining in the mining and non-mining sectors over the last ten years. Measures to boost productivity were introduced in 2016 to improve access to financing, increase exports of services, introduce systematic regulatory impact analyses and simplify regulatory procedures. A welcome competition bill also strengthened market studies, increased sanctions for cartels, and reformed the merger control regime. Implementation of such initiatives can raise entrepreneurship and investment and ensure that more Chileans can benefit from higher incomes.
- Fully roll out measures of the Productivity Agenda.
- Improve stakeholder input into the rule-making process and expand systematic ex-ante and ex-post analyses of regulations.
- Further reduce the complexity of administrative procedures for business and simplify sector-specific regulations.
- Reduce duality in the labour market between protected indefinite contracts and precarious fixed-term contracts.
Source: OECD May 2017 Economic Outlook database
Olaberría, Eduardo (2016), Chile: Better skills for inclusive growth, OECD Economics Department Working Paper, No. 1290.
Corfo-Universidad Adolfo Ibañez (2016), “Boletín Semestral No9 Evolución de la Productividad Total de Factores en Chile”.
Productivity - enhancing institutions
Chilean Productivity Commission (CNP) (since 2015)