Pension Fund Capitalism
Gordon L. Clark
Price: £34.00 (paper) ISBN-13: 978-0-19-924048-7 Publication date: 9 March 2000 368 pages, 14 figures, 234x156 mm
Series: Oxford Geographical and Environmental Studies Series Search for
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| Reviews |
| - 'there are a number of original insights ... This is an excellent book to read to become familiar with the main public policy issues in institutional investment management and pensions. ... Something of a tour de force is the way in which Clark brings in Krugman's work on economic geography (1991) to explain the structure of the investment management industry.' - Mike Orszag, Journal of Economic
Geography, 1, 2001
- 'Underpinning the many insights is the familiarity of the author with all aspects of the process of pension fund investment, derived from interviews in many parts of the world with trustees, consultants, investment managers and regulators. The insights derived from these interviews shines through the analytical work and ensures its ongoing relevance to real world issues.' - E.Phillip Davis,
Investment & Pensions Europe, Jul/Aug. 00.
- 'One of the rich aspects of the book is the exploration of Anglo-American law as a background for the role of pension fund trustees and their fiduciary responsiblities. This is an aspect that should be of particular interest to those in continental Europe seeking to set up pension funds from scratch. The book is also highly relevant to the UK government initiative to assess the modus operandi
of institutional investment.' - E. Phillip Davis, Investment & Pensions Europe, Jul/Aug. 00.
- 'Even those not interested directly in the topic of urban infrastructure investment ... will find the book rewarding, as a source of challenging, original thinking on fundamental issues linked to the investment of pension assets.' - E. Phillip Davis, Investment & Pensions Europe, Jul/Aug. 00.
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| Description | | - Well-known author
- Topical and contemporary subject
- Significant contribution to an understanding of pension funds and also wider transformations in Anglo-American capitalism
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The growth of pension funds has been nothing short of astronomical. Pension funds now dominate the world's financial markets, affecting nations' wealth, community development, and industrial well being. Yet little is known about their structure and organization. Pension funds and their agents in the investment industry control enormous sums of money, profoundly affecting the structure and
performance of nation-states and the global economy. At the same time, it is also apparent that many western governments are retreating from the provision of 'public good' once thought essential to the fabric of urban life. Clark agues that if we are to understand the long-term future of the western economies (in general) and our communities (in particular), we need also to understand how
institutional investors allocate assets, mobilize funds, and make investment decisions.
There are few studies of the relationship between pension funds and the financial services industry. Pension Fund Capitalism
fills an important gap in the literature as well as the intersection between pension funds and public policy.
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| Contents |
The State in Retreat
Pension Fund Capitalism
Functional and Spatial Structure of investment Management
Competition and Innovation in Investment Management
Pension Fund Trustee Decision Making
Corruption and Investment Decision Making
Four models of Financial Intermediation
Provision of Urban Infrastructure
Contested Terrain
Community and Solidarity
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| Authors, editors,
and contributors | Gordon L. Clark, Halford McKinder Professor of Geography and Fellow, St Peter's College, University of Oxford
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