Bøger af Ingo Walter

America faces two public finance challenges that - if left unaddressed - will have serious implications for the fiscal stability of state and local governments and for the quality of life of all Americans. The funded status of public pension plans and the state of the country's critical infrastructure are generally viewed as distinct subjects. This book argues otherwise. Over the long term, when one of them deteriorates, the other is sure to follow. Moreover, infrastructure investments are well suited to the portfolio needs of public pension plans, which themselves comprise the single largest pool of capital potentially available for the financing needs of American infrastructure and today are under-allocated to this asset type.This book begins with an analysis of the $4.3 trillion U.S. public pension system, drawing on a primary dataset comprising thousands of observations drawn from a decade of annual reports of the 25 largest American public pension systems - which together comprise about 55% of all public pension assets in the country. It then links sustainable pension finance to investments in real assets, specifically infrastructure projects."Bridging the Gaps" is intended to provide greater transparency to the complex public finance challenges that mark these issues. Those with an interest in the public pension system will learn much from the discussion of these complex organizations - so critical to sustainability of retirement benefits. Asset managers and other advisors, who sell to these investors, will benefit from an empathic approach to understanding the needs of their most important clients. The book concludes with a range of ideas that can be explored by responsible public officials and policymakers as well as infrastructure agencies and their advisors.The ultimate objective is to help in the search for solutions to the persistent gaps facing America's public pension system and at the same time unlocking capital to reduce America's persistent infrastructure problems - creating winners on both ends of the financial chain.

"Infrastructure and its effects on economic growth, social welfare, and sustainability receive a great deal of attention today. There is widespread agreement that infrastructure is a key dimension of global development and that its impact reaches deep into the broader economy with important and complex implications for social progress. At the same time, infrastructure finance is among the most complex and challenging areas in the global financial architecture. Ingo Walter, Professor of Finance, Corporate Governance and Ethics Emeritus at the Stern School of Business, New York University, and his team of experts tackles the issue by focussing on key findings backed by serious theoretical and empirical research. The result is a set of viable guideposts for researchers, policy-makers, students and anybody interested in the complex challenges of contemporary economy. " This work was published by Saint Philip Street Press pursuant to a Creative Commons license permitting commercial use. All rights not granted by the work's license are retained by the author or authors.