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Funded Pension System Of Armenia: Problems, Development Prospects, Role In Economic Growth

Author

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  • Mariam Voskanyan

    (RAU of Yerevan)

Abstract

The pension fund system, both in theory and in practice, solves many important problems from the point of view of the country's economic development. In particular, the social issue is being solved, in many respects it contributes to equalizing the incomes of the population, raising the level of the population of retirement age, and many other social and economic tasks. However, when it comes to developing markets, the funded pension system requires closer attention both from the side of supervision and from the point of view of the very mechanisms and principles for implementing the funded pension system in the country. This study is devoted to the analysis of the funded pension system of the Republic of Armenia, in terms of the effectiveness of its investments and the impact on the country's economic growth.

Suggested Citation

  • Mariam Voskanyan, 2023. "Funded Pension System Of Armenia: Problems, Development Prospects, Role In Economic Growth," Economic Archive, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 3-23.
    • Handle: RePEc:dat:earchi:y:2023:i:1:p:3-23
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    File URL: http://hdl.handle.net/10610/4751
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    References listed on IDEAS

    as
    1. Yilmaz BAYAR, 2017. "Pension Funds, Financial Development and Economic Growth in Emerging Market Economies: A Panel Causality Analysis," Journal of BRSA Banking and Financial Markets, Banking Regulation and Supervision Agency, vol. 11(1), pages 51-64.
    2. Alda, Mercedes, 2017. "The relationship between pension funds and the stock market: Does the aging population of Europe affect it?," International Review of Financial Analysis, Elsevier, vol. 49(C), pages 83-97.
    3. Babalos, Vassilios & Stavroyiannis, Stavros, 2020. "Pension funds and stock market development in OECD countries: Novel evidence from a panel VAR," Finance Research Letters, Elsevier, vol. 34(C).
    4. Walker, Eduardo*Lefort, Fernando, 2002. "Pension reform and capital markets : are there any (hard) links?," Policy Research Working Paper Series 24082, The World Bank.
    5. Michiel Bijlsma & Johannes Bonekamp & Casper Ewijk & Ferry Haaijen, 2018. "Funded Pensions and Economic Growth," De Economist, Springer, vol. 166(3), pages 337-362, September.
    6. Davis, E. Philip & Hu, Yu-Wei, 2008. "Does funding of pensions stimulate economic growth?," Journal of Pension Economics and Finance, Cambridge University Press, vol. 7(2), pages 221-249, July.
    7. Altiparmakov, Nikola & Nedeljković, Milan, 2018. "Does pension privatization increase economic growth? Evidence from Latin America and Eastern Europe," Journal of Pension Economics and Finance, Cambridge University Press, vol. 17(1), pages 46-84, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Armenia; funded pension system; pension funds; economic growth; developing countries;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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