1 “...This study focuses on equity, private debt, and asset-backed securities markets in Central America...”

2 “... traded securities or secondary market prices are unreliable because of low liquidity...”

3 “... the prices of publicly traded securities. These techniques are useful for assessing credit exposure, systemic...”

4 “... to the development of local securities markets. Third, it analyzes the determinants of pension funds' investment...”

5 “... by financial securities prices. Using equity prices and balance-sheet data, we calculate the END to assess...”