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Reforming Pension Funds in Sri Lanka: International Diversification and the Employees’ Provident Fund
https://doi.org/10.24545/00001034
https://doi.org/10.24545/00001034d1a1e231-ba3d-46f8-bb7f-02e3c106e8f8
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
DP10-13.pdf (296.1 kB)
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| Item type | ディスカッションペーパー / Discussion Paper(1) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 公開日 | 2010-09-01 | |||||||||
| タイトル | ||||||||||
| タイトル | Reforming Pension Funds in Sri Lanka: International Diversification and the Employees’ Provident Fund | |||||||||
| 言語 | en | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | International Diversification | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Utility Maximization | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | EPF | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Hypothetical Worker | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Modern Portfolio Theory | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Sri Lanka | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ | technical report | |||||||||
| ID登録 | ||||||||||
| ID登録 (DOI) | 10.24545/00001034 | |||||||||
| ID登録タイプ | JaLC | |||||||||
| 著者 |
KUMARA, Ajantha Sisira
× KUMARA, Ajantha Sisira
× PFAU, Wade D.
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| 著者所属 | ||||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies | |||||||||
| 著者所属 | ||||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies | |||||||||
| 分野 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | 経済学 / Economics | |||||||||
| 抄録 | ||||||||||
| 内容記述タイプ | Abstract | |||||||||
| 内容記述 | The Employees’ Provident Fund (EPF) of Sri Lanka is a defined-contribution pension fund whose pooled asset holdings consist mainly of local government bonds. Regulations prohibit international diversification, and this paper aims to quantify the extent of the potential harms, if any, caused by this constraint. To improve the robustness of the findings, we use two distinct methodologies. These include traditional mean-variance analysis from modern portfolio theory, and Monte Carlo simulations that estimate the distribution of wealth accumulated at retirement from the contributions of a hypothetical worker. Both methods produce qualitatively and quantitatively similar results: workers with risk aversion varying from aggressive to conservative will be better served by allowing international diversification. The results are particularly persuasive for the second approach. The EPF fund managers will likely behave fairly conservatively toward risk, which suggests that around half of the fund assets should be invested abroad. | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | JEL classification codes: G11, H55, G23 | |||||||||
| 発行年 | ||||||||||
| 値 | 2010-09 | |||||||||
| 書誌情報 |
en : GRIPS Discussion Papers Report No. DP10-13, 発行日 2010-09-01 |
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| 出版者 | ||||||||||
| 出版者 | GRIPS Policy Research Center | |||||||||
| 言語 | en | |||||||||
| 関連サイト | ||||||||||
| 関連タイプ | isIdenticalTo | |||||||||
| 識別子タイプ | URI | |||||||||
| 関連識別子 | https://ideas.repec.org/p/ngi/dpaper/10-13.html | |||||||||
| 関連名称 | https://ideas.repec.org/p/ngi/dpaper/10-13.html | |||||||||
| 著者版フラグ | ||||||||||
| 出版タイプ | AM | |||||||||
| 出版タイプResource | http://purl.org/coar/version/c_ab4af688f83e57aa | |||||||||
