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Is the Romanian financial market prepared to support pension system reform?


  • Laura Raisa MILOS

    () (University “Eftimie Murgu” of Resita)


The paper outlines the challenges that a multi-pillar functional pension system may bring, considering the current state of development of the Romanian financial system, considering the macroeconomic stability, the current financial infrastructure and the existence of a regulatory and supervisory framework. After realizing an overview over the Romanian pension market, issues like the capacity of the domestic financial market of generating long-term returns and adequate financial instruments are also addressed from an analytical point of view.

Suggested Citation

  • Laura Raisa MILOS, 2012. "Is the Romanian financial market prepared to support pension system reform?," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 295-299, May.
  • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:295-299

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    References listed on IDEAS

    1. Glaessner, Thomas Charles & Valdes-Prieto, Salvador, 1998. "Pension reform in small developing countries," Policy Research Working Paper Series 1983, The World Bank.
    2. Impavido, Gregorio & Musalem, Alberto R. & Vittas, Dimitri, 2002. "Contractual savings in countries with a small financial sector," Policy Research Working Paper Series 2841, The World Bank.
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    More about this item


    pension; system; financial market; reform;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions


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