November 2022

México en la fábrica de América del Norte y el nearshoring

Por Garrido, Celso En este estudio se analizan los procesos de inversión en México en el contexto del nearshoring producido por la relocalización de las inversiones en las cadenas globales de producción, como parte del cambio en la estructura regional de las cadenas globales de producción identificada por las fábricas globales de Europa, Asia y América del Norte, en la que está incluido México. El cambio detonado por las crisis en cuso desde 2008 abrió un debate sobre el futuro...

Revisión bibliográfica sobre inclusión financiera como estrategia de recuperación y de crecimiento fintech

Por Daniel Cardona Valencia El presente artículo pretende dar un acercamiento a la inclusión financiera digital desde la visión post-COVID-19 como posible herramienta de desarrollo y resiliencia. Mediante un seguimiento bibliográfico de análisis institucionales, investigaciones académicas e informes de entidades relevantes, se hace un mapeamiento de los aportes y recomendaciones sobre la temática en materia de recuperación económica. En los resultados se confirma la trascendencia de la inclusión financiera digital como elemento aportante a la reconstrucción y fortalecimiento del flujo...

Pensar un nuevo modelo de desarrollo para América Latina y el Caribe

Por Josette Altmann-Borbón América Latina enfrenta una situación compleja producto de una acumulación de crisis que se vienen arrastrando desde hace décadas y han venido a empeorar los graves problemas estructurales de las sociedades. Problemas como la desigualdad, la pobreza, la inequidad, la inseguridad, la degradación ambiental, las violencias, el desempleo, el crimen organizado, la corrupción y la impunidad, a los que se suman ahora los efectos negativos de la pandemia por la COVID-19 y la guerra en Ucrania, generando...

P&I Research Center. Public Pension Plan Benchmarks

Prepared by: Valerie Ge, CFA Research Analyst This report intends to provide insights into the overall and asset class benchmarks selected by the 50 largest U.S. public defi ned benefi t plans. The top 50 plans are selected based on their reported U.S. DB asset totals in Pensions & Investments’ 2021 survey. Eleven out of 50 plans did not disclose enough detailed information, and 10 plans had a fi scal year ended other than June 30. Insights into the overall and...

Colombia. Los peros de los fondos privados a la propuesta de reforma pensional del Gobierno

Esta semana empezaron a darse algunas de las primeras puntadas de una controversia que seguramente será muy intensa en los próximos meses. Esa polémica tiene que ver con el futuro de las pensiones en el país. En la instalación de la subcomisión de la reforma pensional, el Gobierno Nacional presentó su borrador de propuesta que recoge las ideas que ya había expuesto en campaña el presidente Petro y que apuntan a un sistema de pilares en el que las personas...

UK regulators call for action on hidden leverage threat to pension funds

Regulators and policymakers are calling for action to address the risks associated with pension funds’ use of derivatives, after key watchdogs admitted last week that they were unprepared for the crisis that hit the industry in September. The meltdown, now the focus of four separate parliamentary probes, revealed regulators did not have a reliable picture of the scale of hidden leverage in liability-driven investment (LDI) strategies, which cover about £1.4tn of the future promises made by UK defined benefit pension...

US. As Biden turns 80, people ask ‘What’s too old?

Joe Biden turns 80 on Sunday, making him the first octogenarian president in U.S. history. He is set to celebrate his birthday with a brunch hosted by his wife, Jill, a celebration that got an extra lift this weekend with his granddaughter's wedding at the White House on Saturday. With Biden already the oldest person to serve as president, the 2024 race for the White House is shaping up to be uncharted territory for the United States. The nearly 250-year old...

Japan seen setting 2023 pension rise below inflation

Japan is expected to curb pension payment rises at rates below that of inflation, according to Nippon Life Insurance's research arm. NLI Research Institute has forecast an inflation rate of 2.5% for full-year 2022, but it expects the government to set the increase in pension payments for those aged 68 and above at only 1.8% for next year. It expects those aged 67 and younger to get a pension rise of 2.1% in 2023. Although there are worries that the financial...

India. Government pension funds need more lucrative investment avenues to quell controversy between old and new schemes

By Gautam Mukherjee When the Vajpayee administration introduced the new pension system (NPS) for Central and other government employees commencing on 1 January 2004, the motivation was to ensure long-term viability. It is mandatory for the Central government employees and a few other entities. Much greater longevity had complicated the calculations on the old pension system (OPS). The threat of a bankrupt state defaulting on pensions, such as West Bengal, Kerala or Punjab today, was already beginning to loom large in...

Economic growth, wealth, and wellbeingIs there an intergenerational divide?

By Miguel Artola Blanco This paper reviews the main mechanisms that explain the growing divergence in economic well-being between age groups. The changing patterns in the labour market are well documented and consistently show that young workers have been negatively impacted by the reductions in relative skill premiums, the rise of new forms of contracting (part-time and freelance), and the growing weight of unemployment. Wealth inequalities are also rising, not only for the most obvious transmission channel (savings) but also...