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Challenges for the Romanian Public Pensions System in the Current Economic and Financial Crisis

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  • Anca-Stefania Sava

Abstract

This paper aims to address the challenges for the Romanian public pensions system in the current economic and financial crisis. Firstly, are presented the defining indicators of the Romanian public pension system, such as number of pensioners, the number of taxpayers, the dependency ratio pensioners/contributors, public pension expenditure as a percentage of GDP, etc. The article illustrates the challenges regarding the sustainability of the pension system to the aging population and the main predictions of specialized financial institutions on public pension expenditure for the next period. It also presents the current abuses of public pension system and the measures taken by the Romanian authorities to reform it.

Suggested Citation

  • Anca-Stefania Sava, 2010. "Challenges for the Romanian Public Pensions System in the Current Economic and Financial Crisis," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 15.
    • Handle: RePEc:bac:fsecub:10-15-23
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    File URL: http://sceco.ub.ro/DATABASE/repec/pdf/2010/20101523.pdf
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    References listed on IDEAS

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    1. Robert Holzmann, 2009. "Aging Population, Pension Funds, and Financial Markets : Regional Perspectives and Global Challenges for Central, Eastern, and Southern Europe," World Bank Publications - Books, The World Bank Group, number 2606, December.
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    More about this item

    Keywords

    Romanian public pension system; public pension expenditure; economic and financial crisis;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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