• The rapid ageing of populations in the rich economies can be expected to stimulate strong growth in private funded pensions, providing a massive potential of foreign finance for developing countries. • Pension managers can reap big diversification benefits by investing on the emerging...

In the last decade, many of the more advanced developing countries in Latin America and Asia have deregulated and opened up their financial markets. What impact has this had on the efficiency of the financial sector? How can the existence of sustained interest differentials be explained?

Given the uncertain outcome for regional trade arrangements and given the need for improved international competitiveness due to ongoing globalization it seems advisable to promote at a national level those policies which might help to enhance both integration into the regional and world...