Finance & Development articles from June 1995

Finance & Development archives from June 1995

Averting the old-age crisis. (protecting old people's financial support systems)(Pension Reform)
June 1, 1995... Systems of financial support for old people are in trouble worldwide. To ensure that these systems continue to protect the old and promote economic growth, many countries need to consider comprehensive pension reforms. Over the next 35 years,...

Pension schemes: trade-offs between redistribution and saving.(Pension Reform)
June 1, 1995... Many countries' single-pillar public pension systems seek to both generate savings for workers' old age and alleviate poverty among older persons. Since these objectives are inherently contradictory, however, better results may be obtained by...

Costs of administering public and private pension plans.(Pension Reform)
June 1, 1995... Private, decentralized pension plans are sometimes criticized as more expensive to administer than centralized public plans. Such criticism may, however, be based on inaccurate measurements of both the costs and efficiency of public plans. The...

Wage dispersion and job growth in the United States.(Pension Reform)
June 1, 1995... In the United States, the gap the highest and the lowest pay has been getting wider. But job creation has been dynamic. What does this mean for the quality of employment opportunities? Widening wage differentials in the United States have...

Asset prices, monetary policy, and the business cycle.(Pension Reform)
June 1, 1995... Unusual conditions leading up to the business cycle of 1989-93 made it difficult to recognize inflationary pressures. Several industrial countries pursued expansionary policies that caused their economies to overheat; policy corrections then led...

Aftermath of the CFA franc devaluation. (includes related article)
June 1, 1995... Since the devaluation of their common currency in early 1994, the member countries of the CFA franc zone have made great strides toward economic recovery. But much remains to be done to consolidate the initial gains in order to achieve...

Securities markets in China. (includes related article)
June 1, 1995... China's securities markets have expanded rapidly over the past several years, attracting considerable attention from foreign investors. Nonetheless, both their role in the domestic financial system and their reliance on market mechanisms remain...

What can we learn from China's export strategy? (includes related article)
June 1, 1995... As much by luck as by design, China stumbled onto an export and foreign investment strategy that has proved remarkably successful, helping the economy move quickly to a market-based system. But can the Chinese experience serve as a model for...

China: a new power in world trade.
June 1, 1995... As China emerges as a major trading power, other developing countries that export labor-intensive manufactured products are likely to find the competition intense. High-income countries will probably benefit, both as importers of Chinese...

Exploiting competitive opportunities in telecommunications.
June 1, 1995... As countries throughout the world open the telecommunications market to competition, they are finding that the hurdles they face are largely political and institutional. The good news is that practical ways exist to overcome the hurdles. In...

The IMF fifty years later. (International Monetary Fund)(includes related article)
June 1, 1995... Over its 50-year history, the IMF, while remaining the watchdog of the international monetary system, has broadened the scope of its activities in response to crises and changes in the world economy. In recent years, it has introduced several new...

The postwar economic achievement. (world economy)
June 1, 1995... The Bretton Woods Conference of 1944 paved the way to currency convertibility and a more open trading system, which have stimulated economic growth, increased economic interdependence among nations, and underscored the benefits of international...