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Regulatory Reform and the Implications for Derivatives

Global regulatory reforms promise to significantly impact investors in the derivatives market, ushering in important changes in clearing, trade execution, collateral management and investment operations, among other areas. While there are still many unknowns, investors will need to prepare themselves to adapt to an evolving and considerably altered investment landscape. Click here to download the […]
 August 9, 2011
Research

Internal governance mechanisms and pension fund performance

This study provides new empirical evidence on the impact of board structure, as an internal governance mechanism, on defined-contribution pension fund performance. It shows the composition of the board and the motivation of the board members are important in explaining pension fund performance.
 August 3, 2011
Research

The Development of Local Debt Markets in Asia

This IMF working paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. The papers says, with rapid economic growth in Asia, a key challenge […]
 July 6, 2011
Research

Are state public pensions sustainable?

Assuming future state contributions fund the full present value of new benefits, many US state systems will run out of money in 10-20 years. This paper argues the expected shortfalls raise the possibility that the federal government will be faced with a decision whether to bail out states driven to insolvency by their pension programs.
 June 22, 2011
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