Prefunding of pension commitments in OECD economies is increasingly seen as a central strategy to cope with the aging of their populations. This paper argues that investments in emerging markets can help at the margin but are unable to solve the demographic problem. While these investments bring...

This policy paper presents key findings and suggestions on Malaysia's old-age financial protection system within the context of the country's broader social security framework. The trademark policy approach focusing on job creation instead of expanding social security programs served the country...

With the capital markets union (CMU), the European Union embarked on one of its yet most ambitious and potentially most relevant reform projects. However, the huge potential for the European economy by a genuine CMU has not yet been realized. The key reason for this is that an important...

With the capital markets union (CMU), the European Union embarked on one of its yet most ambitious and potentially most relevant reform projects. However, the huge potential for the European economy by a genuine CMU has not yet been realized. The key reason for this is that an important...