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The global growth of mutual funds

Author

Listed:
  • Fernando, Deepthi
  • Klapper, Leora
  • Sulla, Victor
  • Vittas, Dimitri

Abstract

With few exceptions, mainly in Asia, mutual funds grew explosively in most countries around the world during the 1990s. Equity funds predominated in Anglo-American countries while bond funds predominated in most of Continental Europe, and in middle-income countries. Capital market development (reflecting investor confidence in market integrity, liquidity, and efficiency) and financial system orientation were the main determinants of mutual fund growth. Restrictions on competing products acted as a catalyst for the development of money market and (short-term) bond funds.

Suggested Citation

  • Fernando, Deepthi & Klapper, Leora & Sulla, Victor & Vittas, Dimitri, 2003. "The global growth of mutual funds," Policy Research Working Paper Series 3055, The World Bank.
    • Handle: RePEc:wbk:wbrwps:3055
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    References listed on IDEAS

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    Cited by:

    1. Ersin Acikgoz & Hasan Uygurturk & Turhan Korkmaz, 2015. "Analysis of Factors Affecting Growth of Pension Mutual Funds in Turkey," International Journal of Economics and Financial Issues, Econjournals, vol. 5(2), pages 427-433.
    2. Witmer, Jonathan, 2016. "Does the buck stop here? A comparison of withdrawals from money market mutual funds with floating and constant share prices," Journal of Banking & Finance, Elsevier, vol. 66(C), pages 126-142.
    3. Dimitri Vittas, 2003. "The use of"asset swaps"by institutional investors in South Africa," Policy Research Working Paper Series 3175, The World Bank.

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