Effects of the Introduction of a Funded Pillar on the Russian Household Savings: Evidence from the 2002 Pension Reform
AbstractThis paper provides an estimation of the effects of the introduction of a mandatory funded pillar on households’ savings. To this purpose, I exploit the 2002 Russian pension reform that introduced a funded component along the pay-as-you-go one. The empirical evidence shows that the introduction of the funded pillar has a negative impact on the Russian households’ savings. I find that the introduction of the funded pillar entails a reduction of 1 percentage point in the saving rates of households who save and a reduction of 2.5 percentage points in the probability of having positive savings.
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Bibliographic InfoPaper provided by Center for Research on Pensions and Welfare Policies, Turin (Italy) in its series CeRP Working Papers with number 61.
Length: 23 pages
Date of creation: Jun 2007
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-09-24 (All new papers)
- NEP-CIS-2007-09-24 (Confederation of Independent States)
- NEP-MAC-2007-09-24 (Macroeconomics)
- NEP-TRA-2007-09-24 (Transition Economics)
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