{"created":"2023-06-20T15:03:04.673066+00:00","id":1038,"links":{},"metadata":{"_buckets":{"deposit":"2ec11f48-d963-4ebe-9604-59aa0e696886"},"_deposit":{"created_by":16,"id":"1038","owners":[16],"pid":{"revision_id":0,"type":"depid","value":"1038"},"status":"published"},"_oai":{"id":"oai:grips.repo.nii.ac.jp:00001038","sets":["1:20"]},"author_link":["6447","6448"],"item_12_description_6":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"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.","subitem_description_type":"Abstract"}]},"item_12_description_7":{"attribute_name":"内容記述","attribute_value_mlt":[{"subitem_description":"JEL Classification Codes: C23, G11, H55, G23","subitem_description_type":"Other"}]},"item_12_description_8":{"attribute_name":"分野","attribute_value_mlt":[{"subitem_description":"経済学 / Economics","subitem_description_type":"Other"}]},"item_12_identifier_registration":{"attribute_name":"ID登録","attribute_value_mlt":[{"subitem_identifier_reg_text":"10.24545/00001038","subitem_identifier_reg_type":"JaLC"}]},"item_12_publisher_12":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"GRIPS Policy Research Center ","subitem_publisher_language":"en"}]},"item_12_relation_16":{"attribute_name":"関連サイト","attribute_value_mlt":[{"subitem_relation_name":[{"subitem_relation_name_text":"https://ideas.repec.org/p/ngi/dpaper/10-17.html"}],"subitem_relation_type":"isIdenticalTo","subitem_relation_type_id":{"subitem_relation_type_id_text":"https://ideas.repec.org/p/ngi/dpaper/10-17.html","subitem_relation_type_select":"URI"}}]},"item_12_text_10":{"attribute_name":"発行年","attribute_value_mlt":[{"subitem_text_value":"2010-10"}]},"item_12_text_5":{"attribute_name":"著者所属","attribute_value_mlt":[{"subitem_text_value":"政策研究大学院大学 / National Graduate Institute for Policy Studies"},{"subitem_text_value":"政策研究大学院大学 / National Graduate Institute for Policy Studies"}]},"item_12_version_type_19":{"attribute_name":"著者版フラグ","attribute_value_mlt":[{"subitem_version_resource":"http://purl.org/coar/version/c_ab4af688f83e57aa","subitem_version_type":"AM"}]},"item_1693541285410":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2010-10-01","bibliographicIssueDateType":"Issued"},"bibliographicVolumeNumber":"DP10-17","bibliographic_titles":[{"bibliographic_title":"GRIPS Discussion Papers","bibliographic_titleLang":"en"}]}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"MENG, Channarith","creatorNameLang":"en"}],"nameIdentifiers":[{}]},{"creatorNames":[{"creatorName":"PFAU, Wade D.","creatorNameLang":"en"}],"nameIdentifiers":[{}]}]},"item_files":{"attribute_name":"ファイル情報","attribute_type":"file","attribute_value_mlt":[{"accessrole":"open_access","filename":"DP10-17.pdf","filesize":[{"value":"373.8 kB"}],"format":"application/pdf","licensetype":"license_note","mimetype":"application/pdf","url":{"label":"DP10-17.pdf","url":"https://grips.repo.nii.ac.jp/record/1038/files/DP10-17.pdf"},"version_id":"75a7ad76-b83b-40b4-8483-4b08633f5f85"}]},"item_keyword":{"attribute_name":"キーワード","attribute_value_mlt":[{"subitem_subject":"Pension funds","subitem_subject_scheme":"Other"},{"subitem_subject":"capital market development","subitem_subject_scheme":"Other"},{"subitem_subject":"bias-correct least square dummy variable estimator","subitem_subject_scheme":"Other"},{"subitem_subject":"generalized method of moments estimator","subitem_subject_scheme":"Other"},{"subitem_subject":"regulation","subitem_subject_scheme":"Other"},{"subitem_subject":"asset allocation","subitem_subject_scheme":"Other"}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"eng"}]},"item_resource_type":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"resourcetype":"technical report"}]},"item_title":"The Role of Pension Funds in Capital Market Development","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"The Role of Pension Funds in Capital Market Development","subitem_title_language":"en"}]},"item_type_id":"12","owner":"16","path":["20"],"pubdate":{"attribute_name":"PubDate","attribute_value":"2010-10-01"},"publish_date":"2010-10-01","publish_status":"0","recid":"1038","relation_version_is_last":true,"title":["The Role of Pension Funds in Capital Market Development"],"weko_creator_id":"16","weko_shared_id":-1},"updated":"2023-11-20T08:55:12.200642+00:00"}