IDEAS home Printed from https://ideas.repec.org/a/lrk/eeaart/24_2_20.html
   My bibliography  Save this article

The Reform of the Pension Systems in Easterm Europe and these Impact about the Efficiency and Equity/La reforma de los sistemas de pensiones en Europa del Este y su impacto sobre la eficiencia y la equidad

Author

Listed:
  • ANTÓN PÉREZ, JOSÉ IGNACIO

    () (Universidad de Salamanca.)

Abstract

At the end of the last decade several countries in Eastern Europe undertook changes in their pension systems, adopting different strategies of reform. Although it is recognized the scant time passed since the start of the reforms, this work intends to discuss the different implications of these changes from the double perspective of efficiency and equity. From the perspective of efficiency, the author mainly analyzes the ability of the new systems to cope with demographic aging and to promote national saving, the pension funds market structure, the contribution evasion and, especially, the potential administration costs. The author concludes that efficiency does not increase in the aspects considered here. From the perspective of equity, the paper, by means of a simulation of replacement rates, shows that the distributive power of pensions decreases, so other instruments to achieve equity objectives will have to be proposed. A finales de la pasada década varios países de Europa del Este acometieron cambios en sus sistemas de pensiones, adoptando diferentes estrategias de reforma. Aunque se reconoce el escaso tiempo transcurrido tras las reformas, el objetivo de este artículo es analizar las implicaciones que conllevan estos cambios desde las perspectivas de la eficiencia y de la equidad. Desde la perspectiva de la eficiencia, se analiza la capacidad de los nuevos sistemas para afrontar el envejecimiento demográfico y promover el incremento del ahorro, la estructura del mercado de fondos de pensiones, la evasión en las contribuciones y, especialmente, los potenciales costes de administración en los nuevos sistemas. Se concluye que, en los aspectos considerados, la eficiencia no se incrementa. Desde la perspectiva de la equidad, el artículo, a través de una simulación de las tasas de reemplazo, muestra que el potencial distributivo de las pensiones disminuye, por lo que deberán proponerse otros instrumentos para alcanzar objetivos de equidad.

Suggested Citation

  • Antón Pérez, José Ignacio, 2006. "The Reform of the Pension Systems in Easterm Europe and these Impact about the Efficiency and Equity/La reforma de los sistemas de pensiones en Europa del Este y su impacto sobre la eficiencia y la eq," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 24, pages 643(20á)-64, Agosto.
  • Handle: RePEc:lrk:eeaart:24_2_20
    as

    Download full text from publisher

    File URL: http://www.revista-eea.net
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Eric M. Engen & William G. Gale, 1997. "Effects of Social Security reform on private and national saving," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 41(Jun), pages 103-142.
    2. Vylitova, Marketa, 2002. "Old-Age Pension System and Its Place in the Czech Welfare State," Discussion Paper 62, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
    3. Peter A. Diamond, 2000. "Administrative Costs and Equilibrium Charges with Individual Accounts," NBER Chapters,in: Administrative Aspects of Investment-Based Social Security Reform, pages 137-172 National Bureau of Economic Research, Inc.
    4. Peter Diamond, 2004. "Social Security," American Economic Review, American Economic Association, vol. 94(1), pages 1-24, March.
    5. Chlon, Agnieszka & Gora, Marek & Rutkowski, Michal, 1999. "Shaping pension reform in Poland : security through diversity," Social Protection and Labor Policy and Technical Notes 20852, The World Bank.
    6. Bosworth, Barry & Burtless, Gary, 2004. "Pension Reform and Saving," National Tax Journal, National Tax Association, vol. 57(3), pages 703-727, September.
    7. Author-Name: John Geanakoplos & Michael Magill & Martine Quinzii, 2004. "Demography and the Long-Run Predictability of the Stock Market," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 35(1), pages 241-326.
    8. Palacios, Robert & Rocha, Roberto, 1998. "The Hungarian pension system in transition," Social Protection and Labor Policy and Technical Notes 20048, The World Bank.
    9. Rocha, Roberto & Vittas, Dimitri, 2001. "Pension reform in Hungary : a preliminary assessment," Policy Research Working Paper Series 2631, The World Bank.
    10. Whitehouse, Edward, 2001. "Pension systems in 15 countries compared: the value of entitlements," MPRA Paper 14751, University Library of Munich, Germany.
    11. Gaël Dupont, 2004. "Pensions reforms in acceding countries," Revue de l'OFCE, Presses de Sciences-Po, vol. 91(5), pages 55-81.
    12. Sergio Cesaratto, 2006. "Transition to fully funded pension schemes: a non-orthodox criticism," Cambridge Journal of Economics, Oxford University Press, vol. 30(1), pages 33-48, January.
    13. Schneider, Friedrich, 2002. "The Size and Development of the Shadow Economies of 22 Transition and 21 OECD Countries," IZA Discussion Papers 514, Institute for the Study of Labor (IZA).
    14. James, Estelle, 1996. "Protecting the old and promoting growth : a defense of averting the old age crisis," Policy Research Working Paper Series 1570, The World Bank.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Reform; Eastern Europe; Administrative Cost; Equity/Reforma; Países del Este; Eficiencia; Costes de Administración; Equidad.;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lrk:eeaart:24_2_20. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Beatriz Rodríguez Prado). General contact details of provider: http://edirc.repec.org/data/fcvldes.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.