Felipe Larraín Bascuñán

"The public is not aware that to compete globally is one of the important things you have to do," said Moderator Felipe Larraín Bascuñán, Professor of Economics, Catholic University of Chile.

Felipe Larraín Bascuñán, Professor of Economics, University Católica, Chile

• Felipe Larraín Bascuñán, Professor of Economics, Catholic University of Chile, Chile

"The biggest problem we have identified is institutional weakness," said Felipe Larraín Bascuñán, Professor of Economics at the Universidad Católica, Chile.

"The biggest problem we have identified is institutional weakness," said Felipe Larraín Bascuñán, Professor of Economics at the Universidad Católica, Chile."There are problems with civil service, with too many jobs that change with each government.In the justice system disputes take too long to be resolve."

Disappointments from the market reforms, a common theme at the Latin America Business Summit, may be explained by timing, Larraín said."Results from reforms can take time: Chile and Mexico were the first (economic) reformers.Chile and Mexico are now the best economic performers in the region."