Pension funds and the financing productive investment: analysis based on Brazil's recent experience

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ECLAC, Development Finance Unit, International Trade and Development Finance Division, Oct 13, 2000 - Business & Economics - 63 pages
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This paper analyses the recent development of pension funds in Brazil. It assesses the potential of pension funds to finance productive investment and discusses policies that could maximise this potential. The paper concludes that the effectiveness of pension funds to fund productive investment is dependent on: the macroeconomic environment; the degree of volatility of asset prices; market organisation and regulation and the existence of appropriate institutions to mediate between institutional investors and primary corporate securities markets.

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Tables Table 1 Portfolio distribution of pension funds in selected countries 1990
The theory briefly revisited

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