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This study analyzes the nonlinear relationship between financial development under the
presence of institutional investors (assets in insurance companies, mutual funds, and …

The worldwide reforming process of pension systems triggered by the demographic
transition and globalization has led several countries to implement multi‐pillar pension …

Why have trends in government welfare spending in developing countries diverged from
those in developed countries? I address this question by investigating the effects of capital …

This paper discusses the building blocks of pension reform in the light of economic theory,
and their application to different types of economy. The opening section sets out the simple …

A likely image of the current state of the literature on financial sector development is that of a
Swiss cheese with many holes inside important areas of knowledge. The aim of this …

In many developing countries and in East Asia's NIEs, demographic change has favored
economic growth. A demographic dividend or demographic window arises because the …

Der Aufsatz untersucht den Zusammenhang zwischen planmäßigem Sparen (in
Pensionsfonds und Lebensversicherungen) und dem Kapitalmarkt sowohl theoretisch wie …

Empirical analysis of two decades of pioneering pension and social security reform in Latin
America and the Caribbean shows that much has been achieved, but that critical challenges …

In the past decade, many post-socialist countries witnessed not only a fundamental
transformation of their societies and economies, but also of their retirement schemes (Fultz …