Kleptocracy, A Growing Danger
Chile provides an interesting case study of how countries are attempting to combat kleptocracy. It has historically featured regulatory stability, effective application of rule of law, and separation of powers. All of these are proven ways to stop or limit corrosive capital. Likewise, Chile’s SOEs are largely well-managed and follow international best practices in most respects. Nevertheless, recent financial scandals in the country, such as the Mexstone case, demonstrate how both internal and external actors can take advantage of existing deficiencies in legal frameworks.
Published Date: March 14, 2023