"For a foreign "issuer," the benefits of cross-listing in the United States are extensively documented in the literature. However it is not clear what motivates "investors" to hold American Depositary Receipts (ADRs) rather than the underlying stock of these issuers. The authors address the...

"Following Chile's pension reform in 1981, a wave of multi-pillar pension reforms took place in Latin America (LAC). Their implementation has revealed new policy challenges. To shed light on these issues, this paper reviews the structure and performance of mandatory DC pillars in LAC. The review...

The value of funded pensions can depend critically on the funds' investment performance. To try and protect people's savings, governments often regulate pension funds strictly, particularly when contributions are mandatory. For example, the new funded pension systems in Latin America and Eastern...

The project purpose is to provide expert technical assistance to the State Securities Commission (SSC) for the development of the regulatory framework for supervising the investment funds. The main products of the work are an assessment report on the key challenges to the SSC in the supervision...

This review examines corporate governance practices in the investment fund sector of the ten new member states in the European Union, composed of the European countries that transitioned to market economies in the 1990s: the eight countries that joined the European Union (EU) in 2004 .Czech...

The second Climate Investment Funds (CIF) partnership forum took place at the headquarters of the Asian Development Bank (ADB) in Manila, Philippines, on March 18-19, 2010. The objective of the 2010 partnership forum was to share lessons learned from the CIF design process and from early...

The Emergency Social Investment Fund (FISE) ex-post impact evaluation, is one of the first to be carried out on a social fund since the introduction of these mechanisms, a decade ago. Through strong impact evaluation methodologies, the report provides empirical evidence regarding FISE's success...