Current issues in banking policy range from the need to construct basic institutions and incentive structures in transition economies, to the challenges posed by the increasingly complex interactions involved in contemporary banking. The authors of this report outline the basic regulatory...

Institutional investors comprise pension funds, insurance companies, and mutual funds. Should a country promote their creation if it lacks well-developed securities markets? The answer to this question, says the author, varies by type of investor. He argues that private pension funds and...

The Danish ATP (Arbejdmarkedets TillaegsPension or Labor Market Supplementary Pension) fund is a public pension fund that was created in 1964 to complement the universal pension benefit that is financed from general tax revenues and is paid to all old-age residents. When it was created,...

The financial systems in most developing countries today have many features in common with the financial systems of the developing countries of the eighteenth and nineteenth centuries. Whether they had unlimited liability (as in Scotland in the eighteenth century), or limited liability and...

Intro -- Contents -- Contributors -- Foreword -- Part I Designing Policy for the Financial System -- Looking Back at the World BankÌs World Development Report 1989: Finance and Development -- From Good Bankers to Bad Bankers -- Impact of Early Financial Growth Strategies on Financial Structures...

Structured Finance in Latin America explores how structured finance mechanisms can channel pension savings to support projects in underserved sectors, deepen capital markets, and contribute to investment and economic growth. Private pension funds have been accumulating assets rapidly in the wake...