Pension Funds and Emerging Markets
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.
|Date of creation:||01 Sep 2004|
|Date of revision:|
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- David Blake, 1999. "Portfolio Choice Models of Pension Funds and Life Assurance Companies: Similarities and Differences," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 24(3), pages 327-357, July.
- Holzmann, Robert & Mac Arthur, Ian W. & Sin, Yvonne, 2000. "Pension systems in East Asia and the Pacific : challenges and opportunities," Social Protection and Labor Policy and Technical Notes 23088, The World Bank.
- Philipp C. Rother & Marco Catenaro & Gerhard Schwab, 2004.
"Aging and Pensions in the Euro Area,"
FinanzArchiv: Public Finance Analysis,
Mohr Siebeck, Tübingen, vol. 60(4), pages 593-, December.
- Alfredo Cuevas & George A. Mackenzie & Philip R. Gerson, 1997. "Pension Regimes and Saving," IMF Occasional Papers 153, International Monetary Fund.
- Brown, Stephen J. & Warner, Jerold B., 1985. "Using daily stock returns : The case of event studies," Journal of Financial Economics, Elsevier, vol. 14(1), pages 3-31, March.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03.
- Bodie, Zvi & Merton, Robert C., 2002. "International pension swaps," Journal of Pension Economics and Finance, Cambridge University Press, vol. 1(01), pages 77-83, March.
- Rother, P.C. & Catenaro, M. & Schwab, G., 2003. "Ageing and pensions in the Euro Area Survey and projection results," Social Protection and Labor Policy and Technical Notes 25986, The World Bank.
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