Hedging in derivatives markets: the experience of Chile

Prior to the onset of the 2008 financial crisis, domestic FX derivatives markets in Chile had gained depth and liquidity, boosted by the growing hedging needs of private pension funds. During the crisis, Chile suffered significantly less stress than other EMEs, within Latin America and outside. We present evidence suggesting that this was related to the liquidity and resilience of its FX derivatives markets.

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Year of publication:	2013
Authors:	Avalos, Fernando ; Moreno, Ramon
Published in:	BIS Quarterly Review. - Bank for International Settlements (BIS). - 2013, March
Publisher:	Bank for International Settlements (BIS)

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Extent:	application/pdf text/html
Type of publication:	Article
Classification:	E44 - Financial Markets and the Macroeconomy ; F31 - Foreign Exchange ; G23 - Pension Funds; Other Private Financial Institutions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010630747