Exportaciones mineras y desarrollo sustentable en Chile: Una visión de largo plazo (1850 – 2020)

Traditional economic growth measures have not taken into account the negative externalities of productive activities. In this context, the so-called natural resource curse should be redefined beyond positive, negative, slow or fast growth rates. This article, using the case of Chile as a reference, estimates the effect of mining exports on two fundamental indicators of economic development: the formation of human capital and investment in productive infrastructure, either through investment in non-residential construction or of machinery and equipment. Using a time series analysis, it is analysed whether mineral export trends were re-invested in physical and human capital. The results of this exercise show that Chile used its mining income mainly in consumption and repayment of investments abroad, mortgaging its sustainable development.