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Abstract
Governments worldwide face the difficult challenge of deciding which infrastructure projects to prioritize and select for implementation, given the limits of available funding and the need to attain their developmental goals. The key objective of this report is to conduct a comparative exercise between the World Bank's Infrastructure Prioritization Framework, a multicriteria analysis–based methodology to project prioritization, and a more complex cost-benefit analysis–based approach. The report focuses on Chile, which has a well-institutionalized evaluation process that uses cost-benefit analysis to assess projects on their quality and ability to generate value for money. The analysis compares the results of the Infrastructure Prioritization Framework alongside Chile's current cost-benefit analysis–based and multicriteria analysis approaches to the same subsets of projects in the road transport and water reservoir subsectors, respectively. The results show that the Infrastructure Prioritization Framework has application beyond its original proposition and can complement a traditional cost-benefit analysis by directly considering social and environmental policy goals that are otherwise difficult to quantify in a cost-benefit analysis. The analysis also finds that in Chile there is a discrepancy between the stated goals and objectives of the appraisal system and the actual implementation. In the case of transport sector projects, there is an evident deviation between cost-benefit analysis–based selection policy and actual decisions made for project implementation. In the case of water catchment selection, there is a bias toward projects with higher financial-economic performance as compared to social-environmental performance, despite policy intentions to afford consideration to environmental and social development goals.
Citation
“Marcelo, Darwin; House, Schuyler; Raina, Aditi. 2018. Prioritizing Infrastructure Investments; Prioritizing Infrastructure Investments: A Comparative Review of Applications in Chile : A Comparative Review of Applications in Chile. Policy Research Working Paper;No. 8602. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/d1b571c2-b493-5008-8c10-491207d45b3f License: CC BY 3.0 IGO.”
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FAQs
Does Chile have good infrastructure? ›
Our listing of the primary types of transport compares the infrastructure of Chile with the average of all countries in America. Overall, the main traffic and transport routes are well developed and in comparatively good condition.
What is the infrastructure like in Chile? ›Efficient, Reliable Infrastructure In Chile
With its modern, four-lane highways, reliable communications, and high standard of living, Chile is one of the easiest transitions for North American expats in Latin America. If not completely First World, it is not far off. Chile feels efficient, well-run, and safe.
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- Germany. #1 in Well-developed infrastructure. ...
- Japan. #2 in Well-developed infrastructure. ...
- United States. ...
- United Kingdom. ...
- France. ...
- South Korea. ...
- Canada. ...
- Denmark.
Singapore is the global leader in overall infrastructure with a value of 95.4 on a scale of 0 to 100. The United States were ranked 13th. Well functioning infrastructure is a cornerstone of a modern society.
Why Chile is so successful? ›In short, thanks to the free‐market reforms introduced by the Chicago Boys and maintained by the democratic regimes that came later, Chile became the most prosperous country in Latin America, which mostly benefitted the poorest members of the population.
What are 3 major industries in Chile? ›Main Sectors of Industry
Chile is among the most industrialised countries in Latin American and some of its key industries include mining (copper, coal and nitrate), manufactured products (food processing, chemicals, wood) and agriculture (fishing, viticulture and fruit).
In recent years, huge multinationals such as Oracle, Google, and Amazon Web Services (AWS) have set up bases in the country's capital, Santiago. These large arrivals have generated momentum for the local tech industry. These large companies have been bolstered by Chile's impressive connectivity.
Who is #1 in infrastructure? ›| Rank | Country | Score |
|---|---|---|
| 1 | Norway | 0.085 |
| 2 | Colombia | 0.136 |
| 3 | Algeria | 0.145 |
| 4 | Gabon | 0.158 |
According to the World Economic Forum's Global Competitiveness Report, in 2019, the United States ranked thirteenth in the world [PDF] in a broad measure of infrastructure quality—down from fifth place in 2002.
Which city has the best infrastructure in the world? ›Singapore ranks first among the 221 major cities surveyed around the world. The ranking of the city's infrastructure is based on the city's electricity supply, water availability, public transportation, traffic congestion, telephone and mail services and the range of international flights from local airports.
What city in the US has the best infrastructure? ›
In the United States, Honolulu (28) and San Francisco (29) are the highest-ranking cities, followed by Boston (35). Chicago is ranked 42nd, while Washington, D.C., is ranked 43rd.
Does the US have good infrastructure? ›The World Economic Forum now ranks the United States 13th when it comes to the overall quality of infrastructure. Examples of our nation's fragile and aging infrastructure abound. More than 45,000 U.S. bridges and 1 in 5 miles of roads are in poor condition, per the American Society of Civil Engineers.
Which country has the best quality of life? ›1. Sweden. Sweden is the top country in 2022 best quality of life rankings. The country stands out in the ranking of quality of life for health systems and well-developed public education, security, economic stability, and politics.
What is Chile's competitive advantage? ›Chile consistently ranks as the most competitive economy within the region, underpinned by a pro-investment business environment, an educated workforce, solid infrastructure and well-developed trade roots to the rest of the world.
What makes Chile the most money? ›Background. Chile is the world's leading producer of copper, and GDP growth has been driven by exports of minerals, wood, fruit, seafood, and wine. With Bolivia and Argentina, it has the world's highest quantity of commercially viable lithium.
Is Chile a 1st world country? ›Chile as “2nd World”
Today, most of Latin America is considered Second World or emerging market based upon development status and economic metrics. Most geopolitical experts consider Chile to be the most developed country in all of Latin America.
In 2020, Falabella was the most valuable Chilean brand, with a brand value of 5.19 billion U.S. dollars. Falabella is a chain of department store present in Argentina, Chile, Colombia, and Peru.
Is Chile doing well economically? ›Chile has a recognized track record in development, with strong economic dynamism in recent decades. However, growth has been slowing down, stagnating productivity and progress in equity. 30% of the population is economically vulnerable and income inequality is high.
What is the average monthly salary in Chile? ›What is average wage in Chile? Average Wages in Chile increased to 6162 CLP/Hour (1223.924 USD/Month) in December 2022. The maximum rate of average wage for employees was 5276 CLP/Hour and minimum was 2571 CLP/Hour. Data published Monthly by National Institute of Statistics.
Is Chile technologically advanced? ›Overview. The Information Technology (IT) sector is one of Chile's most promising sectors, with the highest growth potential in the region. According to IDC, the total market in 2021 was $8.7 billion, a 35 percent increase from 2020, and is expected to grow five percent in 2022.
What is the most advanced city in Latin America? ›
Santiago de Chile is the smartest city in Latin America, according to the Cities in Motion ranking prepared by the IESE Business School. In the global ranking it comes in at number 66. The Chilean capital has become a kind of laboratory where different technologies are tested.
Is Chile well developed? ›Chile is considered a developing country, but more specifically, it has recently been designated as an upper middle income country using the World Bank's classifications of economies into low (≤$1,005), middle (subdivided into lower [$1,006–$3,975] and upper [$3,976–$12,275]), or high incomes (≥$12,276), which is based ...
Does Chile have a good quality of life? ›Life satisfaction measures how people evaluate their life as a whole rather than their current feelings. When asked to rate their general satisfaction with life on a scale from 0 to 10, Chileans on average gave it a 6.2 grade, below the OECD average of 6.7.
Is Chile a rich or poor country? ›The country is considered one of South America's most prosperous nations, leading the region in competitiveness, income per capita, globalization, economic freedom, and low perception of corruption. Although Chile has high economic inequality, as measured by the Gini index, it is close to the regional mean.
Is Chile a Stage 3 country? ›2-18: Chile entered stage 2 of the demographic transition in the 1930s, and it entered stage 3 in the 1960s. Fig. 2-19: Denmark has been in stage 4 of the demographic transition since the 1970s, with little population growth since then. Its population pyramid shows increasing numbers of elderly and few children.
Does Chile have the strongest economy in South America? ›A small elite society controls most of the land, economy, and political life in Chile. Chile is the most developed country in South America.
Is Chile a good place for Americans to retire? ›Security: Chile is considered a safe destination for both tourists and residents, with a relatively low crime rate compared to other countries in the region. By retiring in Chile, you can enjoy a quiet and pleasant life in a safe country. Climate: The weather in Chile is perfect all year round.
Is Chile a good country for Americans? ›Chile is one of the most organized, economically stable and safest countries in the entire region, but it's a Latin American country that will is almost certainly different from your home country. In other words, be prepared for a healthy amount of culture shock!
Is Chile financially stable? ›Chile's economy is considered as South America's most stable economy. GDP has become more diversified throughout the years. Chile is a productive country, with sectors such as mining, agriculture, fishing, forestry, and wine.
Is Chile a US ally? ›Chile is one of the United States' strongest partners in Latin America and a leader in promoting respect for the rule of law, economic stability, education, environmental protection, human rights, and sustainable development.
What is the safest nation in South America? ›
1. Uruguay. Sitting at the top of the pile of safest South American countries is Uruguay. According to the 2022 Global Peace Index, Uruguay ranks 46th out of the world's 163 nations.
Is South America considered 3rd world? ›1 Defining the Third World
The Third World includes all countries of Africa (except South Africa), Asia (except Japan), and Latin America and the Caribbean, and some states and territories of Oceania.
Studies on the ethnic makeup of Chile differ significantly from one another. A public health book from the University of Chile states that 30% of the population is of Caucasian origin; Mestizos with predominantly-White ancestry are estimated to amount a total of 65%, while Amerindians comprise the remaining 5%.
What is the wealthiest South American country? ›Which are the largest Latin American economies? Based on annual gross domestic product, which is the total amount of goods and services produced in a country per year, Brazil leads the regional ranking, followed by Mexico, Argentina, and Chile.
Who is richer Mexico or Chile? ›Chile has a GDP per capita of $23,300 as of 2020, while in Mexico, the GDP per capita is $17,900 as of 2020.