Is the Romanian financial market prepared to support pension system reform?
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.
Volume (Year): XVIII (2012)
Issue (Month): (May)
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- Glaessner, Thomas Charles & Valdes-Prieto, Salvador, 1998. "Pension reform in small developing countries," Policy Research Working Paper Series 1983, The World Bank.
- 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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