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9 Bus. Info. Alert 1 (1997)

handle is hein.journals/busiale9 and id is 1 raw text is: Doing Business in Chile: Information Sources by Yolanda Maloney Chile's history of democratic rule was broken in 1973 when the popularly elected Marxist presi- dent Salvador Allende was ousted by a military junta headed by General Augusto Pinochet. The socially oppressive but economically progressive junta remained in power for 17 years. Chilean politics today are marked by a broad consensus about maintaining the democratic political system and a free market economy. As one of Latin America's most dynamic markets, Chile has become an economic model for Third World nations. In 1990, the country emerged from a long social, economic, and political adjustment; and as a result, it is now more in line with Asian econo- mies than with its sister nations in Latin America. Economy Chile was a one-product (copper) producer, which meant that its economy was absolutely dependent on the price fluctuation of this one commodity in international markets. Export diversification took place, and Chile now exports many other products-with fish, fruit, flowers, lumber, and wine comprising 34 percent of exports. As a consequence of its aggressively capitalist policies, Chile has a stable economy, a booming export sector, and vigorous growth. With booming production capacity and diversification, Chile's export market has been extended to other Latin American countries, Asia, the European Union, and the U.S. This vigorous growth has led to more and better jobs, reduced unemployment (5.5 percent in 1995), and increased real wages. It also has led to declining inflation (7.4 percent in 1995) and a surge in foreign investments. Financial Infrastructure Chile has the most uncomplicated and transparent reg- ulatory system for international trade and business transac- tions in the Latin American region. It also has strong banking institutions at the national and international lev- els. The World Bank and the Interamerican Development Bank together with the Overseas Private Investment Corporation (OPIC) and the Export-Import Bank of the United States (EXIM) provide credit for financial transac- tions. Credit has been aided lately by a Standard & Poor's continued on page 3 Itom TnS ssue Book Briefs................. 12 Review Finder ..............16 Vendors..................16 Doing Business in Chile: Information Sources ............ 1 From the Editor ..............2 News & Trends................A New Sources.................6

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