Russian Federation: Selected Issues

International Monetary Fund

No 2008/308, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper for the Russian Federation discusses existing empirical efforts to measure the determinants of cross-country financial integration. Empirical studies that have adopted the gravity-model framework have found that it is generally successful in explaining bilateral financial flows. If the pension gap were to be financed through the budget, the model simulations suggest that fiscal room is best created by lowering government consumption. Consideration should be given to outsourcing the management of the mandatory contributions to private asset managers.

Keywords: ISCR; CR; CIS market; CIS country; replacement rate; CIS economy; CIS dummy; Pension spending; Pensions; Retirement; Aging; Financial integration; Global (search for similar items in EconPapers)
Pages: 44
Date: 2008-09-22
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Citations: View citations in EconPapers (1)

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