Stock Market Liquidity in Chile

Chile 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 share...

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Bibliographic Details
Main Author: Brandão-Marques, Luis
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2016
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Stock Market Liquidity in Chile  |c Luis Brandão-Marques 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2016 
300 |a 29 pages 
651 4 |a Chile 
653 |a Institutional Investors 
653 |a Stock exchanges 
653 |a Stocks 
653 |a Pension Funds 
653 |a Finance 
653 |a Corporate Finance and Governance: Government Policy and Regulation 
653 |a Financial institutions 
653 |a Financial Instruments 
653 |a General Financial Markets: General (includes Measurement and Data) 
653 |a Asset and liability management 
653 |a Economic sectors 
653 |a Liquidity 
653 |a Liquidity; Economics 
653 |a International Financial Markets 
653 |a Corporate governance; role & responsibilities of boards & directors 
653 |a Non-bank Financial Institutions 
653 |a Financial markets 
653 |a Stock markets 
653 |a Investments: Stocks 
653 |a Corporate Governance 
653 |a Liquidity indicators 
653 |a Investment & securities 
653 |a Liquidity management 
653 |a Corporate governance 
653 |a Finance: General 
653 |a Portfolio Choice 
653 |a Investment Decisions 
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520 |a Chile 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 3½ percent more as cost of equity. Corporate governance should be improved, namely through the adoption of a stewardship code