During its 17 years in power, Chile moved away from economic statism toward a largely free market economy that fostered an increase in domestic and foreign private investment. The complete political liberalization of the country came in 1988, when the Constitution established that Chilean citizens would ratify or not the continuity of the military government through a plebiscite, which finally took place on October 5. On that day, the triumph of the "No" option, which obtained 55.99% of the votes, against 44.01% for the "Yes" option. General Pinochet was denied a second 8-year term as president. Chileans voted for elections to choose a new president in 1989 and the majority of members of a two-chamber congress. The Constitution was amended to ease provisions for future amendments to the Constitution on the same year. | During its 17 years in power, Chile moved away from economic statism toward a largely free market economy that fostered an increase in domestic and foreign private investment. The complete political liberalization of the country came in 1988, when the Constitution established that Chilean citizens would ratify or not the continuity of the military government through a plebiscite, which finally took place on October 5. On that day, the triumph of the "No" option, which obtained 55.99% of the votes, against 44.01% for the "Yes" option. General Pinochet was denied a second 8-year term as president. Chileans voted for elections to choose a new president in 1989 and the majority of members of a two-chamber congress. The Constitution was amended to ease provisions for future amendments to the Constitution on the same year. |