Ageing, Pension Reforms and Capital Market Development in the New EU Member States and Other Transition Countries

14 Pages Posted: 9 Jan 2008

See all articles by Johan Almenberg

Johan Almenberg

affiliation not provided to SSRN

Christiane Nickel

European Central Bank (ECB)

Date Written: August 17, 2007

Abstract

We present new data on asset allocations of mandatory pension funds in the new EU member states and in other transition countries. Our comparative national data presents a unique opportunity to compare pension reform progress across these countries from a capital market perspective. Our main finding is that in a number of new EU member states and other transition countries, under-diversification of assets threatens to undermine the impact of multi-pillar reform on fiscal sustainability.

Keywords: Pension reform, Transition economies

JEL Classification: G32, P35

Suggested Citation

Almenberg, Johan and Nickel, Christiane, Ageing, Pension Reforms and Capital Market Development in the New EU Member States and Other Transition Countries (August 17, 2007). IFN Policy Paper No. 17, Available at SSRN: https://ssrn.com/abstract=1082007 or http://dx.doi.org/10.2139/ssrn.1082007

Johan Almenberg (Contact Author)

affiliation not provided to SSRN

Christiane Nickel

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

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