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Regulating private pension funds'structure, performance, and investments : cross-country evidence

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  • Srinivas, P.S.
  • Whitehouse, Edward
  • Yermo, Juan

Abstract

Because defined-contribution systems expose pensions to a number of risks, reforming governments have often strictly regulated the pension fund industry's structure, performance, and investments. This paper compares the rules in the new systems of Latin America and Eastern Europe with richer OECD countries. The authors argue that the benefits of competing pension funds and individual choice can only be achieved if regulations are loosened in the medium term.

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Bibliographic Info

Paper provided by The World Bank in its series Social Protection Discussion Papers with number 23302.

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Date of creation: 31 Jul 2000
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Handle: RePEc:wbk:hdnspu:23302

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Keywords: Pensions&Retirement Systems; Non Bank Financial Institutions; Insurance&Risk Mitigation; Banks&Banking Reform; Environmental Economics&Policies;

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References

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Citations

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Cited by:
  1. Darlene Himick, 2009. "Accounting and Chilean pension reform," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, Emerald Group Publishing, vol. 22(3), pages 405-428, April.
  2. Diego Jara, . "Modelo de la Regulación de las AFP en Colombia y su Impacto en el Portafolio de los Fondos de Pensiones," Borradores de Economia, Banco de la Republica de Colombia 416, Banco de la Republica de Colombia.
  3. Pereda Javier, 2007. "Estimación de la Frontera Eficiente para las AFP en el Perú y el Impacto de los Límites de Inversión: 1995-2004," Working Papers, Banco Central de Reserva del Perú 2007-009, Banco Central de Reserva del Perú.
  4. Diego Jara, 2006. "Modelo de la regulación de las AFP en Colombia y su impacto en el portafolio de los fondos de pensiones," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, BANCO DE LA REPÚBLICA - ESPE.
  5. Senderski, Marcin, 2014. "Assessing the strictness of portfolio-related regulation of pension funds: Rethinking the definition of prudent," MPRA Paper 56610, University Library of Munich, Germany.
  6. Jorge Roldos, 2007. "Pension Reform and Macroeconomic Stability in Latin America," IMF Working Papers, International Monetary Fund 07/108, International Monetary Fund.
  7. Dayoub, Mariam & Lasagabaster, Esperanza, 2008. "General trends in competition policy and investment regulation in mandatory defined contribution markets in Latin America," Policy Research Working Paper Series, The World Bank 4720, The World Bank.
  8. Pablo Castañeda, 2007. "Long Term Risk Assessment in a Defined Contribution Pension System," Working Papers, Superintendencia de Pensiones 20, Superintendencia de Pensiones, revised Oct 2007.
  9. Luciano Greco, 2005. "The Optimal Design of Funded Pension Plans: Unbundling Financing and Investment," "Marco Fanno" Working Papers, Dipartimento di Scienze Economiche "Marco Fanno" 0003, Dipartimento di Scienze Economiche "Marco Fanno".
  10. Mosolygó, Zsuzsa, 2010. "A tőkefedezeti rendszer alapkérdéseinek új megközelítése
    [A new approach to the basic issues raised by the PAYE system]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 612-633.
  11. Boon, Ling-Ni & Brière, Marie & Gresse, Carole & Werker, Bas J. M., 2013. "Regulatory Environment and Pension Investment Performance," Economics Papers from University Paris Dauphine, Paris Dauphine University 123456789/13629, Paris Dauphine University.

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