o-liberal model Figure 62: MSCI Chile — P/BV (x) since 2000 x 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 x 10 15 20 25 30 35 40 45 50 0 5 MSCI Chile P/BV Average P/BV Source: Deutsche Bank, Bloomberg Finance LP -2 s.d. + 1 s.d. -1 s.d. + 2 s.d. MSCI P/E Source: Deutsche Bank, Bloomberg Finance