How efficient are pension fund managers in Chile?

Revista de Economia Contemporânea

Armando Barrientos²  Aziz Boussofiane¹ 

[1] ,University of Manchester Institute for Development Policy and Management

关键词: pension reform;    pension fund managers;    efficiency;    competition;    regulation;    reforma da previdência;    administradores de fundos de pensão;    eficiência;    competitividade;    regulamentação;   

DOI  :  10.1590/S1415-98482005000200003

来源: SciELO

【 摘 要 】

The paper measures and evaluates technical efficiency among pension fund managers in Chile. Recent pension reform has established pension fund management market in nine countries in Latin America. The new pension providers compete for affiliates on the basis of fees, rates of return, and quality of service, and are subject to extensive regulation. Applying data envelopment analysis to data from Chile 1982-1999, the paper examines issues of efficiency, competition, and regulation. The analysis concludes that pension fund managers operate below the estimated "efficiency frontier", and there is no evidence of a sustained upward trend in technical efficiency over time.

【 授权许可】

CC BY   
 All the contents of this journal, except where otherwise noted, is licensed under a Creative Commons Attribution License