Estimating the Gains from International Diversification : The Case of Pension Funds (English)

For pension funds, international assets represent an opportunity to improve their returns while possibly reducing risks. Nonetheless, pension funds in many developing countries face regulations that limit the choice of international investments. This paper proposes a new methodology to estimate the gains from international diversification in which the optimal asset allocation of pension funds is constrained by financial frictions. The empirical strategy...

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Author

Afanador,Juan Pablo;

Davis,Richard Mark;

Pedraza Morales,Alvaro Enrique;
Document Date
2021/04/20
Document Type
Policy Research Working Paper
Report Number
WPS9635
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2021/04/20
Disclosure Status
Disclosed
Doc Name
Estimating the Gains from International Diversification : The Case of Pension Funds
Keywords
foreign holding

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Citation

Afanador,Juan Pablo; Davis,Richard Mark; Pedraza Morales,Alvaro Enrique.

Estimating the Gains from International Diversification : The Case of Pension Funds (English). Policy Research working paper|no. WPS 9635 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/199811618928307743

Estimating the Gains from International Diversification : The Case of Pension Funds (English)

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