IDEAS home Printed from https://ideas.repec.org/p/zbw/zeswps/102004.html
   My bibliography  Save this paper

Pension policies after EU enlargement: Between financial market integration and sustainability of public finances

Author

Listed:
  • Wehlau, Diana
  • Sommer, Jörg

Abstract

On May 1st, 2004, the European Union (EU) carried out the most comprehensive enlargement since its establishment in 1957 with the accession of eight Central- and Eastern European Countries (CEEC) as well as Malta and Cyprus. Within this enlarged EU two major political aims were set up, namely the integration of financial markets on the one hand and the sustainability of public finances as well as of pension systems on the other hand. With the example of the recently accessed countries, this paper links these two objectives and raises the question, whether central EU authorities attempt to push for (further) pension privatisation in the new Member States of the enlarged EU in order to promote a single, globally competitive financial market. This paper gives no definite empirical evidence for this link. However, the emerging tendencies in this area call for further research.

Suggested Citation

  • Wehlau, Diana & Sommer, Jörg, 2004. "Pension policies after EU enlargement: Between financial market integration and sustainability of public finances," Working papers of the ZeS 10/2004, University of Bremen, Centre for Social Policy Research (ZeS).
  • Handle: RePEc:zbw:zeswps:102004
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/41519/1/559024045.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ajit Singh, 1998. "Pension Reform, the Stock Market, Capital Formation and Economic Growth: A Critical Commentary on the World Bank’s Proposals," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 2(8-7), pages 51-78.
    2. Robert Holzmann & Joseph E. Stiglitz, 2001. "New Ideas about Old Age Security : Toward Sustainable Pension Systems in the 21st Century," World Bank Publications - Books, The World Bank Group, number 13857.
    3. Barr, Nicholas, 2002. "Reforming pensions: myths, truths, and policy choices," LSE Research Online Documents on Economics 286, London School of Economics and Political Science, LSE Library.
    4. Gary Burtless, 2000. "Social Security Privatization and Financial Market Risk: Lessons from U.S. Financial History," Discussion Papers of DIW Berlin 211, DIW Berlin, German Institute for Economic Research.
    5. Grimmeisen, Simone, 2004. "Path dependence and path departure: Analysing the first decade of post-communist pension policy in Hungary, Poland and the Czech Republic," Working papers of the ZeS 01/2004, University of Bremen, Centre for Social Policy Research (ZeS).
    6. Willem Adema, 2001. "Net Social Expenditure: 2nd Edition," OECD Labour Market and Social Policy Occasional Papers 52, OECD Publishing.
    7. Whitehouse, Edward, 1999. "The tax treatment of funded pensions," MPRA Paper 14173, University Library of Munich, Germany.
    8. Elaine Fultz, 2004. "Pension Reform in the EU Accession Countries: Challenges, Achievements and Pitfalls," International Social Security Review, John Wiley & Sons, vol. 57(2), pages 3-24, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zaidi, Asghar & Grech, Aaron George & Fuchs, Michael, 2006. "Pension policy in EU25 and its possible impact on elderly poverty," LSE Research Online Documents on Economics 6225, London School of Economics and Political Science, LSE Library.
    2. Schmähl, Winfried, 2005. "Nationale Rentenreformen und die Europäische Union: Entwicklungslinien und Einflusskanäle," Working papers of the ZeS 03/2005, University of Bremen, Centre for Social Policy Research (ZeS).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Geri, Milva, 2022. "Pension arrangements and economic thinking: unreal assumptions and false predictions in the case of Argentina," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    2. Gustavo DeSantis, 2014. "More with less: the Almost Ideal Pension Systems (AIPS)," Vienna Yearbook of Population Research, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna, vol. 12(1), pages 169-192.
    3. Mesa-Lago, Carmelo, 2004. "An appraisal of a quarter-century of structural pension reforms in Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    4. Armstrong, Angus & Davis, Philip & Ebell, Monique, 2015. "An economic analysis of pension tax proposals," LSE Research Online Documents on Economics 86276, London School of Economics and Political Science, LSE Library.
    5. Gollier, Christian, 2008. "Intergenerational risk-sharing and risk-taking of a pension fund," Journal of Public Economics, Elsevier, vol. 92(5-6), pages 1463-1485, June.
    6. David Robalino, 2005. "Pensions in the Middle East and North Africa: Time for Change," World Bank Publications - Books, The World Bank Group, number 7427.
    7. van Dalen, Hendrik Peter & Henkens, Kene, 2018. "Do people really want freedom of choice? : Assessing preferences of pension holders," Other publications TiSEM 448e8a93-9ded-401f-9da0-7, Tilburg University, School of Economics and Management.
    8. Assar Lindbeck & Mats Persson, 2003. "The Gains from Pension Reform," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 74-112, March.
    9. Stiglitz, Joseph E., 2002. "New perspectives on public finance: recent achievements and future challenges," Journal of Public Economics, Elsevier, vol. 86(3), pages 341-360, December.
    10. Pierre Concialdi, 2006. "Demography, the cost of pensions and the move to pension funds," Review of Political Economy, Taylor & Francis Journals, vol. 18(3), pages 301-315.
    11. Emile Cammeraat, 2020. "The relationship between different social expenditure schemes and poverty, inequality and economic growth," International Social Security Review, John Wiley & Sons, vol. 73(2), pages 101-123, April.
    12. Disney, Richard & Whitehouse, Edward, 1999. "Pension plans and retirement incentives," Social Protection Discussion Papers and Notes 20851, The World Bank.
    13. Eduardo Walker & Fernando Lefort, 2002. "Pension Reform And Capital Markets: Are There Any (Hard) Links?," Abante, Escuela de Administracion. Pontificia Universidad Católica de Chile., vol. 5(2), pages 77-149.
    14. Stefan Domonkos & Andras Simonovits, 2016. "Pensions in transition in EU11 countries between 1990 and 2015," CERS-IE WORKING PAPERS 1615, Institute of Economics, Centre for Economic and Regional Studies.
    15. Jorge Miguel Bravo, 2016. "Taxation of Pensions in Portugal: Is there a Rationale for a Semi-Dual Income Tax System?," CESifo Working Paper Series 5981, CESifo.
    16. John B. Williamson & Matthew Williams, 2005. "Notional Defined Contribution Accounts," American Journal of Economics and Sociology, Wiley Blackwell, vol. 64(2), pages 485-506, April.
    17. Dirk Krueger & Felix Kubler, 2006. "Pareto-Improving Social Security Reform when Financial Markets are Incomplete!?," American Economic Review, American Economic Association, vol. 96(3), pages 737-755, June.
    18. Srinivas, P.S. & Whitehouse, Edward & Yermo, Juan, 2000. "Regulating private pension funds’ structure, performance and investments: cross-country evidence," MPRA Paper 14753, University Library of Munich, Germany.
    19. Alber, Jens, 2009. "What the European and American welfare states have in common and where they differ: Facts and fiction in comparisons of the European social model and the United States," Discussion Papers, Research Unit: Inequality and Social Integration SP I 2009-203, WZB Berlin Social Science Center.
    20. Koen Caminada & Kees Goudswaard, 2009. "Effectiveness of Poverty Reduction in the EU: A Descriptive Analysis," Poverty & Public Policy, John Wiley & Sons, vol. 1(2), pages 1-49, July.

    More about this item

    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:zbw:zeswps:102004. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/zesbrde.html .

    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.