"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...

Technology is one of the main drivers of productivity and economic growth. Developing countries have traditionally had difficulties in both developing technology and absorbing foreign technology. However, the recent emergence of tech startups present an opportunity. Tech start-ups are an...

Technology is one of the main drivers of productivity and economic growth. Developing countries have traditionally had difficulties in both developing technology and absorbing foreign technology. Seventy to eighty percent of the productivity gap between developed and developing countries is...

This report evaluates the role, operational models and identifies good practices of programs that seek to accelerate innovative entrepreneurship by managing, nurturing and leveraging social and business networks. The report discusses the role of venture acceleration networks, using networks to...

"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...