Competition and Performance in the Polish Second Pillar

This paper provides an assessment of the Polish funded pension system and the quality of the regulatory framework for the accumulation phase. There are two elements that distinguish the Polish pension fund portfolios from other reforming countries&...

Full description

Bibliographic Details
Main Authors:	Rudolph, Heinz, Rocha, Roberto
Format:	Publication
Language:	English en_US
Published:	Washington, DC: World Bank 2012
Subjects:	ACCOUNT HOLDERS ACCOUNTING ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET MANAGER ASSET MANAGERS ASSET VALUE ASSET VALUES BANKING SYSTEM BASIS POINTS BENCHMARK BOND BINDING CONSTRAINT BOND INDEX BOND INSTRUMENTS BROKER BROKERS CAPITAL FUNDS CAPITAL GAINS CAPITAL MARKET DEVELOPMENT CAPITAL REQUIREMENTS CLEARING HOUSE COLLECTIVE FUNDS CONSUMER PROTECTION CORPORATE BOND CORPORATE BOND MARKET CORPORATE BONDS CORPORATE GOVERNANCE CREDIT RATINGS CREDIT RISK CREDIT RISKS CURRENCY CUSTODIAN BANK CUSTODIAN BANKS CUSTODY DEBT ISSUES DEBT MANAGEMENT DEBT MANAGEMENT GUIDELINES DEFICITS DEPOSIT DEPOSITS DERIVATIVES DISCLOSURE REQUIREMENTS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC DEBT DOMESTIC EQUITY EQUITIES EQUITY FUNDS EQUITY HOLDINGS EQUITY INDEX EQUITY MARKET EQUITY MARKETS EXCESS LIQUIDITY EXCHANGE COMMISSION EXPENDITURE EXPENDITURES FINANCIAL ASSETS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL RISK FINANCIAL STATEMENTS FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FIXED INCOME FIXED INCOME PORTFOLIO FIXED INCOME PORTFOLIOS FIXED INCOME SECURITY FLOW OF INFORMATION FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTOR FOREIGN INVESTORS FREE ASSET FREE RIDER PROBLEM FUND MANAGEMENT FUND MANAGERS FUTURES GENERAL OBLIGATION BONDS GOVERNMENT BOND GOVERNMENT BONDS GOVERNMENT DEFICIT GOVERNMENT SECURITIES MARKET GRACE PERIOD GUARANTEE FUND HOLDING INCOME INSTRUMENTS INDIVIDUAL BONDS INFLATION INFLATION RATE INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEBT INTERNATIONAL DIVERSIFICATION INTERNATIONAL SECURITIES INTERNATIONAL STANDARDS INVESTING INVESTMENT BANK INVESTMENT FUND INVESTMENT FUNDS INVESTMENT HORIZONS INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT REGIME INVESTMENT REGULATION INVESTMENT RESTRICTIONS ISSUANCE JOINT STOCK COMPANIES LABOR MARKETS LIQUID BENCHMARKS LIQUID INSTRUMENTS LIQUIDITY LIQUIDITY RATIO LOCAL GOVERNMENTS LOCAL MARKET LONG-TERM INVESTOR MARKET CAPITALIZATION MARKET CONDITIONS MARKET FOR GOVERNMENT DEBT MARKET INFRASTRUCTURE MARKET LIQUIDITY MARKET PRICES MARKET SHARES MARKET STRUCTURE MATURITIES MATURITY MATURITY SPECTRUM MATURITY STRUCTURE MORAL HAZARD MORTGAGE MORTGAGE BOND MORTGAGE BOND MARKET MORTGAGE BONDS MORTGAGE LOANS MORTGAGE-BACKED SECURITIES MUNICIPAL BOND MUNICIPAL BOND MARKET MUNICIPAL BONDS MUTUAL FUND MUTUAL FUNDS NATIONAL DEPOSITORY NATIONAL SAVINGS PENSION PENSION ASSET PENSION ASSETS PENSION FUND PENSION FUND ASSETS PENSION FUNDS PENSION REFORM PENSION SYSTEM PENSION SYSTEMS PENSIONS PORTFOLIO PORTFOLIO CHOICE PORTFOLIO DIVERSIFICATION PORTFOLIOS PORTFOLIOS OF PENSION FUNDS PRIVATE EQUITY PRIVATE INVESTMENT PROFIT MARGINS PUBLIC DEBT PUBLIC MARKET RATE OF RETURN RATES OF RETURN REAL INTEREST REAL INTEREST RATES REGULATORY FRAMEWORK REINVESTMENT REINVESTMENT RISK REINVESTMENT RISKS RESERVE RESERVE REQUIREMENT RESERVES RETURNS REVENUE BOND REVENUE BONDS RISK EXPOSURES RISK MANAGEMENT RISK MANAGEMENT SYSTEMS RISKY ASSET SAVINGS RATES SAVINGS RATIOS SHARE OF EQUITY SHARE OF GOVERNMENT SECURITIES SHAREHOLDERS SHARES OF INVESTMENT SHARES OF INVESTMENTS STOCK EXCHANGE STOCKS STRATEGIC INVESTORS SUPERVISORY AUTHORITIES SUPERVISORY BOARD SWAPS T-BILLS T-BONDS TAX TAX INCENTIVES TRADING TRANSFER AGENTS TREATY TURNOVER UNDERLYING ASSETS UNIVERSAL BANKING UNIVERSAL BANKS VALUATION VALUATIONS WITHDRAWAL YIELD CURVE YIELD CURVES YIELD SPREADS
Online Access:	http://documents.worldbank.org/curated/en/2007/01/8100215/competition-performance-polish-second-pillar http://hdl.handle.net/10986/6775

Internet

http://documents.worldbank.org/curated/en/2007/01/8100215/competition-performance-polish-second-pillar
http://hdl.handle.net/10986/6775

Competition and Performance in the Polish Second Pillar

Internet

Similar Items