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Education is the core of the factors that improved people for a better lifestyle and increases the level of society' development. Quality education is one of the most vital goals of Sustainable Development Goals (SDGs) due to actualizing these factors. Using relational network data envelopment analysis (DEA), which have three interrelated substages, this current paper computes the educational economy efficiency of the Organisation for Economic Co-operation and Development (OECD) countries bearing in mind the characteristics related to SDGs. The contribution of our study is the use of a novel approach to computing the educational economy efficiency using relational network DEA with GAMS. Even though some interesting differences reveal in the efficiency of the countries, the findings show that countries with high-efficiency scores are clustered around countries like Latvia, Slovenia, and Korea.

Over the last two decades, education privatization has become a widespread phenomenon, affecting most education systems and giving place to a consistent increase in private school enrolment globally. However, far from being a monolithic phenomenon, privatization advances through a variety of context-sensitive policy processes that translate into multiple policy outcomes. This paper aims at understanding why and how education privatization unfolds in a broad variety of settings and, to this purpose, examines the different manifestations of education privatization on the light of Cultural Political Economy (CPE). The conceptual and analytical tools provided by CPE prove to be particularly well suited to explore such a multi-faceted and multi-scalar phenomenon. CPE has helped us to capture the intersect and tension between different drivers (global and local, material and ideational) of education privatization through the evolutionary mechanisms of variation, selection and retention. On the basis of a systematic literature review methodology, encompassing 227 research papers, the article identifies and systematizes six different paths towards education privatization--understood as groups of frequently associated circumstances, mechanisms and courses of action leading to privatization. Conceived as ideal types, these different paths ultimately allow for a richer understanding of education privatization and show that the international diffusion of education privatization norms and discourses is far from producing policy convergence at a global scale.

The topic of biodiversity is of high value for education for sustainable development as it reflects the interaction of ecological, economic and social issues particularly well. Especially in so-called biodiversity hotspots, among them Chile, natural resources are often depleted for economic interest which, in many cases, is required income. Therefore, economic and social aspects must be considered in order to fully understand biodiversity loss. Being such an important issue, it is surprising that little is known thus far about learning prerequisites concerning biodiversity. This paper presents a qualitative interview study that investigated 16 to 18-year-old Chilean and German learners' perception of biodiversity and its loss (n = 24). Firstly, the pupils' cognitive frameworks were analysed. Secondly, subjective theories about biodiversity loss due to resource dilemmas were explored. Three subjective theories that emerged from the data reflected the notion that most pupils focused on either ecological or economic aspects of biodiversity loss. Pupils who concentrated on ecological aspects often referred to incorrect ecological facts. Moreover, these pupils showed difficulties in developing empathy and solidarity with impoverished people, who depend economically on plants in a resource dilemma. A smaller group of pupils succeeded in integrating the ecological, economic, and social aspects. Regarding the two samples, Chilean pupils seemed to have greater difficulties in recognising the social aspects of biodiversity loss, while German pupils were largely unaware of biodiversity loss on a local level. Implications for biodiversity education and future research will be outlined and discussed.

This paper estimates the impact of private education on the academic achievement of low-income students in Chile. To deal with selection bias, we use propensity score matching to compare the test scores of reduced-fee paying, low-income students in fee-charging private voucher schools to those of similar students in public schools and free private voucher schools. Our results reveal that students in fee-charging private voucher schools score slightly higher than students in public schools. The difference in standardized test scores is approximately 10 points, a test score gain of 0.2 standard deviations. We find no difference in the academic achievement of students in the fee-charging private voucher treatment group relative to their counterparts in free private voucher schools. (Contains 6 tables.)

In this paper, we develop a daily-frequency measure of economic and policy uncertainty for Chile, employing information obtained from Twitter accounts using web scraping techniques and following closely the methodology proposed by Baker et al. (2016). Our proposed measure, called DEPUC, aims to capture the level of general disagreement -a proxy for economic and policy uncertainty-in topics such as the economy, economic policies, uncertainty about particular events, and Chile's conjuncture situation. The index, available from 2012 onwards, shows significant hikes that coincide with several local and international episodes that provoked extraordinary levels of uncertainty in Chile, especially after the events around the civil protests in mid-October 2019 and the start of the COVID-19 pandemic in mid-March 2020. An empirical exercise reveals that the proposed measure is a significant determinant of the nominal exchange rate dynamics, especially when this variable's magnitude is high and a week after the shock occurs. On the contrary, when the exchange rate is low, the impact of uncertainty on this variable is quantitatively smaller for any forecasting horizon. These features, and others discussed in the paper, highlight the usefulness of the proposed metric as an additional indicator that policymakers can incorporate into their monitoring toolkit. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Sociologia e Política is the property of Revista de Sociologia e Politica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper analyzes the first macroeconomic textbook based on modern monetary theory (MMT) written by Mitchell, Watts and Wray. MMT is a heterodox theory that a government need not worry about budget and monetary constraints and excessive inflation until a country achieves its goals of full employment, first-class healthcare for all citizens, and other desirable policies. Their textbook, Macroeconomics, leaves out major sections that are standard in macroeconomic textbooks, such as AS-AD analysis and economic growth theory. I argue that MMT is a dangerous theory that can lead to a bloated government, runaway inflation, and slow growth. Furthermore, MMT is unnecessary given that many advanced economies have moved in the opposite direction and achieved full-employment growth without adopting MMT, such as Sweden, Canada, Singapore, and Chile. [ABSTRACT FROM AUTHOR]

Although gentrification is an accepted process nowadays around the globe, little debate is found in the Latin American context—particularly, when considering that 70 per cent of this continent is urbanised and that major physical and socioeconomic changes have been observed in its historical neighbourhoods in the past 20 years. This paper focuses on the continuity and change that Santiago, Chile, has shown in recent decades. Empirical data are provided to reflect both the physical and socioeconomic patterns of change that have modified the urban morphology and the social capital of Santiago’s inner city. Furthermore, by selecting Bellavista—one of the oldest inner-city neighbourhoods of Santiago—this paper draws conclusions about how specific urban regeneration strategies can promote gentrification and then links them with wider patterns of ‘Latino gentrification’. [ABSTRACT FROM PUBLISHER]

The objective of this paper is to propose a lot-sizing methodology for an inventory system that faces time-dependent random demands and that seeks to minimize total cost as a function of order, purchase, holding and shortage costs. A two-stage stochastic programming framework is derived to optimize lot-sizing decisions over a time horizon. To this end, we simulate a demand time-series by using a generalized autoregressive moving average structure. The modeling includes covariates of the demand, which are used as predictors of this. We describe an algorithm that summarizes the methodology and we discuss its computational framework. A case study with unpublished real-world data is presented to illustrate the potential of this methodology. We report that the accuracy of the demand variance estimator improves when a temporal structure is considered, instead of assuming time-independent demand. The methodology is useful in decisions related to inventory logistics management when the demand shows patterns of temporal dependence. [ABSTRACT FROM AUTHOR]

The aim of this paper is to evaluate the impact that the anti-crime program Comuna Segura: Compromiso 100 had on the reporting rate of different types of crimes. This program, implemented in Chile starting in 2001, was very highly criticized and, therefore, was eliminated in 2006. This paper provides statistical evidence, using the impact assessment methodology, which shows that the program was successful in increasing the reporting rate in targeted municipalities and also in decreasing levels of crimes associated with other crimes, such as rape. All this underlies the importance of carrying out formal impact assessments in order to determine benefits that are associated with a particular program. However, financial issues are also very important too and it is necessary to take them in account when making a fair statement about the cost-effectiveness of the program. This point is, however, not addressed in this paper but should be kept in mind in order to have a complete picture of the program. [ABSTRACT FROM AUTHOR]

This paper explores in-depth interviews on aspects of middle class identity in a neoliberal age, taking the case of Chile's rapid and stark transition to a neoliberal economic model which was imposed by a dictatorship but later reproduced during democracy. 1 The paper reveals that there are no challenges to middle class identities (eg from the working class, or peasants). In this respect, these are neo-liberal middle class identities in that their way of thinking is preconditioned by market dominance. Informed by Bourdieu's views on class identities, this article emphasises the horizontal, non-hierarchical nature of contemporary class taste, and contributes to debates on stratification and culture, settling accounts with older class theory which perceives contests between the popular and middle classes. Notwithstanding this, however, I argue that processes of horizontal differentiation do involve tensions between cultural and moral boundaries. This article therefore also offers an alternative approach for exploring how middle class identities experience processes of individualization. It is argued that individualization processes should be placed in social and ethical registers as they could be in tension with various ways of understanding authenticity: being true to oneself or to one's origins. [ABSTRACT FROM AUTHOR]

This paper examines the evolution of the dairy complexes of New Zealand and Chile in the context of increasing bilateral interaction between the two countries, and their recent signing of a ‘Trans-Pacific Strategic Economic Partnership’ (TPSEP) free-trade agreement. The two economies can be said to occupy semi-peripheral positions in global markets and have, through the twentieth and into the twenty-first century, increasingly competed for market share in a range of primary product (particularly agricultural)-based export markets. Similar sets of historical processes, although variably timed, have shaped the roles of New Zealand and Chile respectively as resource peripheries, and the extent to which the two countries can collaborate for mutual benefit and transcend these roles is uncertain. In taking a sectoral approach this paper questions the compatibility of the two dairy complexes in the context of the TPSEP, and recommends further sectoral and localised studies in order to better appraise the model of ‘co-opetition’ promoted through the agreement. [ABSTRACT FROM AUTHOR]

This paper compares new forms of political economy based on export orientation in New Zealand and Chile and relates them to the evolution of the wine industries in those countries. The wine sector is seen as a key example of an export-driven agro-industry in both countries. The paper applies the new political economy to a comparative analysis of land, production and exports in the wine sectors of both Chile and New Zealand. The nature of firms in the wine sector in both countries is examined and some broad implications for development at the local scale introduced. [ABSTRACT FROM AUTHOR]

Widespread agreement exists on the broad outlines of the concept of sustainable development for developing countries. This calls for a development model capable of meeting basic needs without depleting natural resources at a rate that robs future generations of their use. In this regard, citizen participation is also considered key to legitimise such policy choices. However, there is considerable disagreement over the substance and meaning of the major components of the concept and the relationship between them. This paper argues that positions in policy disputes over the sustainable development of the forest cluster in two distinct approaches: market-friendly initiatives and grassroots development. Since market economies prevail almost everywhere, the question that is posed concerns the conditions under which the grassroots development approach is included as a significant complement to market-friendly initiatives. This is a political question, requiring an examination of actors, interests and power resources. The paper thus applies a political economy framework to a paired comparison of Mexico, where grassroots development approaches (community forestry) had notable successes, and Chile, where market-friendly forest policy crowded out alternatives. [ABSTRACT FROM AUTHOR]

Abstract This paper explores how transnational corporations can ‘transform’ place and livelihoods within a country that has decided to insert itself forcefully within the evolving world economy. The aim is to explore some of the linkages and flows across space that characterise contemporary global capitalism. More specifically, the paper examines the relationship between transnational corporations and fruit production in Chile through examining the formation of global networks and the regulatory system within Chile. The more precise networks created between fruit transnationals and contract farming are examined before the analysis focuses on how the relationship between local development and transnational capitalism has evolved through time in the Guatulame Valley. Two distinct phases are outlined: an early growth phase and one of consolidation and land concentration. The paper ends by pointing to some key themes of transnational capitalism and local development theory in non-core economies. [ABSTRACT FROM AUTHOR]

This paper provides empirical evidence on some of the microeconomic effects of the capital controls introduced in Chile during the 1990s, in particular, the unremunerated reserve requirement (URR). By looking at financial statements for a group of 73 Chilean firms during 1986–2001, the paper attempts to identify the effects of the URR on the firms' costs and ways of financing. Results show that the effects of the URR are firm specific; for instance, there are striking differences in the response to the URR among firms of different size and those with or without access to international capital markets. Copyright © 2003 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Chile is experiencing a period of rapid aging, which increases the need of long-term care services in the country. Nursing homes have been the traditional alternative to deal with the increase of elderly population in the country, with services supplied by a mix of for-profit and nonprofit providers. Additionally, population exhibits a high degree of geographical concentration. The study aims to identify the determinants of the geographical location of nursing homes in Chile at municipality level. The analysis takes into account the different location criteria for different types of nursing homes as well as potential spatial effects. The paper uses spatial analysis tools to identify clusters of nursing homes and population characteristics and to estimate the determinants of nursing homes availability and coverage in the country. The analysis–based on spatial global and local tests, and spatial autoregressive models- show the existence of clusters of nursing homes as well as clusters of municipalities according to elderly population, income, poverty, population density, and public health insurance coverage. Residuals from ordinary least squares regressions were spatially autocorrelated, showing the need of using spatial models. Estimations show that availability and coverage of nursing homes are positively related with municipality income, and that for-profit and nonprofit facilities respond differently to different factors. A negative coefficient was found for poverty in nonprofit nursing homes, raising doubts about the effectiveness of giving public subsidies to incentive the installation of facilities in areas with high needs and low income. [ABSTRACT FROM AUTHOR]

The salmon industry in Chile experienced large and rapid growth over the past three decades and by 2008 Chile was the second largest producer of salmon in the world after Norway. However, the industry was affected by a sanitary crisis that impacted on its growth and forced a change in production strategies. This paper argues that the post-crisis scenario shows the deepening of an enclave economy in Los Lagos region that is changing the way in which the industry participates in rural development. Starting with a literature review on enclave and extractive economies I characterise the salmon industry as an enclave, and then examine evidence from the field to identify local effects in rural communities of this new form of relationship. I conclude by calling for a revitalisation of the geographical debates on enclave economies from a political ecology perspective to better understand communities' interaction with extractive economies. [ABSTRACT FROM AUTHOR]

The question of value is fundamental to contexts of resource scarcity given that contest over use and distribution of scarce resources centres on judgments about rights, interests and access. In mining processes, the use and extraction of water in great volumes commodifies and threatens supplies of what others understand to be a substance essential to all forms of life. In the Atacama, while industrial extraction and commodification by the mining industry are the basis for indigenous people's contestations over water resources, an analysis of everyday water practice and performance (as 'ordinary ethics') demonstrates that an indigenous ethics of resources includes commodity values under certain conditions. This paper examines a field of competing actors engaging in extraction and use of scarce waters in order to make an argument for the importance of considering the complexities and dynamics of ethical practice and water value. [ABSTRACT FROM AUTHOR]

The Chilean water model has been described as a textbook example of a successful free water market system. This paper analyses water-rights transactions to determine how this water market has behaved in the northern Atacama Desert. It questions the neoliberal assumption that Chile’s unregulated water market has acted as an active tool to reallocate water towards uses that provide the highest economic value. Instead, it argues that the state is the central actor in water allocation. This problematizes the notion that the Chilean water model is one of the most unregulated in the world. [ABSTRACT FROM PUBLISHER]

This paper uses plant‐level data from the manufacturing sector of Chile to investigate how changes in the real exchange rate affect the decision to purchase foreign technologies through licensing. Theoretically, a real depreciation has an ambiguous effect on foreign technology adoption. On the one hand, a real depreciation makes exports more competitive, and as exporters tend to adopt and use more advanced technologies, we should observe a higher propensity to import technologies among them. On the other hand, a real depreciation can also make imports of technology relatively more expensive. Thus, this question must be examined empirically. The empirical analysis shows that a real depreciation significantly increases the probability of using foreign technology licences for plants that export and for plants in the intermediate range of the size and productivity distribution. [ABSTRACT FROM AUTHOR]

Research on the news coverage of poverty has largely overlooked the agency of the actors involved. This study addressed this gap by combining ethnographic fieldwork in a poor neighborhood with an analysis of television news about the neighborhood and interviews with the journalists who produced this news. The analysis shows a relationship between journalists and poor people significantly more complex than the relationship described in previous research: Journalists and poor people marketed the neighborhood's misery collaboratively. They shaped news in ways that could be stigmatizing, but that served their converging interests. By acknowledging that structure and agency presuppose each other, this paper contributes to a more nuanced understanding of journalism, as well as to efforts to address poverty's symbolic injustice. [ABSTRACT FROM AUTHOR]

Agriculture could be one of the most vulnerable economic sectors to the impacts of climate change in the coming decades, with impacts threatening agricultural production in general and food security in particular. Within this context, climate change will impose a challenge to policy makers, especially in those countries that based their development on primary sectors. In this paper we present a non-linear agricultural supply model for the analysis of the economic impacts of changes in crop yields due to climate change. The model accounts for uncertainty through the use of Monte Carlo simulations about crop yields. According to our results, climate change impacts on the Chilean agricultural sector are widespread, with considerable distributional consequences across regions, and with fruits producers being worst-off than crops producers. In general, the results reported here are consistent with those reported by previous studies showing large economic impacts on the northern zone. However, our model does not simulate remarkable economic consequences at the country level as previous studies did. [ABSTRACT FROM AUTHOR]

This paper evaluates the feasibility of establishing a multiple-use marine protected area. The methodology was applied to evaluate three proposed sites in Chile with diverse conservation needs, social stress and poverty levels, and different economic activities (small-scale fishing, heavy industry, and mining activities). We use two broad categories for the evaluation: socio-economic and political–institutional. The methodology uses a combination of secondary data with personal interviews, workshops, and focus groups with stakeholders (e.g., fishermen, unions, politicians, social organizations) from different political, social, and economic backgrounds to characterize current and potential natural and social resources and to evaluate in an ordinal scale the feasibility of establishing the protected area. The methodology allows us to correctly identify the challenges faced in each site and can be used to develop appropriate strategies for balancing economic, social, and environmental objectives. This methodology can be replicated to evaluate the feasibility of other marine or terrestrial protected areas. [ABSTRACT FROM AUTHOR]

Salmon aquaculture has emerged as a successful economic industry generating high economic revenues to invest in the development of Chiloe region, Southern Chile. However, salmon aquaculture also consumes a substantial amount of ecosystem services, and the direct and indirect impacts on human wellbeing are still unknown and unexplored. This paper identifies the synergies and trade-offs caused by the salmon industry on a range of ecosystem services. The results show that large economic benefits due to the increase of provisioning ecosystem services are also causing a reduction on regulating and cultural services. Despite the improvement on average income and poverty levels experienced in communities closely associated with the sector, this progress is not large enough and social welfare did not improve substantially over the last decade. The rest of human wellbeing constituents in Chiloe region have not changed significantly compared to the development in the rest of the country. [ABSTRACT FROM AUTHOR]

Abstract: One of the pillars of the educational voucher system is that competition among schools to attract students would improve the quality of the education. Surveys to parents and previous work suggested that families rank the distance of the school from their home as the most important factor for choosing a school. They also suggest that parents largely ignore the results of standardized tests. We use a novel data-set which includes precise measures of the distance between homes and schools to analyze the determinants of school choice in Chile. Economic theory suggests, and the estimations confirm, that parents consider quality and the location when choosing schools. The paper quantifies the relevant trade-offs. [Copyright &y& Elsevier]

Economic inequality and poverty have persisted in Latin America despite important changes in political and policy regimes. This paper explores the relationship between various human capital programs aimed to reduced poverty and how improvements of those in poverty in the left tail of the earning income distribution are likely to reduce inequality. First it reviews some recent benefit/cost estimates for human capital intervention in LAC, suggesting some investments in which the returns appear quite high. Then it turns over to how much increases in schooling attainment targeted to the poor would reduce poverty and income inequality. This is illustrated empirically using the 2004 Chilean Social Protection Survey data. Alternative simulations suggest significant impacts of well targeted increases in schooling attainment on reducing poverty and inequality. [ABSTRACT FROM AUTHOR]

In this paper we analyze intergenerational income and schooling mobility during the 1996-2006 decade in Chile. Using the countries most extended household panel survey, we overcome some of the limitations of the previous Chilean studies by using observed income data for both parents and children, as opposed to observed income data only for children and income data that is generated for parents from the information given by their children retrospectively. Following the recent literature, we control our estimates for time-series variation (Lee and Solon, 2009). Our results show high intergenerational income elasticities in comparison to other developing countries, and these values are higher for sons than for daughters. The same results hold for educational mobility. Trends analysis show that the transmission of economic status have remained constant during the last years in Chile, while educational mobility has increased. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Politics in Latin America is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

There is substantial evidence suggesting that central banks in open economies react to exchange rate fluctuations, in addition to expected inflation and output. In some developing countries this reaction is comparatively larger and it is nonlinear . In an estimated structural macromodel for Chile, this paper assesses the advantages and potential costs of adopting such a reaction function. We conclude that, in the face of most of the external shocks, a policy rule that responds to exchange rate misalignments smooths inflation and output variability, while marginally increasing interest rate fluctuations. On the other hand, for some domestic innovations such a rule performs poorly. When all the shocks are considered at the same time, this rule generates important welfare gains. Finally, when the volatility of external shocks rises, increasing the response to exchange rate misalignments brings welfare improvements. In fact, a more aggressive response to the exchange rate offsets the impact that greater external volatility has on output and inflation, at the cost of inducing higher interest rate fluctuations. In this way, one can interpret the nonlinear reaction to the exchange rate as an optimal response to a more volatile external environment. [ABSTRACT FROM AUTHOR]

The economic valuation of cultural heritage is an area of increasing interest and an important research topic in the emerging field of cultural economics. Many services and values associated with cultural heritage are not traded in markets, and their estimation requires methods developed for the valuation of non-market goods, such as those used in environmental economics. This paper applies the contingent valuation method with double dichotomous choice to estimate the value of historical sites in the city of Valdivia, Chile. The valuation exercise was implemented by designing a hypothetical guided walking tour to a cluster of historical sites in the city centre, and surveying tourists visiting the city during the summer of 2004. Parametric and non-parametric statistical methods were used to estimate the survival distribution and the mean and median estimates of the willingness-to-pay (WTP). The study emphasizes the importance of explicitly treating heterogeneous preferences and the sensitivity of the survival distribution to the estimation methods used. [ABSTRACT FROM AUTHOR]

This paper analyzes the export-behavior of Chilean agribusiness and food processing firms and the relative importance of firm-specific and geographic characteristics in this behavior. Using firm level data and regional geographic indicators, a dynamic model was used to study the export decisions and the export intensity of three industries: processing fish, processing fruits and vegetables, and wine production. Results showed that determinants of exporting behavior vary among the three industries, except the effect of sunk costs, which strongly impacts the export decisions of all analyzed industries. This implies that firms with prior export experience will have higher probability of exporting in the future. Foreign ownership positively impacts the export decision of the two processing industries. Thus, firms belonging to these industries that wish to increase the probability of being an exporter should be encouraged to have a partnership with a foreign company or investor. The export intensity is positively influenced by foreign ownership in the fruit and vegetables processing and wine industries. As in the case of the export decision of firms, foreign participation helps increase the scale of exports. In general, firm-specific characteristics significantly impact the export behavior in Chilean agribusiness and processed food industries, while the contribution of geography attributes appears mixed. [ABSTRACT FROM AUTHOR]

This paper uses the 1996-2001 National Socioeconomic Survey panel database to analyse poverty dynamics in Chile, drawing a distinction between chronic and transient poverty. We found that while 20 per cent of the population was living below the official poverty line both in 1996 and 2001, only 9 per cent of the population was poor at both dates. We also found that when the poverty line was raised, the amount of households which could be considered chronically poor rose steadily, whereas the transitory component of poverty remained more or less stable. Analysis of the direct reasons for changes in household poverty status leads us to the conclusion that labour dynamics are far more relevant than demographic changes. Household heads who suffered health problems are significantly less likely to leave poverty. Household human and physical capital are also relevant, as well as the sector in which the household head works. Simulating this exercise using different poverty lines reveals that some variables are not robust to changes in the definition of poverty, while others which originally appeared to be insignificant become so for most other possible poverty lines. [ABSTRACT FROM AUTHOR]

Abstract: The Aysén Region, located in the Chilean Patagonia, is a territory of 11 million of hectares inhabited by nearly 90 thousand of people. This region has faced the possible construction of one of the biggest smelter aluminium plant in the world. The project would produce irreversible changes to the region''s development path. The authorization of the Chilean environmental authorities, based on the Environmental Impact Assessment (EIA) of the project, is needed to carry out the plan. However, the problem structuring of the EIA System (EIAS) procedure is inadequate to understand and resolve complex problems. The improvement of this kind of decision-making processes, implemented in more than 100 countries, is then needed. This paper proposes the Social Multi-criteria Evaluation (SMCE) framework [Munda, G., 2004. Social Multi-Criteria Evaluation (SMCE): Methodological Foundations and Operacional Consecuentes. European Journal of Operacional Research, vol. 158/3, pp. 662–677] to deal with this kind of situations. SMCE calls for a decision-making process using information coming from a multi/inter disciplinary work and participatory approaches. Then, the problem is structured in a multi-criteria fashion considering several perspectives. The case study is used to illustrate this suggested process. [Copyright &y& Elsevier]

In this paper we compare the distributions of ADR returns and the returns of the locally traded shares between Chile and Argentina. This comparison is interesting because both countries are emerging economies with a similar free market orientation and the trading hours in both countries virtually coincide with the trading hours in New York. Argentina and Chile differ, however, in two important aspects: During our sample period: (1) The Argentinean market was completely under a fixed-exchange rate system, while Chile maintained a flexible exchange rate regime; and (2) Argentina did not impose any restrictions on foreign investments, while Chile did. We find that the return distributions of the Chilean ADRs are significantly different from the distributions of the returns on the respective underlying Chilean shares. While the mean returns are the same, the return''s S.D. are significantly different. In contrast, the hypothesis that the distributions of the returns on the Argentinean ADRs and the returns on their respective underlying shares are the same cannot be rejected. We then use a threshold model to estimate the transaction costs of trading the ADRs and the locally traded shares. We find that the transaction costs that must be added to the returns spread before arbitrage is possible were between 100 and 200 basis points for Chilean ADRs. It was between 66 and 165 basis points for the Argentinean ADRs. The daily return spread reversion caused by arbitrage activities was estimated to be approximately 30% for Chilean ADRs and 40% for Argentinean ADRs. Finally, we cannot reject the hypothesis that low liquidity was a major factor in the cost difference between the two countries. [Copyright &y& Elsevier]

This paper explores the complexities associated with globalization within the context of salmon farming in southern Chile, specifically whether the high levels of foreign investment and exponential growth in the industry have had a positive or negative impact on the people and communities of the archipelago of Chiloé. It is our argument that the responses to this issue require a subtle understanding of both the dynamics of community and the dialectics of modernity. We find substantial evidence that surplus labor, low wage levels, and poorly enforced or nonexistent health and safety standards are conditioning factors in the success of salmon farming in southern Chile. We conclude that a "sustainable community" approach is preferable to a "social sustainable" approach as the former focuses attention on the entire range of issues important to communities and the options open to them in confronting wider structures that affect their lives. [ABSTRACT FROM AUTHOR]

This paper empirically investigates the relationship between equity and credit market development and economic growth, in a sample of five very important 'emerging' markets. In particular, employing a multivariate time-series methodology to test for long-run trends and causality between variables that proxy for stock market development, credit market development and economic development. The results seem to suggest that equity markets have a role to play only in relatively liberalized economies, like Chile and Mexico. In financially repressed economies, like India, the equity market does not affect real sector growth. Furthermore, the banking crises in the 1980s and 1990s in Chile and Mexico resulted in a negative relation between economic growth and the credit market. In South Korea, equity and credit markets both affect economic growth, but not vice versa. In countries where the nature of the stock market has been speculative, like Taiwan, a negative relationship is detected between equity market development and economic development. [ABSTRACT FROM AUTHOR]

Declining fertility, mortality, and productivity rates in developed countries and the popularity of the social security privatization in Chile as a pathway to financial development have sparked a global interest in social security reform. This paper analyzes the effect of social security on saving using a panel of countries over 25 years. Variation in the characteristics of social security systems is used to determine whether less reliance on a pay-as-you-go, unfunded system is associated with higher national saving. There is little evidence that countries that implement defined-contribution reforms have higher trends in saving rates after the reform. Cross-sectionally, countries with pay-as-you-go systems tend to have lower saving rates, and this effect increases with the coverage rate on the system. [ABSTRACT FROM AUTHOR]

In this paper, we report on one exercise of this type: a set of tentative estimates of the economic impact of infant malnutrition in Santiago, Chile. The approach is quite exploratory and reflects limitations both of data and of previous economic analysis of malnutrition problems. However, we can (and do) draw on the considerable body of "technological" information that has been gathered by nutritionists on the effects of malnutrition on child development. We accept these results as definite and base our estimates of benefits on them, in much the same way as an economist evaluating a steel mill accepts an engineer's figures on the amounts of iron, limestone, and coke necessary to produce a ton of final output. [ABSTRACT FROM AUTHOR]