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World Bank Research and Development Center in Chile


The World Bank Research and Development Center in Chile was established by the Government of Chile and the World Bank Development Economics Vice Presidency in 2017. Following the new agreement signed on October 19, 2018, the Center is fully devoted to financial sector work.

The Center promotes and conducts research related to financial development relevant to Chile and other countries. The goal is to generate and disseminate knowledge that will inform policy makers, practitioners, and the academic community, with the idea that the financial sector can foster growth across the economy for a more prosperous and equitable society.


  • Calomiris, Charles, Larrain, Mauricio, and Schmukler, Sergio, 2018. “Capital Inflows, Equity Issuance Activity, and Corporate Investment,” NBER Working Paper 24433 and World Bank Policy Research Working Paper 8405. Forthcoming in the Journal of Financial Intermediation.
  • Schmukler, Sergio, Tessada, Jose, Vasquez, Cristian, and Vera, Mario, 2018. “Winners and Losers from Interest Rate Ceilings: Quasi-experimental Evidence from Chile,” mimeo.
  • Calomiris, Charles, Larrain, Mauricio, Schmukler, Sergio, Williams, Tomas, 2019. "Search for Yield in Large International Corporate Bonds: Investor Behavior and Firm Responses," NBER Working Paper 25979 and World Bank Policy Research Working Paper 8890.

Research & Policy Briefs

Conferences and Workshops




Sergio Schmukler

Lead Economist