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Pension Funds as Vehicle of Better Dynamics for the Capital Markets

Author

Listed:
  • Barna Flavia

    (West University of Timisoara, Faculty of Economics and Business Administration)

  • Nachescu Miruna Lucia

    (West University of Timisoara, Faculty of Economics and Business Administration)

Abstract

The paper aims the analysis the investment strategies adopted by the private pension funds in OECD countries and the relation between the level of development of the financial system and the impact pension funds have on the capital market in these countries. On the short term, in the countries characterised by a developed financial system, pension funds generate an increase in the market capitalization as well as in the transactions volume. For the countries with immature financial systems, the positive effects estimated are less sustainable. Further, the paper underlines the changes generated by the global financial crises in the assets administrated by the pension funds in OECD countries and shows the fundamental role funds have in increasing the activities of the capital markets.

Suggested Citation

  • Barna Flavia & Nachescu Miruna Lucia, 2012. "Pension Funds as Vehicle of Better Dynamics for the Capital Markets," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 997-1002, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:997-1002
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    More about this item

    Keywords

    pension funds; capital market; financial assets; crises;
    All these keywords.

    JEL classification:

    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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