Pension Reforms in Central and Eastern Europe: Yet Another Transition...?

G. Heinrich

No 9705, CERT Discussion Papers from Centre for Economic Reform and Transformation, Heriot Watt University

Abstract: The pay-as-you-go (PAYG) pension schemes in Central and Eastern Europe are on the verge of financial collapse. In this paper, we analyse the causes of the crisis in the old-age income insurance systems and we discuss theoretical and political economy aspects of pensions and retirement behaviour. Piecemeal reforms have created additional distortions in the pension system and deepened its financial crisis. We will discuss proposals for reforms that combine short run policies for adjusting the existing PAYG system and guaranteeing its financial viability with long run policies to phase in a multi-tiered system combining elements of PAYG and fully funded schemes.

Date: 1997
New Economics Papers: this item is included in nep-eec
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www2.hw.ac.uk/sml/downloads/cert/wpa/1997/dp9705.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

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:hwe:certdp:9705

Access Statistics for this paper

More papers in CERT Discussion Papers from Centre for Economic Reform and Transformation, Heriot Watt University Contact information at EDIRC.
Bibliographic data for series maintained by Colin Miller ().