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Vol 22 No 2 Feb/March 2017

Book of the Month

Cover of Spencer Bower: Reliance-Based Estoppel

Spencer Bower: Reliance-Based Estoppel

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Pension Fund Capitalism

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Gordon ClarkHalford McKinder Professor of Geography and Fellow, St Peter's College, Oxford

ISBN13: 9780199240487
ISBN: 0199240485
Published: September 2000
Publisher: Oxford University Press
Format: Paperback
Price: £56.00

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.

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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.