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  • 2-novembre-2020

    Français

    Recueil de l’OCDE de bonnes pratiques gouvernementales en matière d'investissements de qualité dans les infrastructures

    Le Recueil de l'OCDE de bonnes pratiques gouvernementales en matière d’investissements de qualité dans les infrastructures comprend un ensemble de bonnes pratiques et de mesures internationales intégrées et multidisciplinaires qui sont pertinentes pour les pays développés et en développement dans la poursuite d'investissements de qualité dans les infrastructures.

    Documents connexes
  • 6-October-2020

    English

    Green Infrastructure in the Decade for Delivery - Assessing Institutional Investment

    Building green is not only imperative to achieve global climate and development commitments in this 'decade for delivery', but will also be critical to sustain socio-economic development during the COVID-19 recovery. Private investment in particular is needed to bridge the infrastructure investment gap, given institutional investors’ large pools of long-term capital. After several years of efforts to upscale institutional investment in infrastructure, where does the level of investment stand today? This report provides a first-of-its-kind empirical assessment of investment in infrastructure by institutional investors domiciled in OECD and G20 countries, presenting a snapshot from February 2020. Based on a new detailed view of investment channels, financial instruments, sectoral allocations, regional preferences and trends, the report provides guidance on policy levers and priorities to scale-up institutional investment in green infrastructure.
  • 29-September-2020

    English

    Sustainable and resilient finance

    29/09/2020 - The COVID-19 pandemic has highlighted an urgent need to consider resilience in finance, both in the financial system itself and in the role played by capital and investors in making economic and social systems more dynamic and able to withstand external shocks. The 2020 OECD Business and Finance Outlook focuses on the environmental, social and governance (ESG) factors that are rapidly becoming a part of mainstream finance.

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  • 13-August-2020

    English

    The political economy of the G20 agenda on financial regulation

    The paper empirically examines the implementation record of international financial regulation of the banking sector. The study finds that the size of the banking sector and the presence of global systemically important banks (G-SIBs) are positively associated with a stronger implementation record. These results suggest that cooperative motives of internalising externalities, creating a level playing field and preserving financial stability play a role in explaining the implementation record. We find evidence that this cooperative behaviour may be driven by the self-interest of global players as the positive record is particularly strong in countries where large banking sectors and big banks are both present, and where regulation only applies to large players. Sectoral concentration, bank health and the share of foreign ownership yield more mixed results as regards their impact on implementation.
  • 6-August-2020

    English

    Corporate debt stress testing: A global analysis of non-financial corporations

    High-yield corporate and leveraged loans have grown substantially over the past decade. However, the COVID-19 pandemic means downside risks are rising alongside expectations of severe negative impacts on corporate earnings and economic growth. The proportion of leveraged corporate debt exposed to such downside risks has become a key concern. This paper assesses the magnitude of indebtedness of leveraged non-financial companies and identifies the share of debt related to the riskiest firms. A stress test analysis examines the sensitivity of corporate debt to potential macroeconomic and financial shocks. The results show a sharp deterioration in the credit quality of firms, particularly in the United States and Emerging Market Economies (EMEs). Under stressed conditions, all these countries, China included, would experience a sharp rise in the number of firms considered at risk or distressed due to deteriorating cash flows and the inability to make interest payments, thereby becoming more likely to default.
  • 24-July-2020

    English

    G20/OECD Report on the Collaboration with Institutional Investors and Asset Managers on Infrastructure

    This report reflects investors’ views on issues and challenges affecting private investment in infrastructure and presents a set of proposals to improve the investment environment for infrastructure. Over 100 investors participated and shared inputs, reflecting diverse views on infrastructure investment in global markets.

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  • 21-July-2020

    English

    The changing structure of financial intermediation in Asia: Benefits and risks

    Over the past two decades, Asian economies have experienced rapid capital market growth and profound changes in the structure of their financial systems. This paper analyses key developments in advanced and emerging Asian economies since the global financial crisis, focusing on market intermediation of sovereign and corporate debt, equity market development, and the growth of alternative finance and structured products. This enables a forward-looking assessment of the extent to which developments in the medium term may contribute to rising risks in the stability of financial intermediation and sustainable long-term growth with a view to informing policy discussions on economic opportunities and associated risks.
  • 29-June-2020

    English, PDF, 1,137kb

    Insurance Markets in Figures, 2020

    29 June 2020 - Preliminary data for 2019 show that gross premiums rose in most countries, especially in the non-life sector, continuing the global growth observed in recent years. The COVID-19 pandemic may however curb the positive premium and investment income growth.

  • 10-June-2020

    English, PDF, 1,250kb

    Pension Funds in Figures 2020

    10/06/2020 - Preliminary data for 2019 show that pension funds held USD 32.3 trillion in the OECD area and USD 0.7 trillion in 29 other jurisdictions. The US exhibited the largest amount of assets in pension funds at end-2019 (USD 18.8 trillion), followed by the UK (USD 3.6 trillion), Australia (USD 1.8 trillion), Netherlands (USD 1.7 trillion), Canada (USD 1.5 trillion),Japan (USD 1.4 trillion) and Switzerland (USD 1.0 trillion).

  • 30-March-2020

    English

    Structural developments in global financial intermediation: The rise of debt and non-bank credit intermediation

    This paper examines global credit intermediation through the lens of financial markets and financial intermediaries in the post-crisis period during which highly accommodative monetary policies contributed to investors’ search for yield. It reviews the extent to which non-bank intermediation contributed to the rise of sovereign and corporate debt levels and exuberance in global credit markets. It also assesses forms of market-based finance that are contributing to financial vulnerabilities, including leverage loans and collateralised loan obligations (CLOs), fixed-income investment funds, and bank contingent convertible debt. Post-crisis policy frameworks should adapt to the shift toward market-based finance in many countries to allow better consideration of the interactions between monetary, prudential, and regulatory tools with respect to credit intermediation and risks. Policies should also consider the optimal combination of macroprudential and activities-based tools in non-bank credit intermediation to address vulnerabilities without undermining the benefits of market-based finance.
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