“…From a relative standpoint, the rise of Chile's stock of inward FDI is even more impressive, increasing from 58.8 percent of GDP in 2000 to 72 percent of GDP in 2010--by far, the highest share of any major country of the region, including Argentina, Brazil, Colombia, Mexico, Peru, and Venezuela (see ECLAC, 2007;and UNCTAD, 2016). In addition to the direct effects associated with a greater stock of FDI, several investigators argue that there are indirect positive spillover effects on overall efficiency that arise from enhanced competition generated by foreign firms, the transfer of needed technology and managerial knowhow to local firms, and trade-induced learning-by-doing effects as local firms attempt to overcome competition in the global market (see Armedariz and Larrain, 2017;Cypher, 2014;De Mello Jr., 1997;Ram & Zhang, 2002;and Vadlamannati and Tamazian, 2009). …”