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www.oecd.org/eco/surveys/economic-survey-chile.htm
OECD
OECD Economics
2015 OECD ECONOMIC
SURVEY OF CHILE
Bringing all Chileans on board
Santiago, 25 November 2015
2
A long period of growth has reduced poverty
dramatically
Note: The poverty line for a family of four is a family income below CLP 361 311 per month, and the extreme poverty line is
a family income below CLP 240 874 per month, both for the year 2013.
Source: Ministerio de Desarrollo Social.
0
5
10
15
20
25
30
35
40
0
5
10
15
20
25
30
35
40
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
% of people% of people Poverty Extreme poverty
-1
0
1
2
3
4
5
6
-1
0
1
2
3
4
5
6
I II III IV I II III IV I II III IV I II III IV I II III IV
2013 2014 2015 2016 2017
Chile Latin America
3
Growth has been resilient
Source: OECD Economic Outlook 98 database
GDP growth, Y-o-Y % change
4
The fall in copper prices has depressed
investment
Source: Codelco and OECD Economic Outlook 98 database.
-80
-60
-40
-20
0
20
40
60
80
100
120
140
-20
-15
-10
-5
0
5
10
15
20
25
30
35
i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Y-o-y % changesY-o-y % changes
Investment (lhs) Copper price (rhs)
-12
-8
-4
0
4
8
12
0
1
2
3
4
5
6
I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV
2011 2012 2013 2014 2015 2016 2017
Y-o-Y % changes
Consumer price inflation (lhs)
Nominal effective exchange rate, chain-linked, overall weights (rhs)
5
Exchange rate depreciation has temporarily
raised inflation
Source: Central bank of Chile and OECD Economic Outlook 98 database.
Y-o-Y % changes
6
Improving opportunities for all
7
The richest 10% earn 26.5 times the income
of the poorest 10%
Source: OECD, Income Distribution and Poverty Database.
Ratio of incomes of the top 10% vs. bottom 10%
0
5
10
15
20
25
0
5
10
15
20
25
DNK
CZE
FIN
SVN
ISL
SVK
BEL
NOR
SWE
DEU
CHE
NLD
AUT
LUX
HUN
POL
FRA
IRL
NZL
CAN
AUS
OECD
EST
PRT
GBR
KOR
JPN
ITA
ESP
GRC
ISR
TUR
USA
MEX
CHL
ratioratio
Growth needs to become more inclusive
8
The tax and transfer system does little to reduce
income inequality
 Raise tax revenues to increase social spending, and improve
the redistributive impact of taxes and transfers.
0.2
0.25
0.3
0.35
0.4
0.45
0.5
0.55
0.2
0.25
0.3
0.35
0.4
0.45
0.5
0.55
KOR
CHE
ISL
SVK
SWE
DNK
NLD
NOR
CZE
NZL
JPN
AUS
SVN
CAN
FIN
BEL
DEU
EST
POL
HUN
AUT
LUX
ITA
ISR
FRA
TUR
ESP
USA
PRT
GBR
MEX
GRC
CHL
IRL
OECD
Inequality before taxes and tansfers Inequality after taxes and transfers
% changes in Gini before and after taxes and transfers
Source: OECD, Income Distribution and Poverty Database.
9
Pension benefits are among the lowest in the OECD
Note: “Average” and “low” earnings levels refer to 100% AW and 50% of the AW respectively.
Source: OECD, Pension at a Glance Database.
 The pension system should provide better income
support in retirement.
0
20
40
60
80
100
120
0
20
40
60
80
100
120
JPN
DEU
MEX
USA
POL
CHL
KOR
GBR
SWE
FIN
IRL
FRA
PRT
CHE
ESP
EST
BEL
SVN
OECD
NZL
ITA
LUX
SVK
CAN
NOR
AUT
GRC
ISL
HUN
CZE
AUS
TUR
NLD
ISR
DNK
Low = 50% Average wage
Average = 100% Average wage
Net pension replacement rates Net pension replacement rates
10
Inequality in the labour market is also high
Share of temporary contracts
 Reduce duality in the labour market between protected
indefinite contracts and precarious fixed-term contracts.
0
5
10
15
20
25
30
0
5
10
15
20
25
30
EST
GBR
SVK
LUX
BEL
NOR
DNK
AUT
CZE
GRC
IRL
HUN
OECD
TUR
CHE
ITA
CAN
DEU
ISL
FIN
SVN
FRA
SWE
NLD
PRT
KOR
ESP
POL
CHL
%%
Source: OECD Employment and Labour Market Statistics 2014.
11
Reducing gender gaps is key to boost growth and
reduce inequality
Source: OECD Employment and Labour Market Statistics 2014.
 Further expand availability and quality of early childhood
education and care.
50 55 60 65
Chile
Latin
America
OECD
Labour force participation rate 2014, women aged 15-64
12
Very few women are on corporate boards
Source: World Values Survey Association.
0
5
10
15
20
0
5
10
15
20
DEU
JPN
NLD
CHL
CAN
PER
IND
IRL
EGY
ITA
ARG
TUR
MEX
POL
AUS
NZL
GBR
BRA
CHE
PRT
GRC
LUX
DNK
OECD
ESP
BEL
USA
FRA
SWE
NOR
% %
 Promote gender diversity in leadership positions in parliament
and private companies.
38
13
Gender pay gap is highest for the poorest
Source: OECD calculations based on CASEN(2013).
 Bring gender issues into the public debate through information
campaigns.
0
10
20
30
40
50
60
0
10
20
30
40
50
60
Poorest decile 3rd decile 5th decile 7th decile Richest decile
%%
14
Spending on active labour market policies is low
Note: The figure for Chile does not include the recent programme MasCapaz.
Source: OECD Employment and Labour Market Statistics 2014.
 Increase investment on active labour market policies to help
promote labour opportunities for women.
0
0.5
1
1.5
2
2.5
3
3.5
4
0
0.5
1
1.5
2
2.5
3
3.5
4
MEX
USA
CHL
JPN
GBR
CZE
KOR
SVK
NZL
EST
ISR
POL
CAN
NOR
AUS
HUN
SVN
CHE
LUX
DEU
ITA
SWE
AUT
PRT
FRA
FIN
BEL
NLD
IRL
DNK
ESP
% of GDP% of GDP
15
Better skills for inclusive growth
16
Many students lack minimum skills
Source: OECD, PISA 2012 Database.
 Ensure that schools are more responsive to vulnerable students,
especially by boosting the quality of outcomes.
 Undertake a skills strategy to assess labour market needs and
guide training and education policies.
0
10
20
30
40
50
60
70
OECD Chile Latin America
% of students with poor skills
17
A low share of students beat the socio-economic
odds stacked against them
Source: OECD, PISA 2012 Database.
 Improve the quality and access to pre-primary education.
 Implement legislation to end school selection.
0
2
4
6
8
10
12
14
0
2
4
6
8
10
12
14
CHL
ISR
GRC
MEX
SVK
HUN
SWE
DNK
USA
ISL
NZL
NOR
FRA
GBR
SVN
CZE
LUX
AUT
AUS
IRL
OECD
ITA
ESP
BEL
TUR
DEU
PRT
FIN
CAN
POL
NLD
EST
CHE
JPN
KOR
% of disadvantaged students with top PISA math scores
18
Education and skills improve growth
Note: The bars in Panel B refer to annual growth rates (in percentage
points) once the whole labour force has reached the specific goal.
Source: OECD, PISA 2012 Database and OECD (2015).
Change in annual GDP growth if universal basic skills are attained by 2030
0
0.1
0.2
0.3
0.4
0.5
0.6
0
0.1
0.2
0.3
0.4
0.5
0.6
Universal enrolment in secondary
school at current school quality
Every current student acquired
basic skills
Universal enrolment in secondary
school and every student acquired
basic skills
Percentage pointsPercentage points
19
Chile has a shortage of qualified teachers
Source: OECD, PISA 2012 Database.
Percentage of certified teachers
(as reported by school principals in PISA)
 Approve the legislation to strengthen teachers’ career paths.
0
10
20
30
40
50
60
70
80
90
100
0
10
20
30
40
50
60
70
80
90
100
CHL
MEX
LUX
ISR
NLD
FRA
GRC
CHE
ITA
BEL
OECD
AUT
SWE
NOR
FIN
TUR
DEU
SVK
GBR
SVN
USA
NZL
PRT
CAN
ISL
AUS
POL
IRL
KOR
JPN
ESP
%%
20
Tertiary education: the poor enroll far less than the rich
Source: CASEN (2013).
Percentage of students enrolled in tertiary education by level of family income
0
10
20
30
40
50
60
70
80
90
100
0
10
20
30
40
50
60
70
80
90
100
Poorest quintile Quintile 2 Quintile 3 Quintile 4 Richest quintile
%%
 Expand and improve income-contingent loans to finance tuition
fees and help students access tertiary education.
 Link funding for tertiary education to improved quality,
especially for the least well-off students.
21
Boosting productivity growth
22
Boosting productivity growth is one of Chile’s
foremost challenge to raise living standards
Source: UAI/CORFO (2014), Boletín trimestral Evolución de la PTF en Chile, No. 7.
Total factor productivity
 Fully roll out the Productivity Agenda, to strengthen the capacity of
dynamic firms to scale up and carry out innovative activities.
-12
-10
-8
-6
-4
-2
0
2
4
6
8
-12
-10
-8
-6
-4
-2
0
2
4
6
8
1993-1998 2000-2008 2010-2013
Average annual %
growth
Average annual %
growth
Total Fator Productivity (TFP) : Aggregate
TFP: Aggregate without natural resources
TFP: Mining
23
Spending on R&D remains very low
Source: OECD Science, Technology and Industry Scoreboard 2015: Innovation for growth and society.
R&D expenditure
 Increase spending on R&D to scale up and support innovative
activities.
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
CHL
MEX
ARG
ZAF
GRC
SVK
POL
TUR
RUS
LUX
ESP
ITA
NZL
PRT
HUN
IRL
CAN
GBR
NOR
EST
CZE
NLD
CHN
AUS
FRA
BEL
ISL
SVN
USA
AUT
DEU
CHE
DNK
SWE
FIN
JPN
KOR
ISR
Private Non-Profit sector Government sector
Higher Education sector Business Enterprise sector
OECD average
% of GDP % of GDP
24
Business regulation remains restrictive in
multiple areas
Sources: OECD, Product Market Regulation Database.
 Further reduce the complexity of administrative procedures for
business and simplify sector-specific regulations.
Product market restrictiveness
0 1 2 3 4 5 6
Best 3
performers
Average OECD
Chile
Regulatory complexity
Barriers in network
sectors
Startup burdens
Increasing in stringency of regulation (Index 0-6)
25
Summary
Main Findings
o The sound macroeconomic framework made growth more resilient than in
other countries in the face of the recent fall in commodity prices.
o However, income inequality remains very high and is passed from one
generation to the next, reducing opportunities to climb the social ladder.
o Chile is now reforming its tax system to make it more progressive and
expand social programmes.
o Key reforms seek to reduce gender gaps and thus achieve a fairer society.
o But labour market duality still results in a very unequal wages distribution.
o School enrolment is high, although the quality of education is uneven, and
access to the best schools is reserved primarily for well-off families.
o The government’s education reform seeks to make schools more inclusive
and reshape teacher careers.
o More investment in vocational education and training will be needed.
26
EducationInclusionMacro
Recommendations to widen opportunities
 Strengthen policies to make growth more inclusive.
 Raise tax revenues to increase social spending and improve the
redistributive impact of taxes and transfers.
 Further expand availability and quality of early childhood education and
care.
 Promote gender diversity in leadership positions in parliament and private
companies.
 Bring gender issues in the public debate through information campaigns.
 Reduce duality in the labour market between protected indefinite contracts
and precarious fixed-term contracts.
 The pension system should provide better income support to the retired.
27
Recommendations to improve skills
 Ensure that schools are more responsive to vulnerable students,
especially by boosting the quality of outcomes.
 Undertake a skills strategy to assess labour market needs and guide
training and education policies.
 Improve the quality and access to pre-primary education.
 Implement legislation to end school selection.
 Approve the legislation to strengthen teachers’ career paths.
 Link funding for tertiary education to improved quality, especially for
the least well-off students.
28
Recommendations to boost productivity
29
 Fully roll out the Productivity Agenda, to strengthen the capacity of
dynamic firms to scale up and carry out innovative activities.
 Increase spending on R&D to scale up and support innovative
activities.
 Further reduce the complexity of administrative procedures for
business and simplify sector-specific regulations.
 Pass the competition bill that strengthens sanctions for cartels,
reform the merger control regime and facilitate market studies.
More Information…
www.oecd.org/eco/surveys/economic-survey-chile.htm
OECD
OECD Economics
Disclaimers:
The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without
prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.
This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers
and boundaries and to the name of any territory, city or area.
30

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Bringing all-chileans-on-board-oecd-economic-survey-chile

  • 1. www.oecd.org/eco/surveys/economic-survey-chile.htm OECD OECD Economics 2015 OECD ECONOMIC SURVEY OF CHILE Bringing all Chileans on board Santiago, 25 November 2015
  • 2. 2 A long period of growth has reduced poverty dramatically Note: The poverty line for a family of four is a family income below CLP 361 311 per month, and the extreme poverty line is a family income below CLP 240 874 per month, both for the year 2013. Source: Ministerio de Desarrollo Social. 0 5 10 15 20 25 30 35 40 0 5 10 15 20 25 30 35 40 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 % of people% of people Poverty Extreme poverty
  • 3. -1 0 1 2 3 4 5 6 -1 0 1 2 3 4 5 6 I II III IV I II III IV I II III IV I II III IV I II III IV 2013 2014 2015 2016 2017 Chile Latin America 3 Growth has been resilient Source: OECD Economic Outlook 98 database GDP growth, Y-o-Y % change
  • 4. 4 The fall in copper prices has depressed investment Source: Codelco and OECD Economic Outlook 98 database. -80 -60 -40 -20 0 20 40 60 80 100 120 140 -20 -15 -10 -5 0 5 10 15 20 25 30 35 i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv i ii iii iv 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Y-o-y % changesY-o-y % changes Investment (lhs) Copper price (rhs)
  • 5. -12 -8 -4 0 4 8 12 0 1 2 3 4 5 6 I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV 2011 2012 2013 2014 2015 2016 2017 Y-o-Y % changes Consumer price inflation (lhs) Nominal effective exchange rate, chain-linked, overall weights (rhs) 5 Exchange rate depreciation has temporarily raised inflation Source: Central bank of Chile and OECD Economic Outlook 98 database. Y-o-Y % changes
  • 7. 7 The richest 10% earn 26.5 times the income of the poorest 10% Source: OECD, Income Distribution and Poverty Database. Ratio of incomes of the top 10% vs. bottom 10% 0 5 10 15 20 25 0 5 10 15 20 25 DNK CZE FIN SVN ISL SVK BEL NOR SWE DEU CHE NLD AUT LUX HUN POL FRA IRL NZL CAN AUS OECD EST PRT GBR KOR JPN ITA ESP GRC ISR TUR USA MEX CHL ratioratio Growth needs to become more inclusive
  • 8. 8 The tax and transfer system does little to reduce income inequality  Raise tax revenues to increase social spending, and improve the redistributive impact of taxes and transfers. 0.2 0.25 0.3 0.35 0.4 0.45 0.5 0.55 0.2 0.25 0.3 0.35 0.4 0.45 0.5 0.55 KOR CHE ISL SVK SWE DNK NLD NOR CZE NZL JPN AUS SVN CAN FIN BEL DEU EST POL HUN AUT LUX ITA ISR FRA TUR ESP USA PRT GBR MEX GRC CHL IRL OECD Inequality before taxes and tansfers Inequality after taxes and transfers % changes in Gini before and after taxes and transfers Source: OECD, Income Distribution and Poverty Database.
  • 9. 9 Pension benefits are among the lowest in the OECD Note: “Average” and “low” earnings levels refer to 100% AW and 50% of the AW respectively. Source: OECD, Pension at a Glance Database.  The pension system should provide better income support in retirement. 0 20 40 60 80 100 120 0 20 40 60 80 100 120 JPN DEU MEX USA POL CHL KOR GBR SWE FIN IRL FRA PRT CHE ESP EST BEL SVN OECD NZL ITA LUX SVK CAN NOR AUT GRC ISL HUN CZE AUS TUR NLD ISR DNK Low = 50% Average wage Average = 100% Average wage Net pension replacement rates Net pension replacement rates
  • 10. 10 Inequality in the labour market is also high Share of temporary contracts  Reduce duality in the labour market between protected indefinite contracts and precarious fixed-term contracts. 0 5 10 15 20 25 30 0 5 10 15 20 25 30 EST GBR SVK LUX BEL NOR DNK AUT CZE GRC IRL HUN OECD TUR CHE ITA CAN DEU ISL FIN SVN FRA SWE NLD PRT KOR ESP POL CHL %% Source: OECD Employment and Labour Market Statistics 2014.
  • 11. 11 Reducing gender gaps is key to boost growth and reduce inequality Source: OECD Employment and Labour Market Statistics 2014.  Further expand availability and quality of early childhood education and care. 50 55 60 65 Chile Latin America OECD Labour force participation rate 2014, women aged 15-64
  • 12. 12 Very few women are on corporate boards Source: World Values Survey Association. 0 5 10 15 20 0 5 10 15 20 DEU JPN NLD CHL CAN PER IND IRL EGY ITA ARG TUR MEX POL AUS NZL GBR BRA CHE PRT GRC LUX DNK OECD ESP BEL USA FRA SWE NOR % %  Promote gender diversity in leadership positions in parliament and private companies. 38
  • 13. 13 Gender pay gap is highest for the poorest Source: OECD calculations based on CASEN(2013).  Bring gender issues into the public debate through information campaigns. 0 10 20 30 40 50 60 0 10 20 30 40 50 60 Poorest decile 3rd decile 5th decile 7th decile Richest decile %%
  • 14. 14 Spending on active labour market policies is low Note: The figure for Chile does not include the recent programme MasCapaz. Source: OECD Employment and Labour Market Statistics 2014.  Increase investment on active labour market policies to help promote labour opportunities for women. 0 0.5 1 1.5 2 2.5 3 3.5 4 0 0.5 1 1.5 2 2.5 3 3.5 4 MEX USA CHL JPN GBR CZE KOR SVK NZL EST ISR POL CAN NOR AUS HUN SVN CHE LUX DEU ITA SWE AUT PRT FRA FIN BEL NLD IRL DNK ESP % of GDP% of GDP
  • 15. 15 Better skills for inclusive growth
  • 16. 16 Many students lack minimum skills Source: OECD, PISA 2012 Database.  Ensure that schools are more responsive to vulnerable students, especially by boosting the quality of outcomes.  Undertake a skills strategy to assess labour market needs and guide training and education policies. 0 10 20 30 40 50 60 70 OECD Chile Latin America % of students with poor skills
  • 17. 17 A low share of students beat the socio-economic odds stacked against them Source: OECD, PISA 2012 Database.  Improve the quality and access to pre-primary education.  Implement legislation to end school selection. 0 2 4 6 8 10 12 14 0 2 4 6 8 10 12 14 CHL ISR GRC MEX SVK HUN SWE DNK USA ISL NZL NOR FRA GBR SVN CZE LUX AUT AUS IRL OECD ITA ESP BEL TUR DEU PRT FIN CAN POL NLD EST CHE JPN KOR % of disadvantaged students with top PISA math scores
  • 18. 18 Education and skills improve growth Note: The bars in Panel B refer to annual growth rates (in percentage points) once the whole labour force has reached the specific goal. Source: OECD, PISA 2012 Database and OECD (2015). Change in annual GDP growth if universal basic skills are attained by 2030 0 0.1 0.2 0.3 0.4 0.5 0.6 0 0.1 0.2 0.3 0.4 0.5 0.6 Universal enrolment in secondary school at current school quality Every current student acquired basic skills Universal enrolment in secondary school and every student acquired basic skills Percentage pointsPercentage points
  • 19. 19 Chile has a shortage of qualified teachers Source: OECD, PISA 2012 Database. Percentage of certified teachers (as reported by school principals in PISA)  Approve the legislation to strengthen teachers’ career paths. 0 10 20 30 40 50 60 70 80 90 100 0 10 20 30 40 50 60 70 80 90 100 CHL MEX LUX ISR NLD FRA GRC CHE ITA BEL OECD AUT SWE NOR FIN TUR DEU SVK GBR SVN USA NZL PRT CAN ISL AUS POL IRL KOR JPN ESP %%
  • 20. 20 Tertiary education: the poor enroll far less than the rich Source: CASEN (2013). Percentage of students enrolled in tertiary education by level of family income 0 10 20 30 40 50 60 70 80 90 100 0 10 20 30 40 50 60 70 80 90 100 Poorest quintile Quintile 2 Quintile 3 Quintile 4 Richest quintile %%  Expand and improve income-contingent loans to finance tuition fees and help students access tertiary education.  Link funding for tertiary education to improved quality, especially for the least well-off students.
  • 22. 22 Boosting productivity growth is one of Chile’s foremost challenge to raise living standards Source: UAI/CORFO (2014), Boletín trimestral Evolución de la PTF en Chile, No. 7. Total factor productivity  Fully roll out the Productivity Agenda, to strengthen the capacity of dynamic firms to scale up and carry out innovative activities. -12 -10 -8 -6 -4 -2 0 2 4 6 8 -12 -10 -8 -6 -4 -2 0 2 4 6 8 1993-1998 2000-2008 2010-2013 Average annual % growth Average annual % growth Total Fator Productivity (TFP) : Aggregate TFP: Aggregate without natural resources TFP: Mining
  • 23. 23 Spending on R&D remains very low Source: OECD Science, Technology and Industry Scoreboard 2015: Innovation for growth and society. R&D expenditure  Increase spending on R&D to scale up and support innovative activities. 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 CHL MEX ARG ZAF GRC SVK POL TUR RUS LUX ESP ITA NZL PRT HUN IRL CAN GBR NOR EST CZE NLD CHN AUS FRA BEL ISL SVN USA AUT DEU CHE DNK SWE FIN JPN KOR ISR Private Non-Profit sector Government sector Higher Education sector Business Enterprise sector OECD average % of GDP % of GDP
  • 24. 24 Business regulation remains restrictive in multiple areas Sources: OECD, Product Market Regulation Database.  Further reduce the complexity of administrative procedures for business and simplify sector-specific regulations. Product market restrictiveness 0 1 2 3 4 5 6 Best 3 performers Average OECD Chile Regulatory complexity Barriers in network sectors Startup burdens Increasing in stringency of regulation (Index 0-6)
  • 26. Main Findings o The sound macroeconomic framework made growth more resilient than in other countries in the face of the recent fall in commodity prices. o However, income inequality remains very high and is passed from one generation to the next, reducing opportunities to climb the social ladder. o Chile is now reforming its tax system to make it more progressive and expand social programmes. o Key reforms seek to reduce gender gaps and thus achieve a fairer society. o But labour market duality still results in a very unequal wages distribution. o School enrolment is high, although the quality of education is uneven, and access to the best schools is reserved primarily for well-off families. o The government’s education reform seeks to make schools more inclusive and reshape teacher careers. o More investment in vocational education and training will be needed. 26 EducationInclusionMacro
  • 27. Recommendations to widen opportunities  Strengthen policies to make growth more inclusive.  Raise tax revenues to increase social spending and improve the redistributive impact of taxes and transfers.  Further expand availability and quality of early childhood education and care.  Promote gender diversity in leadership positions in parliament and private companies.  Bring gender issues in the public debate through information campaigns.  Reduce duality in the labour market between protected indefinite contracts and precarious fixed-term contracts.  The pension system should provide better income support to the retired. 27
  • 28. Recommendations to improve skills  Ensure that schools are more responsive to vulnerable students, especially by boosting the quality of outcomes.  Undertake a skills strategy to assess labour market needs and guide training and education policies.  Improve the quality and access to pre-primary education.  Implement legislation to end school selection.  Approve the legislation to strengthen teachers’ career paths.  Link funding for tertiary education to improved quality, especially for the least well-off students. 28
  • 29. Recommendations to boost productivity 29  Fully roll out the Productivity Agenda, to strengthen the capacity of dynamic firms to scale up and carry out innovative activities.  Increase spending on R&D to scale up and support innovative activities.  Further reduce the complexity of administrative procedures for business and simplify sector-specific regulations.  Pass the competition bill that strengthens sanctions for cartels, reform the merger control regime and facilitate market studies.
  • 30. More Information… www.oecd.org/eco/surveys/economic-survey-chile.htm OECD OECD Economics Disclaimers: The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. 30

Editor's Notes

  1. Slide 1: I crafted all the bullet points by combining the titles of key recommendations to make sentences.