The Effects of Capital Controls on the Return on Assets of the Icelanic Pension Funds
Icelandic authorities implemented capital controls in October 2008, in a response to the global financial crisis and to prevent outflow of foreign reserves. This was done to protect the Icelandic krona from depreciating and to gain monetary autonomy. However, the operational activity of the pension funds in Iceland has been affected by this policy change, as the funds have been missing out on fore
