From 1984 to 1998, the Chilean economy grew at a rate of 5.4 percent per capita, putting it among the world’s most successful economies in the past twenty years. This performance can undoubtedly be attributed to the market-oriented structural reforms that took place in the 1970s, 1980s, and early 1990s. This route was far from easy, however. The period of substantial growth was preceded by a profound crisis in the early 1980s that led to an accumulated decline in per capita output of around 20 percent for 1982–1983.1 Chile then grew steadily, and it regained its trend level in 1990.2 In the years From 1984 to 1998, the Chilean economy grew at a rate of 5.4 percent per capita, putting it among the world’s most successful economies in the past twenty years. This performance can undoubtedly be attributed to the market-oriented structural reforms that took place in the 1970s, 1980s, and early 1990s. This route was far from easy, however. The period of substantial growth was preceded by a profound crisis in the early 1980s that led to an accumulated decline in per capita output of around 20 percent for 1982–1983. Chile then grew steadily, and it regained its trend level in 1990.2 In the years.