IDEAS home Printed from https://ideas.repec.org/a/vrs/suvges/v31y2021i2p1-19n5.html
   My bibliography  Save this article

Macroeconomic Impact of Pension System Upon Private Pension Funds Scheme. Empirical Evidence from Central and Eastern European Countries

Author

Listed:
  • Dumiter Florin Cornel

    (“Vasile Goldiș” Western University of Arad, Romania)

  • Jimon Ștefania Amalia

    (“Vasile Goldiș” Western University of Arad, Romania)

  • Balteș Nicolae

    (“Lucian Blaga” University of Sibiu, Romania)

Abstract

The significance of retirement savings and private pension funds increased in the latest decades and gathered important amounts of capitals. The purpose of this paper is to investigate the macroeconomic effects of pension systems from an investment perspective in five Central and Eastern European countries. The analyzing process regarding several underlying macroeconomic effects of pension systems started from the premises that there is a strong connection between the structure of pension systems, the national economy and the development of the financial sector. The econometric tests were processed and applied by using pool data regression models and the method Pooled Instrumental Variables (IV) - Two-stage Least Squares (2SLS). The main conclusion highlights that the interest rate at deposits is correlated with the amount of incomes earned by population, inflation rate, severe material deprivation rate and the investment strategy of private pension funds.

Suggested Citation

  • Dumiter Florin Cornel & Jimon Ștefania Amalia & Balteș Nicolae, 2021. "Macroeconomic Impact of Pension System Upon Private Pension Funds Scheme. Empirical Evidence from Central and Eastern European Countries," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 31(2), pages 1-19, June.
    • Handle: RePEc:vrs:suvges:v:31:y:2021:i:2:p:1-19:n:5
    DOI: 10.2478/sues-2021-0006
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/sues-2021-0006
    Download Restriction: no
    File URL: https://libkey.io/10.2478/sues-2021-0006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Pension systems; Investment funds scheme; Equities; Macroeconomic effects;
    All these keywords.

    JEL classification:

    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:suvges:v:31:y:2021:i:2:p:1-19:n:5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.