The perils of lax economic policy: The case of Chile during the COVID-19 pandemic

dc.contributor.authorEspinosaLoyola, Víctor
dc.date.accessioned2023-03-17T12:19:49Z
dc.date.available2023-03-17T12:19:49Z
dc.date.issued2023
dc.description.abstractThis paper examines the short- and long-term effects of lax economic policy in Chile during the COVID-19 pandemic and discusses whether they promoted or inhibited sustainable economic growth and development. The case of Chile is worth studying because it straightforwardly describes the effects of passive and active economic policy on the economy. It is argued that the active or lax economic policy generated a short-term boom period and a long-term recessive environment. Lax economic policy in Chile distorted the price system and the intertemporal allocation of resources, stimulating consumption and indebtedness. Investments became less capital intensive, stagnating labor productivity and reducing growth and development. Regardless of external factors, the research shows that the recession of the Chilean economy emerged from lax economic policies and institutional uncertainty. These findings recognize the causes of the recessive environment of emerging economies, offering new insights into promoting sustainable economic growth and development post-crisis.
dc.description.versionVersión publicada
dc.format.extent18 p.
dc.identifier.citationEspinosa VI. The perils of lax economic policy: The case of Chile during the COVID-19 pandemic. Rev Austrian Econ. 2023 Mar 11:1–18. doi: 10.1007/s11138-023-00619-x
dc.identifier.doihttps://doi.org/10.1007/s11138-023-00619-x
dc.identifier.urihttps://repositorio.udd.cl/handle/11447/7091
dc.language.isoen
dc.subjectLax fiscal policy
dc.subjectLax monetary policy
dc.subjectEconomic growth
dc.subjectDevelopment
dc.subjectEthics
dc.titleThe perils of lax economic policy: The case of Chile during the COVID-19 pandemic
dc.typeArticle
dcterms.accessRightsAcceso abierto
dcterms.sourceThe Review of Austrian Economics
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