Liberalizing Foreign Investments by Pension Funds: Positive and Normative Aspects

World Development

Volumn 25, Issue 7, 1997, Pages 1173-1182

  Reisen, Helmut ^a  

^a OECD   (France)

Author keywords

[No Author keywords available]

Indexed keywords

DEVELOPING COUNTRY; INVESTMENT REGULATION; PENSION FUNDS; PORTFOLIO INVESTMENT;

EID: 0031429412     PISSN: 0305750X     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0305-750X(97)00014-4     Document Type: Article

References (27)

1. Aizenman, Joshua and Guidotti, Pablo E. (1994) Capital controls, collection costs and domestic public debt. Journal of International Money and Finance 13(1), 41-54.
2. Arrau, Patricio (1992) El nuevo regimen previsional Chilena y su financimento durante la transicion. In Coleccion Estudios CIEPLAN, Vol. 32.
3. Corsetti, Giancarlo and Schmidt-Hebbel, Klaus (1996) Pension reform and growth. In Pensions: Funding, Privatization and Macroeconomic Policy. S. Valdés-Prieto. Cambridge University Press, Cambridge.
4. Davis, Philip (1995) Pension Funds: Retirement-Income Security and Capital Markets. An International Perspective. Clarendon Press, Oxford.
5. Demirgüç-Kunt, Asli and Levine, Ross (1996) Stock market development and financial intermediaries: Stylized facts. The World Bank Economic Review 10(2), 291-321.
6. Diamond, Peter and Valdés-Prieto, Salvador (1994) Social security reform. In The Chilean Economy: Policy Lessons and Challenges, ed. B. Bosworth, R. Dornbusch and R. Laban. The Brookings Institution, Washington, DC.
7. Dooley, Michael P. (1995) A Survey of Academic Literature on Controls Over International Capital Transactions, NBER Working Paper No. 5352.
8. Folkerts-Landau, David and Ito, Takatoshi (1995) International Capital Markets: Developments, Prospects and Policy Issues. International Monetary Fund, Washington, DC.
9. Fontaine, Juan A. (1994) External investments by pension funds: Consequences for macroeconomic policy. Paper presented to the conference Pensions: Funding, Privatization and and Macroeconomic Policy, mimeo, Santiago de Chile.
10. De Gregorio, Jose and Guidotti, Pablo E. (1995) Financial development and economic growth. World Development 23(3), 433-448.
11. Hausmann, Ricardo and Gavin, Michael (1996) Stability and growth in a shock-prone region. In Securing Stability in Latin America, ed. R. Hausmann and H. Reisen. OECD Development Centre, Paris.
12. International Finance Corporation (1996) Emerging Stock Market Factbook. IFC, Washington DC.
13. Jackson, Susan (1995) Chile's vaunted private pension system has big problems, Business Week.
14. Kenen, Peter (1993) Financial opening and the exchange rate regime. In Financial Opening: Policy Issues and Experiences in Developing Countries, ed. H. Reisen and B. Fischer. OECD Development Centre, Paris.
15. King, Robert G. and Levine, Ross (1992) Financial Indicators and Growth in a Cross Section of Countries. Policy Research Working Papers WPS 819. The World Bank, Washington, DC.
16. King, Robert G. and Levine, Ross (1993) Finance and growth: Schumpeter might be right. Quarterly Journal of Economics 108(3), 717-738.
17. Kotlikoff, Laurence J. (1994) A Critical Review of Social Insurance Analysis by Multilateral Lending Institutions. Revista de Analysis Economico 9(1), 127-150.
18. Levine, Ross and Zervos, Sara (1996) Stock market development and long-run growth. The World Bank Economic Review 10(2), 323-339.
19. Lewis, Karen K. (1994) Puzzles in international financial markets. NBER Working Paper Series, No. 4951, National Bureau of Economic Research, Cambridge, MA.
20. Reisen, Helmut (1994) On the wealth of nations and retirees. In Finance and the International Economy: 8, ed. R. O'Brien. The Amex Bank Review Prize Essays. Oxford University Press, Oxford.
21. Reisen, Helmut and Williamson, John (1994) Pension funds, capital controls and macroeconomic stability. OECD Development Centre Technical Papers No. 98.
22. Rojas-Suarez, Weisbrod, Liliana and Weisbrod, Steve (1996) Building stability in Latin American financial markets. In Securing Stability, in Latin America, ed. R. Hausmann and H. Reisen. OECD Development Center, Paris.
23. Schmidt-Hebbel (1995) Colombia's pension reform: Fiscal and macroeconomic effects, World Bank Discussion Papers, 314. The World Bank, Washington, DC.
24. Solnik, Bruno (1988) International Investments. Addison-Wesley, Reading, MA.
25. Vittas, Dimitri (1995), Pension Funds and Capital Markets, Mimeo. The World Bank, Washington, DC.
26. World Bank (1994), Averting the Old Age Crisis. Oxford University Press for the World Bank, Oxford.
27. Williamson, John (1993) A cost-benefit analysis of capital account liberalization. In Financial Opening: Policy Issues and Experiences in Developing Countries, ed. H. Reisen and B. Fischer. OECD Development Center, Paris.