Multiple streams framework and mineral royalties: The 2005 mining tax reform in Chile
Emilio Castillo and Payne Institute Faculty Fellow Kathleen Hancock write about how in economic theories, institutional change usually occurs in response to changes in relative prices. Mineral policies in mining countries frequently follow this behavior, modifying their tax systems as metal prices change. Nonetheless, Chile presents a deviation from common behavior with a mining tax reform that took place before a major increase in mineral commodity prices and when market analysts and political leaders expected prices to remain relatively constant. April 23, 2022.