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Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors

Can creditor bail-in trigger contagion? The experience of an emerging market

Roy Havemann
The successful bail-in of creditors in African Bank, a small South African monoline lender, provides an opportunity to evaluate the intended and unintended consequences of new resolution tools. Using a data set that matches quarterly, daily and nancial-instrument level data, I show that the bail-in...
Jul 2018
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Economies of Scale and Pension Fund Plans: Evidence from South Africa

Albert Touna Mama, Neryvia Pillay and Johannes W. Fedderke
The focus of this paper is on the presence of economies of scale in administering pension funds. We make use of a unique dataset with extensive information on South African retirement funds from 1996 to 2006. For almost fifty years now, South Africa has operated under a system with small social...
Apr 2011
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