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Pension Funds as Vehicle of Better Dynamics for the Capital Markets

Flavia Barna and Miruna Nachescu

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 2, 997-1002

Abstract: The paper aims the analysis the investment strategies adopted by the private pension funds in OECD countries and the relation between the level of development of the financial system and the impact pension funds have on the capital market in these countries. On the short term, in the countries characterised by a developed financial system, pension funds generate an increase in the market capitalization as well as in the transactions volume. For the countries with immature financial systems, the positive effects estimated are less sustainable. Further, the paper underlines the changes generated by the global financial crises in the assets administrated by the pension funds in OECD countries and shows the fundamental role funds have in increasing the activities of the capital markets.

Keywords: pension funds; capital market; financial assets; crises (search for similar items in EconPapers)
JEL-codes: G23 J32 (search for similar items in EconPapers)
Date: 2012
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