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Pension funds and national saving

Author

Listed:
  • Lopez Murphy, Pablo
  • Musalem, Alberto R.

Abstract

The authors conduct an empirical study on the effect of the accumulation of pension fund financial assets, on national saving, using a panel of 43 industrial, and developing countries. The authors find evidence suggesting that the accumulation of pension fund financial assets might increase national saving, when these funds are the result of a mandatory pension program. By contrast, national saving might be unaffected, when pension funds are the result of a public program, implemented to foster voluntary pension saving.

Suggested Citation

  • Lopez Murphy, Pablo & Musalem, Alberto R., 2004. "Pension funds and national saving," Policy Research Working Paper Series 3410, The World Bank.
    • Handle: RePEc:wbk:wbrwps:3410
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    References listed on IDEAS

    as
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    Cited by:

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    2. Phung Huong Thu Thi & Le Thai Hong & Anh Pham Thi Hoang, 2024. "Examining the Impacts of Saving Rate and Net Lending on Pension Funds in OECD Countries," International Review of Financial Consumers, Sciendo, vol. 9(1), pages 15-26.
    3. Ashok Thomas & Luca Spataro, 2013. "Pension funds and Market Efficiency: A review," Discussion Papers 2013/164, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    4. Mariangela Bonasia & Oreste Napolitano, 2006. "The Impact of Privatisation of Pension System on National Saving: The Case of Australia and Iceland," Discussion Papers 3_2006, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    5. Mehdi Ben Braham, 2007. "Structural Pension Reform: The Chilean Experience," NFI Working Papers 2007-WP-20, Indiana State University, Scott College of Business, Networks Financial Institute.
    6. repec:dau:papers:123456789/401 is not listed on IDEAS
    7. Juan Ayuso & Juan F. Jimeno & Ernesto Villanueva, 2019. "The effects of the introduction of tax incentives on retirement saving," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 10(3), pages 211-249, November.
    8. Ricardo N. Bebczuk & Alberto R. Musalem, 2006. "Pensions and Saving: New International Panel Data Evidence," IIE, Working Papers 061, IIE, Universidad Nacional de La Plata.
    9. Zandberg, Eelco & Spierdijk, Laura, 2013. "Funding of pensions and economic growth: are they really related?," Journal of Pension Economics and Finance, Cambridge University Press, vol. 12(2), pages 151-167, April.

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