For pension funds, international assets represent an opportunity to improve their returns while possibly reducing risks. Nonetheless, pension funds in many developing countries face regulations that limit the choice of international investments. This paper proposes a new methodology to estimate...

This paper studies the trading behavior and performance of foreign investors with different management styles. The analysis uses a comprehensive Colombian data with complete transaction records and unique investor identification, and finds that the aggregate under-performance of foreign...

There is a significant gap in financing sustainable development in emerging economies to meet the climate commitments under the Paris Agreement and to fulfill the Sustainable Development Goals (SDGs). The Organization for Economic Co-operation and Development (OECD) estimates that more than USD...