THE IMPACT OF GLOBAL AGING ON ASSET PRICES AND RETURNS

Mihail Dumitru Sacala
Additional contact information
Mihail Dumitru Sacala: Academy of Economic Studies, Bucharest
Authors registered in the RePEc Author Service: Cristina SACALA ()

Romanian Statistical Review, 2012, vol. 60, issue 3, 31-50

Abstract: Numerous studies have tried to model the connection between the structure of population and the financial markets, showing the possibility of a future meltdown in the financial markets, via lower savings and investments given the reaching of the baby-boom cohorts at the age of retirement. In general the research has focused on the case of more industrialized countries, where the aging phenomenon is more felt in the present. The case of Central and Eastern European countries was somehow left aside, although the issue of aging should be an important one, considering also the current state of developing CEE capital markets. Our empirical work, based on the Romanian experience, suggests also that the demographic dynamics have had a detectable impact on the domestic stock market.

Keywords: Aging; stock markets; life-cycle theory (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.revistadestatistica.ro/Articole/2012/art_3en_rrs3_2012.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rsr:journl:v:60:y:2012:i:3:p:31-50

Access Statistics for this article

More articles in Romanian Statistical Review from Romanian Statistical Review Contact information at EDIRC.
Bibliographic data for series maintained by Adrian Visoiu ().