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  • 1
    Online Resource
    Online Resource
    Pension Funds, Capital Markets, and the Power of Diversification (2017)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (27 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Stewart, Fiona Pension Funds, Capital Markets, and the Power of Diversification
    Abstract: The potential for pension funds to contribute to capital markets and thereby economic growth has been argued on a theoretical basis and demonstrated empirically. However, reforms fostering the development of funded pension systems have not had the economic impact hoped for in some countries. Pension fund portfolios in some cases have remained highly exposed to shorter-term assets, such as bank deposits and shorter-term government bonds. This, in turn, has led to relatively low investment returns, thereby potentially affecting income adequacy in retirement. This paper looks at the potential regulatory hurdles to long-term investment by pension funds, while also proposing international diversification and the creation of domestic investment opportunities to help portfolio diversification and ultimately improve the delivery of secure, adequate pensions
    DOI: 10.1596/1813-9450-8136
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Proving Incentives for Long-Term Investment by Pension Funds : The Use of Outcome-Based Benchmarks (2014)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (26 p)
    Edition: 2014 World Bank eLibrary
    Parallel Title: Stewart, Fiona Proving Incentives for Long-Term Investment by Pension Funds
    Abstract: A fundamental goal of any pension system is to ensure that members receive an adequate income when they retire. Although traditional defined benefit pension plans set out how pension income will be determined in advance and then strive to deliver this, the growing number of defined contribution plans accumulate a sum of assets which can then be turned into a pension income on retirement. However, the amount of this retirement income is not predefined This frequently leads to a focus by not only most pension providers, but also regulators and pension plan members themselves on the short-term accumulation of pension assets rather than the longer-term goal of securing an adequate retirement income. This paper discusses a possible solution to this challenge: the use of benchmarks to encourage pension funds to invest with the longer-term goal of delivering adequate retirement income in mind. Examples are provided of leading pension funds that already work with long-term, outcome-based benchmarks. The paper suggests a methodology for pension regulators to use in order to incentivize pension funds in their jurisdictions to adopt a similar approach
    DOI: 10.1596/1813-9450-6885
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Final Acts : Death, Dying, and the Choices We Make (2009)
    Piscataway : Rutgers University Press
    Details
    ISBN: 9780813546278
    Language: English
    Pages: Online-Ressource (339 p.)
    Edition: Online-Ausg.
    Parallel Title: Print version Final Acts : Death, Dying, and the Choices We Make
    DDC: 306.9
    Keywords: Death ; Thanatology ; Thanatology ; Electronic books ; Electronic books
    Abstract: For those who yearn for some measure of control over death Final Acts, offers insight and hope. Writing in a style free of technical jargon, the contributors discuss documents that should be prepared (health proxy, do-not-resuscitate order, living will, power of attorney); decision-making (over medical interventions, life support, hospice and palliative care, aid-in-dying, treatment location, speaking for those who can no longer express their will); and the roles played by religion, custom, family, friends, caretakers, money, the medical establishment, and the government
    Description / Table of Contents: CONTENTS; PREFACE; E-mails to Family and Friends; Introduction; Notes on My Dying; Live Longer or Live Better?; "Life which is ours to know just once"; Caregiving Beulah; Whose Death Is It, Anyway?; The Family Tree; Elegy for an Optimist; Buddhist Reflections onLife and Death; Death as My Colleague; The Transformation ofDeath in America; Unintended Consequences; The Hospital Ethics Committee; Ethical Principles for End-of-LifeDecision Making; Life or Death; Empowering Patients at theEnd of Life; Dying Down Under; Ageism and Late-Life Choices; Physician-Assisted Suicide; End of days
    Description / Table of Contents: ABOUT THE EDITORS ANDCONTRIBUTORSINDEX;
    Note: Description based upon print version of record
    URL: Volltext
    URL: Volltext
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  • 4
    Online Resource
    Online Resource
    Incorporating Environmental, Social and Governance Factors into Fixed Income Investment (2018)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Other papers
    Abstract: This research report is the result of a partnership between the World Bank Group (WBG) and Government Pension Investment Fund (GPIF) of Japan, initiated by the World Bank Group's President, Jim Yong Kim, and GPIF's Chief Investment Officer, Hiro Mizuno. The aim is for the World Bank and IFC - member of the World Bank Group focused on the private sector - and GPIF to collaborate on initiatives that promote strategies for including environmental, social and governance (ESG) criteria in investment decisions across asset classes. Ultimately, the goal is to direct more capital towards sustainable investments and leverage the private sector to achieve the scale of investment needed to meet the Sustainable Development Goals
    DOI: 10.1596/29693
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Developing Insurance Markets : Insurance Companies and Infrastructure Investments (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Capital Markets and Capital Flows ; Finance and Development ; Finance and Financial Sector Development ; Financial Regulation ; Financial Regulation and Supervision ; Infrastructure Economics and Finance ; Infrastructure Finance ; Infrastructure Investment ; Insurance ; Insurance and Risk Mitigation
    Abstract: Higher insurance penetration and smaller infrastructure investment gaps has been correlated even after accounting for gross domestic product (GDP) levels, which indicates the insurance industry may have made some contributions to this development. Insurers have been promoting infrastructure investments as both asset owners and asset managers because this asset class makes sense from an asset liability management (ALM) viewpoint and they can leverage their asset management function. The stable and long-term cash flows of infrastructure assets naturally align with liabilities of insurers, particularly life insurers. Creating an ecosystem around infrastructure finance and different types of market players is of high importance. In a developing country where banks are already dominant in infrastructure financing and a risk-based framework for the banking sector constrains them from providing long-tenor financing, the roll-over model can work. Finally, governments and national supervisors can support infrastructure investments in several ways, including establishing a clear definition for infrastructure and compiling data, lowering capital charges on infrastructure investments (if their different treatment is evidence-based), facilitating credit enhancement mechanism and the increase of investible infrastructure projects, et cetera In some cases, more clarity may be required on capital charges between infrastructure and securitized assets. Restrictions on direct investments to infrastructure can also be lifted under appropriate risk-based supervision in place unless being harmful to the interests of policyholders
    DOI: 10.1596/36355
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    Reverse mortgages, financial inclusion, and economic development potential benefit and risks (2020)
    [Washington, DC, USA] : World Bank Group, Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 29 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9134
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Peter Knaack Reverse Mortgages, Financial Inclusion, and Economic Development: Potential Benefit and Risks
    Keywords: Graue Literatur
    Abstract: This paper examines the state of reverse mortgage markets in selected countries around the world and considers the potential benefits and risks of these products from a financial inclusion and economic benefit standpoint. Despite potentially increasing demand from aging societies - combined with limited pension income - a series of market failures constrain supply and demand. The paper discusses a series of market failures on the supply side, such as adverse selection, moral hazard, and the costly regulation established to address these problems, leading to only a small number of providers, even in developed markets. Demand-side constraints are equally relevant, in particular high non-interest costs, abuse concerns, and the inability of reverse mortgages to cover key risks facing the elderly, particularly health and elder care. In developing countries, constraints are likely to be even higher than in advanced economies, due to high transaction costs and lack of consumer knowledge and protection. The enabling conditions for such markets to develop are outlined, along with examples of regulatory oversight. The paper concludes that these still seem to be largely products of last resort rather than well-considered purchases as part of good retirement planning
    DOI: 10.1596/1813-9450-9134
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 7
    Online Resource
    Online Resource
    Pension Funds and the Impact of Switching Regulation on Long-term Investment (2017)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (34 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Morales, Alvaro Enrique Pedraza Pension Funds and the Impact of Switching Regulation on Long-term Investment
    Abstract: This paper looks at the impact of members' ability to switch pension fund provider and /or portfolio on the allocation of pension funds to long-term investments. The level of annual turnover in pension fund portfolios was compared with the amount of short-term investments (using government treasury bills and bank deposits as proxy). The investment regulations around switching and other market conduct were then considered. The paper finds that greater movements between pension fund providers and between portfolios is linked to increased holdings of short-term and more liquid assets. Switching appears to be driven by competition, market structure, and investment advice, and, unfortunately, frequently results in poor investment returns for members. The paper makes six recommends for regulators. First, use administrative controls to prevent fraudulent switching between pension providers. Second, provide clear performance and cost comparisons to inform members' choice of provider/fund and encourage informed decision making, which is beneficial for members and the system. Third, supervise and control advertising and marketing (including reporting of performance periods) carefully, to avoid switches based on misleading advice. Fourth, control financial incentives for sales agents, so that switching advice is given in members' interest and not for commercial gain. Fifth, concentrate issuance in government securities, to create more liquid instruments. And sixth, conduct further research on the concept of a central liquidity pool to manage unexpected outflows
    DOI: 10.1596/1813-9450-8143
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    MPI Ethno. Forsch.
  • 8
    Online Resource
    Online Resource
    Enabling Private Investment in Climate Adaptation and Resilience : Current Status, Barriers to Investment and Blueprint for Action (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Environmental Study
    Abstract: This report identifies ways to overcome key barriers to private sector investment in adaptation and resilience, laying out a coordinated and data-driven Blueprint for Action to help governments and their development partners to close the adaptation finance gap. Although climate adaptation finance flows have increased by 35% in recent years, they still fall short of what is needed to avoid severe economic and human impacts from climate change. The urgent need for boosting investment in climate adaptation and resilience cannot be overstated. Much remains to be learned about how to unlock and enable private capital to help finance national and local adaptation priorities, and how to build the business case for adaptation. The report offers a snapshot of current levels of private financing for climate adaptation and how they fit into global efforts to finance climate resilience-building around the world. It documents the main barriers that have stymied private investment in adaptation to date. The report proposes a blueprint for action--a concrete, stepped approach for governments to address barriers to private investment in adaptation and resilience--so private capital can actively contribute to financing national and local priorities. The blueprint provides five entry points to enable private investment. The Blueprint for action we propose in the report represents a novel coordinated framework for action for governments to develop, finance, and implement priority adaptation and resilience investments - driven by countries' goals and national investment plans that can help accelerate and scale up investment to address the climate resilience needs of the world's most climate-vulnerable communities and economies
    DOI: 10.1596/35203
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 9
    Online Resource
    Online Resource
    Credit Worthy : ESG Factors and Sovereign Credit Ratings (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Adaptation To Climate Change ; Carbon Policy and Trading ; Creditworthiness ; Debt Markets ; Environment ; Finance and Financial Sector Development ; Sovereign Debt
    Abstract: The increasing role of the financial sector in the move toward a more sustainable economic model continues apace. The Coronavirus (COVID-19) shock shone a light on the need for all society to correct course, and the financial sector is responding. The pace of environmental, social, and governance (ESG) integration into investment decisions, which has become the prevalent form of sustainable finance, continues to accelerate. These developments reflect changing societal perspectives that challenge the traditionally ingrained investment approaches that have evolved over many decades. Against this backdrop, various financial sector stakeholders continue to evaluate how their role, products, and tools should adapt to this evolving landscape. This paper focuses on sovereign credit ratings and empirically assesses how broad sovereign ESG factors as well as the ESG factors specific to a country's national wealth and management of risks and opportunities related to so-called stranded assets like fossil fuel resources are manifested in sovereign credit rating assessments
    DOI: 10.1596/36866
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 10
    Online Resource
    Online Resource
    The Role of Green Financial Sector Initiatives in the Low-Carbon Transition : A Theory of Change (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (51 pages)
    Parallel Title: Erscheint auch als Monasterolo, Irene The Role of Green Financial Sector Initiatives in the Low-Carbon Transition: A Theory of Change
    Keywords: Carbon Policy and Trading ; Carbon Transition ; Energy ; Energy Finance ; Energy Resources Development ; Environment ; Environmental Economics and Policies ; Green Finance ; Green Finance Mechanisms ; Greenhouse Gas Accounting ; Macroprudential Policy ; Monetary Policy ; Renewable Energy
    Abstract: Green financial sector initiatives, including financial policies, regulations, and instruments, could play an important role in the low-carbon transition by supporting countries in the implementation of economic policies aimed to decarbonize their economy. Thus, it is fundamental to understand the conditions under which and the extent to which green financial sector initiatives could enable the scaling up of green investments and the achievement of national climate mitigation objectives, while, at the same time, avoiding unintended effects on macroeconomic and financial stability. However, this understanding is currently limited, in particular in the context of emerging markets and developing economies. This paper contributes to filling this knowledge gap by analyzing opportunities and challenges associated with the implementation of green financial sector initiatives. It also considers the specificities of green financial sector initiatives in emerging markets and developing economies, which are often characterized by budget constraints, debt sustainability concerns, and limited access to finance. The analysis focuses on green macroprudential policies, green monetary policies, and green public co-funding. For each green financial sector initiative, the paper qualitatively investigates the transmission channels through which it affects the availability and cost of capital for high- and low-carbon goods, but also investments, output, and greenhouse gas emissions, considering the design and implementation of the green financial sector initiative. For each green financial sector initiative, the paper further identifies its entry point in the economy and its direct and indirect impacts. Building on these insights, the paper develops a theory of change about the role of green financial sector initiatives in climate mitigation and in the low-carbon transition, identifying the criteria for applicability and conditions to maximize impact
    DOI: 10.1596/1813-9450-10181
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
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