X

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
  • 1
    Online Resource
    Online Resource
    Pension Funds, Capital Markets, and the Power of Diversification (2017)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV048269729
    Format: 1 Online-Ressource (27 p)
    Series Statement: World Bank E-Library Archive
    Content: The potential for pension funds to contribute to capital markets and thereby economic growth has been argued on a theoretical basis and demonstrated empirically. However, reforms fostering the development of funded pension systems have not had the economic impact hoped for in some countries. Pension fund portfolios in some cases have remained highly exposed to shorter-term assets, such as bank deposits and shorter-term government bonds. This, in turn, has led to relatively low investment returns, thereby potentially affecting income adequacy in retirement. This paper looks at the potential regulatory hurdles to long-term investment by pension funds, while also proposing international diversification and the creation of domestic investment opportunities to help portfolio diversification and ultimately improve the delivery of secure, adequate pensions
    Additional Edition: Erscheint auch als Druck-Ausgabe Stewart, Fiona Pension Funds, Capital Markets, and the Power of Diversification Washington, D.C : The World Bank, 2017
    Language: English
    DOI: 10.1596/1813-9450-8136
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 2
    Online Resource
    Online Resource
    Proving Incentives for Long-Term Investment by Pension Funds : The Use of Outcome-Based Benchmarks (2014)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV048266318
    Format: 1 Online-Ressource (26 p)
    Content: A fundamental goal of any pension system is to ensure that members receive an adequate income when they retire. Although traditional defined benefit pension plans set out how pension income will be determined in advance and then strive to deliver this, the growing number of defined contribution plans accumulate a sum of assets which can then be turned into a pension income on retirement. However, the amount of this retirement income is not predefined This frequently leads to a focus by not only most pension providers, but also regulators and pension plan members themselves on the short-term accumulation of pension assets rather than the longer-term goal of securing an adequate retirement income. This paper discusses a possible solution to this challenge: the use of benchmarks to encourage pension funds to invest with the longer-term goal of delivering adequate retirement income in mind. Examples are provided of leading pension funds that already work with long-term, outcome-based benchmarks. The paper suggests a methodology for pension regulators to use in order to incentivize pension funds in their jurisdictions to adopt a similar approach
    Additional Edition: Stewart, Fiona Proving Incentives for Long-Term Investment by Pension Funds
    Language: English
    DOI: 10.1596/1813-9450-6885
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 3
    Online Resource
    Online Resource
    Pension Funds and the Impact of Switching Regulation on Long-term Investment (2017)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV048269736
    Format: 1 Online-Ressource (34 p)
    Series Statement: World Bank E-Library Archive
    Content: This paper looks at the impact of members' ability to switch pension fund provider and /or portfolio on the allocation of pension funds to long-term investments. The level of annual turnover in pension fund portfolios was compared with the amount of short-term investments (using government treasury bills and bank deposits as proxy). The investment regulations around switching and other market conduct were then considered. The paper finds that greater movements between pension fund providers and between portfolios is linked to increased holdings of short-term and more liquid assets. Switching appears to be driven by competition, market structure, and investment advice, and, unfortunately, frequently results in poor investment returns for members. The paper makes six recommends for regulators. First, use administrative controls to prevent fraudulent switching between pension providers. Second, provide clear performance and cost comparisons to inform members' choice of provider/fund and encourage informed decision making, which is beneficial for members and the system. Third, supervise and control advertising and marketing (including reporting of performance periods) carefully, to avoid switches based on misleading advice. Fourth, control financial incentives for sales agents, so that switching advice is given in members' interest and not for commercial gain. Fifth, concentrate issuance in government securities, to create more liquid instruments. And sixth, conduct further research on the concept of a central liquidity pool to manage unexpected outflows
    Additional Edition: Erscheint auch als Druck-Ausgabe Morales, Alvaro Enrique Pedraza Pension Funds and the Impact of Switching Regulation on Long-term Investment Washington, D.C : The World Bank, 2017
    Language: English
    DOI: 10.1596/1813-9450-8143
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 4
    Online Resource
    Online Resource
    Developing Insurance Markets : Insurance Companies and Infrastructure Investments (2021)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV049081165
    Format: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Content: Higher insurance penetration and smaller infrastructure investment gaps has been correlated even after accounting for gross domestic product (GDP) levels, which indicates the insurance industry may have made some contributions to this development. Insurers have been promoting infrastructure investments as both asset owners and asset managers because this asset class makes sense from an asset liability management (ALM) viewpoint and they can leverage their asset management function. The stable and long-term cash flows of infrastructure assets naturally align with liabilities of insurers, particularly life insurers. Creating an ecosystem around infrastructure finance and different types of market players is of high importance. In a developing country where banks are already dominant in infrastructure financing and a risk-based framework for the banking sector constrains them from providing long-tenor financing, the roll-over model can work. Finally, governments and national supervisors can support infrastructure investments in several ways, including establishing a clear definition for infrastructure and compiling data, lowering capital charges on infrastructure investments (if their different treatment is evidence-based), facilitating credit enhancement mechanism and the increase of investible infrastructure projects, et cetera In some cases, more clarity may be required on capital charges between infrastructure and securitized assets. Restrictions on direct investments to infrastructure can also be lifted under appropriate risk-based supervision in place unless being harmful to the interests of policyholders
    Language: English
    DOI: 10.1596/36355
    DOI: 10.1596/36355
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Deutschlandweit zugänglich
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 5
    Online Resource
    Online Resource
    Developing Insurance Markets : The Insurance Sector's Contribution to the Sustainable Development Goals (2021)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV049081167
    Format: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Content: Insurance can play a significant role in helping countries achieve the UN SDGs in terms of economic growth, social inclusion, and environmental protection. This can be achieved through the risk transfer mechanisms of households, businesses, and the public sector. The paper has a twofold purpose. First, to help regulators and insurance policymakers in emerging markets make the case for supporting insurance market development through drawing more attention to contribution the sector can make to achieving national SDGs. Secondly, to help investors, donors, international organizations focus their insurance market development efforts in countries where the sector has the maximum potential to contribute to the achievement of SDGs. This paper considers the role of insurance companies as underwriters facilitating risk transfer, as investors and asset managers and as corporate citizens and employers.
    Content: The underwriting dimension is currently the most significant but all three have a role to play in supporting the SDGs. The paper also discusses how insurance can contribute more to these goals, including through targeted interventions in countries where conditions for right for insurance market development and SGD targets will need greater support to be met. Countries were screened for performance vs. the selected SDGs, by the potential for insurance sector development, as well as for minimum necessary enabling conditions for market growth. The paper concludes that the role of insurance has been somewhat overlooked in the context of the SDGs and that this is largely because the current indicators largely do not capture metrics relating to insurance.
    Content: To be able to better assess the role of insurance and motivate the industry to contribute more to the SDGs, more consistent and disaggregated data collection on the following is recommended: lines of business; invested assets; gender disaggregated data. The UN, governments and the insurance industry are also encouraged to put greater emphasis on developing the sector as a means to achieving the SDGs
    Language: English
    DOI: 10.1596/36353
    DOI: 10.1596/36353
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Deutschlandweit zugänglich
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 6
    Online Resource
    Online Resource
    Striking the Right Note : Key Performance Indicators for Sovereign Sustainability-Linked Bonds (2021)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV049080802
    Format: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Content: The framework presented in the report is intended to bridge the gap between what sovereign investors will view as appropriately ambitious actions and what issuing countries see as achievable targets. The framework is intended to help investors with their decision-making and can inform Ministries of Finance and their debt management offices (DMOs) about what investors want to know regarding their country's sustainability performance. The report findings may also inform creation of financial instruments and market analyses beyond sovereign sustainability-linked bonds (SLBs) and are relevant for a broad range of stakeholders. These include regulators, credit rating agencies, academics, as well as nongovernmental organizations (NGOs), and civil society groups which can be affected by the types of indicators selected and outcomes of government policies
    Language: English
    DOI: 10.1596/36805
    DOI: 10.1596/36805
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Deutschlandweit zugänglich
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 7
    Online Resource
    Online Resource
    Credit Worthy : ESG Factors and Sovereign Credit Ratings (2022)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV049080755
    Format: 1 Online-Ressource
    Series Statement: Other papers
    Content: The increasing role of the financial sector in the move toward a more sustainable economic model continues apace. The Coronavirus (COVID-19) shock shone a light on the need for all society to correct course, and the financial sector is responding. The pace of environmental, social, and governance (ESG) integration into investment decisions, which has become the prevalent form of sustainable finance, continues to accelerate. These developments reflect changing societal perspectives that challenge the traditionally ingrained investment approaches that have evolved over many decades. Against this backdrop, various financial sector stakeholders continue to evaluate how their role, products, and tools should adapt to this evolving landscape. This paper focuses on sovereign credit ratings and empirically assesses how broad sovereign ESG factors as well as the ESG factors specific to a country's national wealth and management of risks and opportunities related to so-called stranded assets like fossil fuel resources are manifested in sovereign credit rating assessments
    Language: English
    DOI: 10.1596/36866
    DOI: 10.1596/36866
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Deutschlandweit zugänglich
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 8
    Online Resource
    Online Resource
    Incorporating Environmental, Social and Governance Factors into Fixed Income Investment (2018)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV048271398
    Format: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Content: This research report is the result of a partnership between the World Bank Group (WBG) and Government Pension Investment Fund (GPIF) of Japan, initiated by the World Bank Group's President, Jim Yong Kim, and GPIF's Chief Investment Officer, Hiro Mizuno. The aim is for the World Bank and IFC - member of the World Bank Group focused on the private sector - and GPIF to collaborate on initiatives that promote strategies for including environmental, social and governance (ESG) criteria in investment decisions across asset classes. Ultimately, the goal is to direct more capital towards sustainable investments and leverage the private sector to achieve the scale of investment needed to meet the Sustainable Development Goals
    Language: English
    DOI: 10.1596/29693
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Deutschlandweit zugänglich
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 9
    Online Resource
    Online Resource
    The Role of Green Financial Sector Initiatives in the Low-Carbon Transition : A Theory of Change (2022)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV049079773
    Format: 1 Online-Ressource (51 Seiten)
    Content: Green financial sector initiatives, including financial policies, regulations, and instruments, could play an important role in the low-carbon transition by supporting countries in the implementation of economic policies aimed to decarbonize their economy. Thus, it is fundamental to understand the conditions under which and the extent to which green financial sector initiatives could enable the scaling up of green investments and the achievement of national climate mitigation objectives, while, at the same time, avoiding unintended effects on macroeconomic and financial stability. However, this understanding is currently limited, in particular in the context of emerging markets and developing economies. This paper contributes to filling this knowledge gap by analyzing opportunities and challenges associated with the implementation of green financial sector initiatives. It also considers the specificities of green financial sector initiatives in emerging markets and developing economies, which are often characterized by budget constraints, debt sustainability concerns, and limited access to finance. The analysis focuses on green macroprudential policies, green monetary policies, and green public co-funding. For each green financial sector initiative, the paper qualitatively investigates the transmission channels through which it affects the availability and cost of capital for high- and low-carbon goods, but also investments, output, and greenhouse gas emissions, considering the design and implementation of the green financial sector initiative. For each green financial sector initiative, the paper further identifies its entry point in the economy and its direct and indirect impacts. Building on these insights, the paper develops a theory of change about the role of green financial sector initiatives in climate mitigation and in the low-carbon transition, identifying the criteria for applicability and conditions to maximize impact
    Additional Edition: Erscheint auch als Druck-Ausgabe Monasterolo, Irene The Role of Green Financial Sector Initiatives in the Low-Carbon Transition: A Theory of Change Washington, D.C. : The World Bank, 2022
    Language: English
    DOI: 10.1596/1813-9450-10181
    DOI: 10.1596/1813-9450-10181
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
  • 10
    Online Resource
    Online Resource
    Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models (2014)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV048266215
    Format: 1 Online-Ressource (21 p)
    Content: The link between infrastructure and economic growth is widely acknowledged-as is the infrastructure gap, which can act as a break on growth in emerging markets and developing economies (EMDEs). Since the global economic and financial crisis, the challenges of raising financing for infrastructure projects in EMDEs are also well known. The challenges come from stretched government finances and restrictions on global bank lending. Hence much attention has been focused on the potential for institutional investors as a growing potential source of financing. This paper argues that infrastructure projects can potentially deliver long-term returns, but investments, particularly in EMDEs need to be carefully structured to meet the needs of both sides. The paper first considers the existing types of institutional investors and their potential for filling the infrastructure financing gap. The challenges of adjusting asset allocations, particularly toward EMDE infrastructure, are discussed and examples of projects where institutional investors have been involved are given. Finally, the paper considers a range of models for the involvement of institutional investors in EMDEs and makes initial proposals for how to determine which model fits best in a particular country context
    Additional Edition: Inderst, Georg Institutional Investment in Infrastructure in Developing Countries
    Language: English
    DOI: 10.1596/1813-9450-6780
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    Open Access Request
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    MPI Bildungsforschung
Nothing or not found what you are looking for? Please check your search query or use the Interlibrary Loan Search.
Close ⊗
This website uses cookies and the analysis tool Matomo. Further information can be found on the KOBV privacy pages