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Pension Funds and Emerging Markets

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  • Jorge A. Chan‐Lau

Abstract

This paper focuses on the investment behavior of pension funds in developed and emerging market countries. First, it analyzes the main determinants of the emerging market asset allocation of pension funds in developed countries. Second, it assesses how pension funds in emerging markets have contributed to the development of local securities markets. Third, it analyzes the determinants of pension funds’ investment performance. The paper concludes with a discussion of why the emerging market asset allocation of pension funds in developed countries is likely to increase and what the challenges faced by pension funds in emerging markets are.

Suggested Citation

  • Jorge A. Chan‐Lau, 2005. "Pension Funds and Emerging Markets," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 14(3), pages 107-134, August.
    • Handle: RePEc:wly:finmar:v:14:y:2005:i:3:p:107-134
    DOI: 10.1111/j.0963-8008.2005.00081.x
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    References listed on IDEAS

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    3. Blake, David & Lehmann, Bruce N & Timmermann, Allan, 1999. "Asset Allocation Dynamics and Pension Fund Performance," The Journal of Business, University of Chicago Press, vol. 72(4), pages 429-461, October.
    4. Rother, P.C. & Catenaro, M. & Schwab, G., 2003. "Ageing and pensions in the Euro Area Survey and projection results," Social Protection Discussion Papers and Notes 25986, The World Bank.
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    6. Holzmann, Robert & Mac Arthur, Ian W. & Sin, Yvonne, 2000. "Pension systems in East Asia and the Pacific : challenges and opportunities," Social Protection Discussion Papers and Notes 23088, The World Bank.
    7. Helmut Reisen, 2000. "Pensions, Savings and Capital Flows," Books, Edward Elgar Publishing, number 2017.
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