Pension reform and capital market development in Central and Eastern European countries

Cosmin Enache, Laura Raisa Miloş and Marius Cristian Miloş

Economic Research-Ekonomska Istraživanja, 2015, vol. 28, issue 1, 75-84

Abstract: The paper provides new empirical evidence for the connection between pension reform and capital market development using a sample of ten Central and Eastern European countries. Using a single equation Error Correction Model, the results confirm the existence of a strong positive short-term effect, as well as a lower magnitude positive long-term effect of the pension funds’ assets on the market capitalisation.

Date: 2015
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DOI: 10.1080/1331677X.2015.1022388

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