All reform countries in Central and Eastern Europe require a rapid and comprehensive restructuring of their public pensions schemes for macro- and microeconomic reasons. The paper argues that pension reform, economic restructuring, and the growth options for these countries are closely related, and that by pursuing a reform which is at least partially directed towards private and funded pensions, the economic course of these reform countries may importantly be changed. The shift towards funded pensions could help to develop the financial sector and thus may bring the reform countries more rapidly towards a higher growth path. Recent developments in endogenous growth modelling support these conjectures. Yet for the time being, the financial sector in the reform economies may not be sufficiently developed to allow the introduction of funded pensions on a large scale. What these minimum conditions for the financial sector are, and how they can be introduced rapidly, is very much open for discussion.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by EconWPA in its series Public Economics with number
9405004.
Length: 35 pages Date of creation: 30 May 1994 Date of revision: Handle: RePEc:wpa:wuwppe:9405004
Note: 35 pages, 1 figure, 2 tables Contact details of provider: Web page: http://129.3.20.41
For technical questions regarding this item, or to correct its listing, contact: (EconWPA).
Related research
Keywords:
Find related papers by JEL classification: D6 - Microeconomics - - Welfare Economics D7 - Microeconomics - - Analysis of Collective Decision-Making H - Public Economics
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Olivier Jean Blanchard & Maxim Boycko & Marek Dabrowski & Rudiger Dornbusch & Richard Layard & Andrei Shleifer, 1993.
"Post-Communist Reform: Pain and Progress,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262023628, December.
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)