The relatively rapid economic growth experienced by Chile in the late 1980s
A) supported the conventional Latin American reliance on import substitution.
B) relied on the Harris-Todaro model to explain this growth.
C) rejected the conventional Latin American reliance on import substitution.
D) demonstrated the importance of market failure as a reason for import substitution.
E) relied on high tariffs and import substitution.

Question

Quizplus · Accepted Answer

The relatively rapid economic growth experienced by Chile in the late 1980s rejected the conventional Latin American reliance on import substitution. Rather, Chile adopted a model of economic liberalization, moving towards greater market-oriented policies and increasing international trade. This policy shift led to increased foreign investment, higher productivity, and overall economic growth.

The Relatively Rapid Economic Growth Experienced by Chile in the Late