Page 92 - Invited Paper Session (IPS) - Volume 2

IPS184 Ivette F. et al.
- Rest of the world: Data from the Balance of Payments and the
International Investment Position from the Central Bank of Chile.
Additionally, other information sources are used directly from relevant
agents in the securities market such as the Government or non-resident
entities. In the last case, commercial banks that act as custodians of foreign
investors report aggregate investments of these investors. Likewise, the
securities custody information provided by the Central Securities Depository
allows to reconcile the information of investment portfolios reported by
pension funds, insurance companies, mutual funds and investment, among
others.

3. Results
In Chile, the NA-IS provides an overview of the national economy by financial
instruments and institutional sectors. The financial balance is influenced by the
net lending position of the Households, in contrast with the rest of the sectors
that present a net borrowing position (chart 1). Likewise, the balance sheet for
financial instruments shows the importance of shares and other equity, and
loans in net terms (chart 2).

Chart 1-2. Net Financial Assets by institutional sectors and financial instruments
(percentage of annual GDP)

Source: Author’s elaboration based on NA-IS data.
To know how the different sectors are related for some financial
instruments, the “risk or network maps” are shown to visualize the
relationships between these sectors and to compare results . In deposits,
6
Deposit-taking corporations increase the net stock and their interlinkages with
other sectors between 2003 and 2018. Otherwise, the Rest of the world
decreases both variables.

6 The risk or network maps are drawn with Pajek software.
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