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Pensions, Savings and Capital Flows

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Pensions, Savings and Capital Flows

From Ageing to Emerging Markets

9781840643084 Edward Elgar Publishing
Helmut Reisen, Head of Research Division, OECD Development Centre, France and Professor of Economics, University of Basel, Switzerland
Publication Date: 2000 ISBN: 978 1 84064 308 4 Extent: 288 pp
This book explores the international aspects of pension reform, private savings and volatile capital markets and clarifies how they relate to each other. Building the case for the pension-improving benefits of global asset diversification, analysing the implications of financial reform for stimulating savings, and exploring both the benefits and risks of global capital flows to emerging markets, Pensions, Savings and Capital Flows will inform policy and academic debates on financial globalization.

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This book explores the international aspects of pension reform, private savings and volatile capital markets and clarifies how they relate to each other. Building the case for the pension-improving benefits of global asset diversification, analysing the implications of financial reform for stimulating savings, and exploring both the benefits and risks of global capital flows to emerging markets. Pensions, Savings and Capital Flows will inform policy and academic debates on financial globalization.
Critical Acclaim
‘In this book, Helmut Reisen. . . addresses some of the major policy challenges of the day: ageing populations, the promotion of savings, and volatile capital markets. By clarifying how these challenges relate to each other, this book will usefully inform policy and academic debates on financial globalization. . . . Pensions, Savings and Capital Flows is original in highlighting the links between pension pressures, saving, and global capital flows. The essays are highly readable and well argued. Not least, they are documented with rich empirical evidence and a superb bibliography. . .’
– Robert Holzmann, Finance & Development

‘An up-to-date and exhaustive study of international capital flows, what they do and why they occasionally misbehave, along with a superb bibliography and an analysis of the recent crises. Undoubtedly the reference text on the topic.’
– Charles Wyplosz, Graduate Institute of International Studies, Geneva, Switzerland

‘This book is one of the most up-to-date discussions of the critical issue of the day: the role of financial markets in our daily and worldly life. From an in-depth review of the causes and consequences of pension funds to the analysis of the Asian crisis, the book is a must.’
– Daniel Cohen, Université de Paris 1 Panthéon-Sorbonne, France

‘Helmut Reisen combines great analytical rigour and in-depth empirical knowledge to illuminate the increasingly important and complex links between pensions, savings and capital flows to emerging markets. Essential reading for specialists and students.’
– Stephany Griffith-Jones, University of Sussex, UK
Contents
Contents: Preface Part I: Pension Investment 1. Pension Fund Investment 2. Pension Funds, Capital Controls and Macroeconomic Stability 3. Liberalizing Foreign Investments by Pension Funds 4. The Economics of Global Pension Flows Part II: Savings 5. Developing-country Savings and the Global Capital Shortage 6. Promoting Savings in Latin America 7. Do Funded Pensions Contribute to Higher Aggregate Savings? 8. The Limits of Foreign Savings Part III: Capital Flows 9. Managing Volatile Capital Inflows 10. Emerging-market Risk and Sovereign Credit Ratings 11. Domestic Causes of Currency Crises 12. After the Great Asian Slump Index
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