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Journal Article

Business Power and the Minimal State: The Defeat of Industrial Policy in Chile


Madariaga,  Aldo
International Max Planck Research School on the Social and Political Constitution of the Economy, MPI for the Study of Societies, Max Planck Society;
Instituto de Políticas Públicas, Universidad Diego Portales, Santiago de Chile, Chile;

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Bril-Mascarenhas, T., & Madariaga, A. (2019). Business Power and the Minimal State: The Defeat of Industrial Policy in Chile. Journal of Development Studies, 55(6), 1047-1066. doi:10.1080/00220388.2017.1417587.

Cite as: https://hdl.handle.net/21.11116/0000-0001-23EC-E
Chile has maintained a limited industrial policy for nearly three decades. Policy resilience during the 2000s and 2010s is especially puzzling given the political and economic context: three Socialist-led administrations; the retreat of the Washington Consensus; resource abundance from the commodity boom; and the decline of the so-called economic ‘miracle’. We present the first comprehensive analysis of industrial policy in post-authoritarian Chile (1990–present) and show the significant political influence of business actors with a preference for limited state intervention in the economy as a mechanism of policy reproduction.