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Lessons Learned from Chilean Model of Innovation and Development

Lessons Learned from Chilean Model of Innovation and Development
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Author(s): Juan Rock T. (Universidad de Talca, Chile) and Gordana Pesakovic (King University, USA)
Copyright: 2015
Pages: 15
Source title: Economics: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-4666-8468-3.ch073

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Abstract

In this chapter, the focus is on the Chilean economy and its development based on the innovation strategies and policies applied in the country in the last 40 years. The country's performance is compared with others countries in the region and the developed economies. The main lesson learned from the Chilean experience for the small developing countries are that a small economy can use to its benefit, competitive advantages achieved by other countries. In order to do this a country needs an open foreign policy and transparent, safe and fair business policies.

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