Open economy helps Chile brush aside Fed taper, says CBC's Vial

The Chilean MPC

A relatively open economy, sound macro-economic principles, an independent central bank and rules limiting the expansion of government debt have helped Chile to emerge relatively unscathed from the bouts of volatility in emerging markets that followed the Federal Reserve beginning to taper its asset purchases.

"Openness, depth of financial markets and foreign direct investment helped, by creating counter-flows" to the withdrawal of carry trade positions in Chile, which were sparked as the Federa

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