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The Role of Pension Funds in Capital Market Development
https://doi.org/10.24545/00001038
https://doi.org/10.24545/00001038b3f95e4f-3171-4f14-9ed0-596e3b6b9283
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
DP10-17.pdf (373.8 kB)
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| Item type | ディスカッションペーパー / Discussion Paper(1) | |||||||||
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| 公開日 | 2010-10-01 | |||||||||
| タイトル | ||||||||||
| タイトル | The Role of Pension Funds in Capital Market Development | |||||||||
| 言語 | en | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Pension funds | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | capital market development | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | bias-correct least square dummy variable estimator | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | generalized method of moments estimator | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | regulation | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | asset allocation | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ | technical report | |||||||||
| ID登録 | ||||||||||
| ID登録 (DOI) | 10.24545/00001038 | |||||||||
| ID登録タイプ | JaLC | |||||||||
| 著者 |
MENG, Channarith
× MENG, Channarith
× 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 | This paper provides an investigation of the impacts of pension funds on capital market development, both for stock markets and bond markets. For the overall sample of countries, we find that pension fund financial assets have positive impacts on stock market depth and liquidity as well as private bond market depth. However, when we split the countries into two groups according to their level of financial development, the impacts are only significant for countries with „high" financial development. Pension funds do not impact capital market development in the countries with a „low‟ level of financial development. These findings are based on a biased-corrected Least Square Dummy Variables (LSDVC) estimator. The results suggest that countries with ‘low’ financial development should reconsider the management approach and investment strategies for their pension funds. | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | JEL Classification Codes: C23, G11, H55, G23 | |||||||||
| 発行年 | ||||||||||
| 値 | 2010-10 | |||||||||
| 書誌情報 |
en : GRIPS Discussion Papers Report No. DP10-17, 発行日 2010-10-01 |
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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/10-17.html | |||||||||
| 関連名称 | https://ideas.repec.org/p/ngi/dpaper/10-17.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 | |||||||||
