Without plumbing the depths of each type of tool, I’ll say a  BIS central bankers’ speeches  3  few words about each as it relates to the curbing of excess credit growth that fuels asset bubbles and to mitigating the effects of a bubble’s collapse.
The impact of globalisation on retirement funds comes from enhanced competition, raised mobility of factors of production and a greater need to diversify portfolios globally. Given the improved sophistication of local institutional investors in managing foreign assets, it is therefore understandable that the local retirement fund industry is calling for a greater opportunity to place offshore investments.