Abstract
ABSTRACTThis paper analyses the financial assets of institutional investors and pension funds to estimate how the change in portfolio affects returns and whether the realisation of returns can improve macroeconomic prudence. From the analysis, this paper offers several findings. First, the increase in the weighted return rates of institutional investors and pension funds lowers GDP volatility and improves macroeconomic prudence. Second, the portfolio composition effect of institutional investors and pension funds can also affect improving macroeconomic prudence. And the effect of composition effect in macroeconomic prudence improvement is greater in countries with high financial openness, for both institutional investors and pension funds.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
