Pension Fund Investment in Infrastructure and Global Financial Regulation

Alonso, Javier; Arellano, F. Alfonso; Tuesta, David

doi:10.1093/acprof:oso/9780198787372.003.0010

Cited by 5 publications

(6 citation statements)

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“…Once the project has matured, it provides a stable cash flow, because infrastructure projects tend to operate like natural, regulated monopolies/oligopolies. The lack of competition in markets where these infrastructure projects operate also results in stable asset values (Alonso, Arellano, and Tuesta 2016). In healthcare infrastructure, for example, while aging and longevity risks are a bane to pension funds' sustainability, they are a boon to the healthcare industry.…”

Section: Effects Of Low-interest Environmentmentioning

confidence: 99%

“…26 Countries that have positive pension experiences with infrastructure financing usually have a liberalized capital account and a large share of nonfinancial bonds issues to total outstanding bonds. Infrastructure investment is also positively associated with a good number of securitization deals that help spread the risk to more people (Alonso, Arellano, and Tuesta 2016). In sum, infrastructure financing needs deep financial markets and proper institutional and regulatory frameworks.…”

Section: Effects Of Low-interest Environmentmentioning

confidence: 99%

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Redefining Strategic Routes to Financial Resilience in ASEAN+3

2021

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The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent.ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned.By making any designation of or reference to a particular territory or geographic area, or by using the term "country" in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.

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Section: Effects Of Low-interest Environmentmentioning

confidence: 99%

Section: Effects Of Low-interest Environmentmentioning

confidence: 99%

Redefining Strategic Routes to Financial Resilience in ASEAN+3

2021

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“…With guarantees of inflation-linked revenue, for example, they may even have more stable prices and positive yields than T-bonds, especially if their financial structures are not, in turn, leveraged. Demand has grown accordingly from both pension funds and sovereign wealth funds (Alonso et al, 2015;Arezki et al, 2016). 7 Financially, therefore, the state can be seen as meeting market demand for safe assets without having to produce the safe assets itself: it is leveraging its balance sheet not by issuing public debt per se, but by selling a put option to private developers, with a strike price determined by the conditions of profitability of the infrastructure developer.…”

Section: "Safe" Assetsmentioning

confidence: 99%

The Routledge Handbook of Critical Finance Studies

Borch¹,

Wosnitzer²

2020

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There has been an increasing interest in financial markets across sociology, history, anthropology, cultural studies, and related disciplines over the past decades, with particular intensity since the 2007-2008 crisis which prompted new analyses of the workings of financial markets and how "scandals of Wall Street" might have huge societal ramifications. The sociologically inclined landscape of finance studies is characterized by different more or less wellestablished homogeneous camps, with more micro-empirical, social studies of finance approaches on the one end of the spectrum and more theoretical, often neo-Marxist approaches, on the other.Yet alternative approaches are also gaining traction, including work that emphasizes the cultural homologies and interconnections with finance as well as work that, more broadly, is both empirically rigorous and theoretically ambitious. Importantly, across these various approaches to finance, a growing body of literature is taking shape which engages finance in a critical manner.The term "critical finance studies" nonetheless remains largely unfocused and undefined. Against this backdrop, the key rationales of The Routledge Handbook of Critical Finance Studies are firstly to provide a coherent notion of this emergent field and secondly to demonstrate its analytical usefulness across a wide range of central aspects of contemporary finance.As such, the volume will offer a comprehensive guide to students and academics on the field of Finance and Critical Finance Studies, Heterodox Economics, Accounting, and related Management disciplines.

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“…Funds in Brazil invest 2 percent in infrastructure; funds in Mexico invest 1 percent; while funds in Chile invest only 0.2 percent (Della Croce and Gatti, 2014). The average allocation to infrastructure of the five countries is 2.6 percent, according to Alonso, Arellano, and Tuesta (2015). calculates a regional average allocation of 1.1 percent between 2005 and 2014.…”

mentioning

confidence: 99%

Ahorrar para desarrollarse: Cómo América Latina y el Caribe puede ahorrar más y mejor

Cavallo¹,

Serebrisky²,

Frisancho³

et al. 2016

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Inter-American Development BankThis book is distributed under the terms of the Creative Commons AttributionNonCommercial-NoDerivatives 3.0 IGO license (http://creativecommons.org/ licenses/by-nc-nd/3.0/igo/) and may be reproduced with attribution to the Inter-American Development Bank (IDB) and for any non-commercial purpose. No derivative work is allowed.Any dispute related to the use of the works of the IDB that cannot be settled amicably shall be submitted to arbitration pursuant to the UNCITRAL rules. The use of the IDB's name for any purpose other than for attribution, and the use of IDB's logo shall be subject to a separate written license agreement between the IDB and the user and is not authorized as part of this CC-IGO license. Note that the link provided above includes additional terms and conditions of the license.The images or other third party material in this book are included in the work's Creative Commons license, unless indicated otherwise in the credit line; if such material is not included in the work's Creative Commons license and the respective action is not permitted by statutory regulation, users will need to obtain permission from the license holder to duplicate, adapt or reproduce the material. Open Access This work is distributed under a Creative Commons AttributionNonCommercial-NoDerivatives 3.0 IGO license (http://creativecommons.org/ licenses/by-nc-nd/3.0/igo/) and may be reproduced with attribution to the InterAmerican Development Bank (IDB) and for any non-commercial purpose. No derivative work is allowed. Any dispute related to the use of the works of the IDB that cannot be settled amicably shall be submitted to arbitration pursuant to the UNCITRAL rules. The use of the IDB's name for any purpose other than for attribution, and the use of IDB's logo shall be subject to a separate written license agreement between the IDB and the user and is not authorized as part of this CC-IGO license. Note that the link provided above includes additional terms and conditions of the license. The images or other third party material in this book are included in the work's Creative Commons license, unless indicated otherwise in the credit line; if such material is not included in the work's Creative Commons license and the respective action is not permitted by statutory regulation, users will need to obtain permission from the license holder to duplicate, adapt or reproduce the material. This work is subject to copyright. All commercial rights are reserved by the Inter-American Development Bank, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, ev...

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Pension Fund Investment in Infrastructure and Global Financial Regulation

Cited by 5 publications

References 1 publication

Redefining Strategic Routes to Financial Resilience in ASEAN+3

Redefining Strategic Routes to Financial Resilience in ASEAN+3

The Routledge Handbook of Critical Finance Studies

Ahorrar para desarrollarse: Cómo América Latina y el Caribe puede ahorrar más y mejor

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