This report highlights the key themes and findings of the Second Public Pension Fund Management Conference that was organized by the Bank and took place in May 2003. This book addresses issues of governance, accountability, and investment policies and aims to foster ongoing dialogue and exchange...

Countries with small financial systems are generally small economies with a reduced dimension of institutional relationships, a greater concentration of wealth, and a relatively less independent civil service. These characteristics facilitate concentration of functions and, more generally, weak...

The authors conduct an empirical study on the effect of the accumulation of pension fund financial assets, on national saving, using a panel of 43 industrial, and developing countries. The authors find evidence suggesting that the accumulation of pension fund financial assets might increase...