01733cas a2200241 a 4500 AALejournalIMF010550 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451947243 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers : Volume 44 No. 2. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (156 pages) IMF Staff Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Chilean pension reform of 1981, a shift from cm unfunded to a funded scheme, is considered to have contributed to this country's excellent economic performance. Positive growth effects allow, in principle, a Pareto-improving shift in pension financing. This paper highlights the theoretical underpinnings of the reform and presents empirical data and preliminary econometric testing of the conjectured reform effects on financial market developments, as well as the impact on total factor productivity. capital formation, and private saving. The empirical evidence is consistent with most but not all claims. In particular, the direct impact of the reform on saving was low, and initially even negative. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1997/002 Full text available on IMF http://elibrary.imf.org/view/journals/024/1997/002/024.1997.issue-002-en.xml IMF e-Library