This paper is a review and critique of the pension policy literature that discusses trends in the evolution of pension systems in the European Union over the last three decades, and the determinants of those trends. It is argued here that much of the analysis of recent developments remains at...

This paper presents empirical evidence on the increasing allocation of institutional investors to emerging markets economies. It seeks to understand which factors are driving this increase, and how this relates to portfolio flows to such economies. By making use of the Emerging Portfolio Fund...

This paper aims to investigate the dynamics of capital markets in emerging markets in a period of financial integration. It takes the case of Brazil and South Korea, two key emerging markets in the global economy, to assess the relationship between capital flows and equity prices. This is...

The increased importance of finance is the main characteristic of the current capitalist system. At the international level, the increase in cross-border financial transactions signals what has been called ?financial globalisation? or ?international financialisation?. The rise of this system is...

This article attempts to summarize the growing literature on "financialization" in developing and emerging countries. This includes the different theoretical and empirical works that have explicitly referred to the increasing role of finance in such countries as financialization, as well as the...

This paper represents a theoretical contribution to the analysis of international capital flows. It outlines an alternative theoretical framework based on Post-Keynesian monetary theory, and in particular on Hyman Minsky’s Wall Street paradigm and concept of Money-manager capitalism and...

O aumento da importância das finanças é a principal característica do sistema capitalista atual, um fenômeno que, em âmbito internacional, é evidenciado pelo aumento das transações financeiras (conhecido por ?globalização financeira?). A ascensão desse sistema está associada ao...