Pension Funds Regulation in the Context of Investment Climate Development

Ivana Bestvina Bukvić (), Dražen Novaković () and Ivan Kristek ()
Additional contact information
Ivana Bestvina Bukvić: Josip Juraj Strossmayer University of Osijek, Faculty of Economics
Dražen Novaković: Josip Juraj Strossmayer University of Osijek, Faculty of Economics
Ivan Kristek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics

A chapter in Real and Financial Sectors in Post-Pandemic Central and Eastern Europe, 2022, pp 157-175 from Springer

Abstract: Abstract Many Central European countries, including Croatia, have still not reached the desired regulatory and institutional level of the financial sector required for the development of a favourable business environment. The aim of this paper is to emphasise the key impact of financial system regulation on the development of investment climate by analysing mandatory pension funds (MPF) as an ever-growing element of the Croatian financial system. The objective of this paper is to show the quantitative impact of potential changes in the regulation of MPFs on investments in Croatia and, consequently, on the improvement of the business environment as an important element of economic growth. For this purpose, a comparative analysis of the regulation of MPFs in Croatia and the European Union (EU) was conducted and projections of a potential rise in investments were made, taking into account possible alignment with the trends in the EU-15 through regulation relaxation. The results clearly show that Croatia is slowly following EU trends, and it can be concluded that a change (in terms of relaxing) in MPF investment regulation can contribute to investment growth, improvement of the investment climate and business environment, and it can thus stimulate economic development, but with the careful assessment and balance of potential risk and returns of MPF portfolios.

Keywords: Regulation; Mandatory pension funds; Investment climate; Croatia; European Union; Business environment (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:conchp:978-3-030-99850-9_10

Ordering information: This item can be ordered from
http://www.springer.com/9783030998509

DOI: 10.1007/978-3-030-99850-9_10

Access Statistics for this chapter

More chapters in Contributions to Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().