Government guarantees can help persuade private investors to finance valuable new infrastructure. But because their costs are hard to estimate and usually do not show up in the government's accounts, governments can be tempted to grant too many guarantees. Drawing on a diverse range of...

The book considers when governments should give guarantees to private investors. After describing the history of guarantees, and the challenges the politics and psychology create for good decisions, the book sets out principles for allocating risk (and therefore guarantees), techniques for...

The funds management industry provides numerous financial products to help investors accumulate wealth in preparation for their retirement. Typically financial products such as balanced funds and lifecycle funds have been the most popular. Recently because of the two major bear markets from 2000...