Overview Of Contractual Savings Institutions
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Overview Of Contractual Savings Institutions
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Author :
language : ru
Publisher: World Bank Publications
Release Date :
Overview Of Contractual Savings Institutions written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Overview Of Contractual Savings Institutions
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Author : Dimitri Vittas
language : en
Publisher: World Bank Publications
Release Date : 1991
Overview Of Contractual Savings Institutions written by Dimitri Vittas and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Insurance, Life categories.
Contractual savings institutions, because of their stable cash flows and long- term liabilities, could be ideal sources of term finance for both the public and private sectors. Unlike developed countries, most developing countries have insignificant contractual savings industries - but many are beginning to make reform in this industry a high priority.
Contractual Savings Stock And Asset Markets
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Author : Gregorio Impavido
language : en
Publisher: World Bank Publications
Release Date : 2000
Contractual Savings Stock And Asset Markets written by Gregorio Impavido and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Ahorro categories.
Cross-country and time-series evidence from some OECD and developing countries shows that pension funds and life and nonlife insurance companies contribute to stock market development.
Contractual Savings Institutions And Banks Stability And Efficiency
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Author :
language : en
Publisher: World Bank Publications
Release Date :
Contractual Savings Institutions And Banks Stability And Efficiency written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
The Impact Of Contractual Savings Institutions On Securities Markets
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Author : Alberto R. Musalem
language : en
Publisher: World Bank Publications
Release Date : 2003
The Impact Of Contractual Savings Institutions On Securities Markets written by Alberto R. Musalem and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Bonds categories.
Impavido, Musalem, and Tressel assess empirically the impact of contractual savings institutions portfolios (pension funds and life insurance companies) on securities markets, for example, depth and liquidity in the domestic stock market, and depth in the domestic bond market. They discuss how the institutionalization of savings can modify financial markets through the lengthening of securities' maturities. The results are the following: * An increase in assets of contractual savings institutions relative to domestic financial assets has a positive impact on the depth of stock and bond markets on average. * The impact on stock market depth and liquidity is nonlinear: it is stronger in countries where corporate information is more transparent. * There is evidence of a significant heterogeneity among countries: contractual savings have a stronger impact on securities markets in countries where the financial system is market based, pension fund contributions are mandatory, and international transactions in securities are lower. * The authors do not find that the impact of contractual savings institutions on securities markets is explained by the overall level of development, education, demographic structure or the legal environment. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study the effects of contractual savings on financial markets.
Contractual Savings Institutions
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Author : Michael Thomas Skully
language : en
Publisher:
Release Date : 1988
Contractual Savings Institutions written by Michael Thomas Skully and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with categories.
Contractual Savings Institutions And Banks Stability And Efficiency
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Author : Gregorio Impavido
language : en
Publisher:
Release Date : 2016
Contractual Savings Institutions And Banks Stability And Efficiency written by Gregorio Impavido and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper argues that contractual savings (assets of pension funds and life insurance companies) contribute to the improvement of banks' efficiency, credit, and liquidity risk. The authors use bank level panel data across countries to assess the impact of contractual savings on bank efficiency and lending behavior. They concentrate on profitability measures and on term transformation and credit risk indicators.Impavido, Musalem, and Tressel analyze the relationship between the development of contractual savings institutions and banks' efficiency, credit, and liquidity risks. They discuss the potential mechanisms through which the development of contractual savings institutions may affect the banking sector. They show that the development of contractual savings institutions has a significant impact on bank spreads and loan maturity.After controlling for banks' characteristics, macroeconomic factors, and more standard indicators of financial development, they show that the development of contractual savings institutions is associated with increased efficiency of the banking system and greater resilience to credit and liquidity risks.This paper - a product of the Financial Sector Development Department - is part of a larger effort in the department to study the effects of contractual savings on financial markets. The authors may be contacted at [email protected], [email protected], or [email protected].
Contractual Savings Institutions And Banks Stability And Efficiency
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Author : Gregorio Impavido
language : en
Publisher: World Bank Publications
Release Date : 2001
Contractual Savings Institutions And Banks Stability And Efficiency written by Gregorio Impavido and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Bank assets categories.
This paper argues that contractual savings (assets of pension funds and life insurance companies) contribute to the improvement of banks' efficiency, credit, and liquidity risk. The authors use bank level panel data across contries to assess the impact of contractual savings on bank efficiency and lending behavior. They concentrate on profitability measures and on term transformation and credit risk indicators.
Contractual Savings And Emerging Securities Markets
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Author :
language : en
Publisher: World Bank Publications
Release Date :
Contractual Savings And Emerging Securities Markets written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Contractual Savings Capital Markets And Firms Financing Choices
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Author : Gregorio Impavido
language : en
Publisher: World Bank Publications
Release Date : 2001
Contractual Savings Capital Markets And Firms Financing Choices written by Gregorio Impavido and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Ahorro contractual categories.
The authors analyze the relationship between the development and asset allocation of contractual savings and firms' capital structures. The authors develop a simple model of firms' leverage and debt maturity decisions. They illustrate the mechanisms through which contractual savings development may affect corporate financing patterns. In the empirical section, the authors show that the development and asset allocation of contractual savings have an independent impact on firms' financing choices. Different channels are identified. In market-based economies, an increase in the proportion of shares in the portfolio of contractual savings leads to a decline in firms' leverage. In bank-based economies, instead, an increase in the size of contractual savings is associated with an increase in leverage and debt maturity in the corporate sector.