Eyes turn toward Peru, Colombia and Argentina
After being celebrated as the most successful case of democratic consolidation and economic development in Latin America since 1990, Chile has now lost its appeal. As other countries make significant progress in implementing market-friendly reforms and democratic consolidation, Chile is no longer the brightest star in the region, it seems.
Ever since its transition to democracy in 1990, Chile was the poster child of market-friendly policies in Latin America. Four successive centre-left governments led the country through an astonishing 20-year period of economic growth, poverty reduction and democratic consolidation. Since the Concertación governments had to build a democratic system under the straitjacket of the authoritarian 1980 Constitution, pragmatism and consensus-building were the key ingredients in a policy-making environment that fostered long-term commitments and gradual change.
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