Macroeconomic Stability and Investment Allocation of Domestic Pension Funds in Emerging Economies: The Case of Chile

  • Roberto Zahler


Growth has been frustratingly slow in Latin America, notwithstanding a decade and a half of rather intense reforms (Ocampo, 2005). In this period, growth of the region has diverged from that of the major economy of the world and has moved slower than the world average (Ffrench-Davis, 2005). The macroeconomic environment has been one crucial variable underlying both a low capital formation and great instability of economic activity.


Interest Rate Real Exchange Rate Mutual Fund Risk Premium Institutional Investor 
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© Economic Commission for Latin America and the Caribbean 2006

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  • Roberto Zahler

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