Capital Markets in Chile
Author: Rodrigo Cifuentes
Publisher:
Published: 2002
Total Pages: 60
ISBN-13:
DOWNLOAD EBOOKPosts
Stock Market Liquidity in Chile
Author: Mr.Luis Brandao-Marques
Publisher: International Monetary Fund
Published: 2016-11-16
Total Pages: 29
ISBN-13: 1475554656
DOWNLOAD EBOOKChile has a large but relatively illiquid stock market. Global factors such as global risk appetite and monetary policy in advanced economies are key cyclical determinants of liquidity in Chilean equities. Evidence from a cross-section of emerging markets suggests strong protection of minority shareholders can help improve stock market liquitidity. Currently, illiquid in Chilean may have to pay 31⁄2 percent more as cost of equity. Corporate governance should be improved, namely through the adoption of a stewardship code.
Chile: Financial System Stability Assessment
Author: International Monetary
Publisher: International Monetary Fund
Published: 2021-12-09
Total Pages: 111
ISBN-13: 1616356952
DOWNLOAD EBOOKThe financial system in Chile functions well overall within a sound regulatory framework. It features large and deep financial markets in a sector dominated by conglomerates, six systemic banks, and pension funds. The twin shocks of social unrest in late 2019 and COVID-19 were adeptly managed thanks to massive and well-coordinated supervisory and fiscal policy responses, as well as unprecedented liquidity support from the Central Bank of Chile (BCCh). Banks have remained profitable through the crisis, partially supported by central bank financing and government-guaranteed SME lending. The funded pension system that has been instrumental in market deepening is under threat due in part to a series of withdrawals. Congress has also authorized life annuity liquidations. A major reorganization of the financial regulatory authorities has been finalized, and Basel III will be implemented starting in December 2021.
Capital Markets and Aggregate Factors in the Chilean Economy
Author: Marco Morales
Publisher:
Published: 2007
Total Pages: 188
ISBN-13: 9781109851618
DOWNLOAD EBOOKThe second chapter estimates the internal rate of return paid on annuities based on a stylized model of the demand and supply for annuities. The data used in this analysis are company-level. During the 1990s, illegal provision of cash rebates to annuitants played an important role in determining annuity demand. Thereafter, the rate of return on annuities became a more important factor in the market for annuities.
Emerging Capital Markets and Globalization
Author: Augusto de la Torre
Publisher: World Bank Publications
Published: 2006-10-20
Total Pages: 232
ISBN-13: 0821365444
DOWNLOAD EBOOKBack in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Latin American Local Capital Markets: Challenges and Solutions
Author: Mauro Miranda
Publisher: CFA Institute Research Foundation
Published: 2018-06-15
Total Pages: 137
ISBN-13: 194496049X
DOWNLOAD EBOOKCapital markets, both for debt and equity securities, have allowed firms to secure funding for productive uses while providing investors with opportunities for portfolio diversification. The importance of capital markets for the development of economies and for the betterment of society cannot be overstated. This is just as true in emerging economies with free markets, such as those found in Latin America, as it is in developed markets. However, capital markets in the region are not being utilized to the fullest. The idea behind this collection of articles is to offer a primer on the development of local capital markets in several select countries in Latin America. We discuss not only their history and current status but also their future. To this end, seven authors contributed to this project, each writing about one of seven countries: Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Uruguay. Each author decided which issues they believe matter most to the progress of their local capital markets. Some authors chose a qualitative and institutional description of local markets, whereas others adopted a more quantitative approach.
Managing Capital Flows
Author: Mr.Jaime Cardoso
Publisher: International Monetary Fund
Published: 1998-12-01
Total Pages: 53
ISBN-13: 145185823X
DOWNLOAD EBOOKAs a result of the Asian crisis, methods of coping with volatile international capital markets have received considerable attention from observers and policymakers. It has been argued that the imposition by Chile of a nonremunerated reserve requirement on external borrowing played a useful role in the smooth liberalization of its capital account by allowing Chile to deal effectively with short-term capital inflows and thus to reduce its vulnerability to external shocks, and that such measures should be adopted by other countries. In light of this, this paper reviews Chile’s experience in managing capital flows and draws lessons for policymakers.
Capital Markets in Chile
Author: Rodrigo Cifuentes
Publisher:
Published: 2002
Total Pages: 27
ISBN-13:
DOWNLOAD EBOOKChile
Author: Mr.Eliot Kalter
Publisher: International Monetary Fund
Published: 2004-06-28
Total Pages: 100
ISBN-13:
DOWNLOAD EBOOKThis publication discusses the institutional factors and economic policies adopted in Chile over the last two decades, which have resulted in a period of national financial stability and economic growth during a difficult period for many other countries in the region. Issues discussed include: the political and constitutional framework, the role of institutions in price stability, trade policy and fiscal discipline, Chile's macroeconomic policy; capital markets and corporate financing; recent developments in the banking system, external trade relations and debt sustainability, public sector finances, and export specialisation.
Chile: Technical Assistance Report-Regulation and Supervision of Money Market Funds
Author: International Monetary
Publisher: International Monetary Fund
Published: 2022-06-14
Total Pages: 28
ISBN-13:
DOWNLOAD EBOOKIn September 2020 the CMF requested TA from the IMF in respect of a review of its regulatory regime for money market mutual funds. Between October 2020 and February 2021, organizational and preparatory work was undertaken by the mission team. This assessment relies on the information submitted by the CMF and other parties interviewed. While the mission did not include a review of supervisory case files, the descriptions of the current approach provided by the regulator, the central bank and industry are mutually consistent as between each other.
