Economic Reforms in Chile

From Dictatorship to Democracy
Ricardo Ffrench-Davis
An analysis of the neoliberal reform in Chile during the last thirty years


Articulate and provocative, Richardo Ffrench-Davis offers the most comprehensive and timely assessment available of Chilean economic reform, from the military dictatorship of Pinochet in the 1970s up to the "reforms of reforms" made by the democratic governments in the 1990s.

Written in accessible and readable prose, Economic Reforms in Chile begins with an overview of the Chilean economy during the last fifty years. This historical time frame is divided into three periods of economic reform. The first period covers the Pinochet regime, during which the more orthodox neoliberalism was implemented. The second period includes the Pinochet dictatorship, during which economic policy shifted toward pragmatism, particularly in the areas of trade and finance; it also includes the crisis of 1982 and its effects. The third period begins in 1990 with the return to democratic elections and the significant reforms to prior reforms. This section also examines the search for growth-with-equity, success in investment and growth performance, macroeconomic sustainability, and the reduction of poverty. Ffrench-Davis addresses several "paradoxes," or results that defy the expectations of policymakers, in order to analyze the significance of comprehensive macroeconomic equilibrium and its implications for sustainable stability, growth, and equity.

Economic Reforms in Chile will be of interest to economists, political scientists, and policymakers involved with the economies of emerging and developing countries.

Ricardo Ffrench-Davis is Principal Regional Advisor, ECLAC, Santiago, and Professor of Economics, University of Chile.

Praise / Awards

  • "The Chilean economy has gone through more than its fair share of ups and downs during the last three decades. Few countries have been held up with greater frequency as an example for others to emulate—and occasionally to avoid. In this informative and non-ideological book, Ricardo Ffrench-Davis presents a highly readable account of Chile's experience. Anyone interested in development and globalization will benefit from reading his book."
    —Dani Rodrik, Harvard University
  • "I highly recommend this book. It is certain to have widespread appeal as an in-depth critical analysis of the economic policies that have shaped the 'Chilean miracle.' While there are other English-language books on the Chilean economy that address some of the periods and topics covered here, Ffrench-Davis's book provides a comprehensive assessment and a unique perspective that is articulate and provocative. This will be a widely read and cited work, required reading for advanced undergraduate and graduate courses in Latin American economics as well as a necessary addition to university and personal libraries."
    —Nola Reinhardt, Smith College
  • ". . . valuable because it challenges widely held myths and explores new puzzles yet to be analyzed by students of economic reform in Chile. It does so while underscoring the consequences of economic policy for the lives of everyday Chileans and handily incorporating the political variables that affect the application and success of reforms. . . . [A]n important starting point for understanding economic reform in Chile, and it will become a standard in graduate and undergraduate syllabi."
    —Peter Siavelis, Wake Forest University, Latin American Politics and Society, 2003

Look Inside

Copyright © 2002, University of Michigan 2002. All rights reserved.

Product Details

  • 6 x 9.
  • 272pp.
  • 7 drawings, 38 tables.
Available for sale worldwide

  • Hardcover
  • 2002
  • Available
  • 978-0-472-11232-6

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  • $89.95 U.S.