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Economies of Scale and Merger Efficiencies: Empirical Evidence from the Chilean Pension Funds Market
(Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2012)
Over the last twenty years there has been a deep concentration process in the Pension Fund Manager (AFPs) industry in Chile (from 21 firms in 1994 to only 6 in 2012). A major concern with the concentration of this industry ...