From Financial Times:
Chile caught up relatively well in 1992-2016 — in large part due to good policies and institutions. Nonetheless, we forecast its trend growth in 2017-26 to be on the low side, given its current income level, reflecting a small manufacturing sector and unimpressive scores on R&D and innovation. Our conclusions are sobering, as they suggest that several major EMs may struggle to avoid the MIT. But it is what it is.
Louis Kuijs is Head of Asia Economics at Oxford Economics