Regulatory Policy In Chile: Government Capacity To Ensure High-quality Regulation: Edition 2016 (oecd Reviews Of Regulatory Reform) (volume 2016)
2016 / English / PDF
3.9 MB Download
One of Chile's biggest strengths is its very sound macroeconomic
framework that reinforces its economic resilience. This is partly
based on a prudent regulatory and supervisory framework governing
the financial system. Furthermore, the government's Agenda for
Productivity, Innovation and Growth, co-ordinated by the Ministry
of Economy with the participation of other ministries and state
services, constitutes a good opportunity to use regulatory policy
as a driver to reform the policymaking framework of Chile. For
example, Chile has already made substantive progress in making
regulations more accessible and communicating administrative
requirements. However, while in Chile national regulations provide
the general framework for administrative procedures and an
efficient state administration, the lack of a comprehensive
regulatory reform programme has reduced the possibility of
achieving even better economic outcomes and unleashing resources to
boost productivity. The regulatory policymaking framework lacks
some key features seen in other Oecd countries (e.g. stakeholder
engagement, regulatory impact assessment, oversight body) that
would make sure that regulations are designed in the best way. Good
practices in rule-making procedures are also rather limited. This
review presents the way forward for improving the government's
capacity to ensure high-quality regulation in Chile.
One of Chile's biggest strengths is its very sound macroeconomic
framework that reinforces its economic resilience. This is partly
based on a prudent regulatory and supervisory framework governing
the financial system. Furthermore, the government's Agenda for
Productivity, Innovation and Growth, co-ordinated by the Ministry
of Economy with the participation of other ministries and state
services, constitutes a good opportunity to use regulatory policy
as a driver to reform the policymaking framework of Chile. For
example, Chile has already made substantive progress in making
regulations more accessible and communicating administrative
requirements. However, while in Chile national regulations provide
the general framework for administrative procedures and an
efficient state administration, the lack of a comprehensive
regulatory reform programme has reduced the possibility of
achieving even better economic outcomes and unleashing resources to
boost productivity. The regulatory policymaking framework lacks
some key features seen in other Oecd countries (e.g. stakeholder
engagement, regulatory impact assessment, oversight body) that
would make sure that regulations are designed in the best way. Good
practices in rule-making procedures are also rather limited. This
review presents the way forward for improving the government's
capacity to ensure high-quality regulation in Chile.