IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

A Balance of Pension Fund Infrastructure Investments: The Experience in Latin America

  • Javier Alonso
  • Jasmina Bjeletic
  • Carlos Herrera
  • Soledad Hormazabal
  • Ivonne Ordonez
  • Carolina Romero
  • David Tuesta

The purpose of this study is to create a detailed account of what Latin American pension funds have meant to the financing of infrastructures, with the purpose of serving as a basis for reflection regarding potential improvements to optimize the portfolios of pension funds and accomplish a greater contribution of retirement savings to the evelopment of countries. The involvement of pension funds in infrastructure is a recommended strategy for managed portfolios based on the criteria establishing that they should be an attractive investment for future pensions, and thus must reach an adequate balance between return and risk. Likewise, given the importance of infrastructure in development, we see that a more significant involvement of pension funds also constitutes a desirable goal because it implies not only greater private benefits for owners of retirement savings (affiliates), but also for society as a whole. In order to perform a complete analysis, we study the evolution and traditional forms of participation in the financing of infrastructure, identifying strengths as well as weaknesses to be corrected. Existing processes are also described, which have assisted to a greater or lesser extent in the involvement of the private sector through concession laws in these countries. Finally, we discuss the different tools that the current systems depend on which allow the involvement of pension funds, as well as how these processes have been carried out up to this moment and the opportunities foreseen.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.bbvaresearch.com/wp-content/uploads/migrados/WP_1003_tcm348-215241.pdf
Download Restriction: no

Paper provided by BBVA Bank, Economic Research Department in its series Working Papers with number 1003.

as
in new window

Length: 241
Date of creation: Feb 2010
Date of revision:
Handle: RePEc:bbv:wpaper:1003
Contact details of provider: Web page: https://www.bbvaresearch.com/

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Clive Harris, 2003. "Private Participation in Infrastructure in Developing Countries : Trends, Impacts, and Policy Lessons," World Bank Publications, The World Bank, number 15124, June.
  2. Marianne Fay & Danny Leipziger & Quentin Wodon & Tito Yepes, 2003. "Achieving the Millennium Development Goals : The role of infrastructure," Policy Research Working Paper Series 3163, The World Bank.
  3. Christophe Kamps, 2004. "The Dynamic Effects of Public Capital: VAR Evidence for 22 OECD Countries," Kiel Working Papers 1224, Kiel Institute for the World Economy.
  4. Cavalcanti Ferreira, Pedro, 1999. "Inflationary financing of public investment and economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 23(4), pages 539-563, February.
  5. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2006. "Renegotiation without Holdup: Anticipating Spending and Infrastructure Concessions," Cowles Foundation Discussion Papers 1567, Cowles Foundation for Research in Economics, Yale University.
  6. Carlos Pombo & Manuel Ramírez, 2003. "Privatization in Colombia: A Plant Performance Analysis," Research Department Publications 3151, Inter-American Development Bank, Research Department.
  7. Israel Fainboim Yaker & Carlos Jorge Rodríguez & Juan Benavides & Julio César Alonso, 2001. "Participación Privada en Proyectos de Infraestructura y Determinantes de los Esquemas Contractuales Adoptados: El Caso Colombiano," IDB Publications (Working Papers) 7615, Inter-American Development Bank.
  8. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2000. "Franchising of infrastructure concessions in Chile: A Policy Report," Documentos de Trabajo 88, Centro de Economía Aplicada, Universidad de Chile.
  9. Javier Alonso & David Tuesta & Jasmina Bjeletic & Carlos Herrera & Soledad Hormazabal & Ivonne Ordonez & Carolina Romero, 2009. "Proyecciones del impacto de los fondos de pensiones en la inversion en infraestructura y el crecimiento en Latinoamerica," Working Papers 0921, BBVA Bank, Economic Research Department.
  10. Antonio Estache & Juan Manuel Campos & Nadine Martin & Lourdes Trujillo, 2003. "Macroeconomic Effects of Private Sector Participation in Infrastructure," ULB Institutional Repository 2013/44067, ULB -- Universite Libre de Bruxelles.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:bbv:wpaper:1003. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ANGIE CAROLINA SUAREZ SALAZAR)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.