eBook

Aging population, pension funds, and financial markets : regional perspectives and global challenges for Central, Eastern, and Southern Europe

Holzmann, Robert

2009

Overview

Population aging is placing enormous pressures on the pension benefits governments are able to provide. The former transition economies of the countries of Central, Eastern, and Southern Europe (CESE) face unique challenges. The growth of their aging populations outpaces other European countries, while the growth of their financial markets (essential to fund pension provisions) lags behind. With support and direction from the ERSTE Foundation, an Austrian group focused on Central European policy issues, a World Bank team investigated the challenges faced by these countries against the background of international experience from the OECD countries and Latin America. 'Aging Population, Pension Funds, and Financial Markets: Regional Perspectives and Global Challenges for Central, Eastern, and Southern Europe' examines how well the financial systems in the CESE economies were prepared for the challenges of multipillar pension reform, how ready they are for the approaching payout of benefits to the first participants, whether returns from pension funds can be sustained in an aging population, and how determined policy actions might be implemented to complete financial market development.

• Publisher: World Bank,World Bank Publications,The World Bank
• Subject: ADMINISTRATIVE CHARGES / ADMINISTRATIVE COSTS / ALLOCATION OF CAPITAL / ALTERNATIVE INVESTMENT / Alternde Bevölkerung / Altersvorsorge / ANNUAL RETURNS / ARBITRAGE / ASSET ACCUMULATION / ASSET ALLOCATION / ASSET LIMITS / ASSET PRICES / AVERAGE WAGE / BANK ASSETS / BANK DEPOSITS / BANK POLICY / BANKING SECTOR / BANKING SECTORS / BANKING SYSTEM / BANKING SYSTEMS / BASIS POINTS / BENEFICIARIES / BENEFIT FORMULAS / BOND / BOND CATEGORIES / BOND CATEGORY / BOND INDEX / BOND MARKETS / CAPITAL ACCOUNTS / CAPITAL ASSET PRICING / CAPITAL FLOWS / CAPITAL MARKET / CAPITAL MARKET DEVELOPMENT / CAPITAL MARKETS / CAPITAL STOCKS / Central Europe / CONSUMER PROTECTION / CONTRACTUAL SAVINGS / CONTRIBUTION / CONTRIBUTION PAYMENTS / CONTRIBUTION RATES / CONTRIBUTIONS / CORPORATE BONDS / CORPORATE STOCKS / CREDIBILITY / CURRENCY / CURRENCY BOARDS / DEMOGRAPHIC PROFILE / DEVELOPING COUNTRIES / DOMESTIC CAPITAL / DOMESTIC CAPITAL MARKET / DOMESTIC CREDIT / DOMESTIC FINANCIAL MARKET / DOMESTIC FINANCIAL MARKETS / DOMESTIC MARKET / Eastern Europe / EDUCATIONAL PROGRAMS / EMERGING ECONOMIES / EMERGING MARKET / EMERGING MARKET ECONOMIES / EMERGING MARKETS / EQUITIES / EQUITY INDEXES / Europe, Central / Europe, Eastern / Europe, Southern / EXPENDITURE / EXPENDITURES / FACE VALUE / Finance / Finance -- Europe / FINANCIAL ASSET / FINANCIAL ASSETS / FINANCIAL CRISES / FINANCIAL EDUCATION / FINANCIAL INFRASTRUCTURE / FINANCIAL INSTITUTION / FINANCIAL INSTITUTIONS / FINANCIAL INSTRUMENTS / FINANCIAL LITERACY / FINANCIAL MARKET / FINANCIAL MARKET DEVELOPMENT / FINANCIAL MARKET PARTICIPANTS / FINANCIAL MARKETS / FINANCIAL PORTFOLIOS / FINANCIAL PRODUCTS / FINANCIAL SECTOR / FINANCIAL SECTOR DEVELOPMENT / FINANCIAL SECTORS / FINANCIAL STABILITY / FINANCIAL STRUCTURE / FINANCIAL SUPPORT / FINANCIAL SYSTEMS / FISCAL POLICY / FISCAL SUSTAINABILITY / FIXED INVESTMENTS / Forecasts / FOREIGN BANKS / FOREIGN CURRENCIES / FOREIGN CURRENCY / FOREIGN INVESTMENT / FOREIGN MARKETS / FORMS OF CREDIT / FUND MANAGERS / GLOBAL ECONOMY / GOVERNMENT DEBT / GROSS DOMESTIC PRODUCT / HOLDING / HOLDINGS / INCOME INSTRUMENTS / INCOME LEVELS / INCOME SECURITY / INCOME TAXES / INDEXED BONDS / INFLATION / INSTITUTIONAL INVESTORS / INTEREST RATE / INTERNAL FINANCING / INTERNAL RATE OF RETURN / INTERNATIONAL BANK / INTERNATIONAL DIVERSIFICATION / INTERNATIONAL FINANCIAL MARKETS / INTERNATIONAL INVESTMENT / INVESTING / INVESTMENT ASSETS / INVESTMENT CAPITAL / INVESTMENT CHOICES / INVESTMENT POLICIES / INVESTMENT RETURNS / LABOR FORCE / LABOR MARKETS / LEVEL OF PENSION EXPENDITURE / LEVELS OF RISK / LEVIES / LEVY / LIFE EXPECTANCY / LIFE INSURANCE / LIFE INSURANCE COMPANIES / LIFETIME / LIQUIDITY / LONG-TERM INSTRUMENTS / LOW COST / LOW-INCOME / MACROECONOMIC STABILITY / MARKET DEVELOPMENT / MARKET ECONOMY / MARKET INFORMATION / MARKET SIZE / MARKET TRADING / MARKETS DEVELOPMENT / Mitteleuropa / MONETARY FUND / Old age pensions / Old age pensions -- Europe -- Finance / OLD-AGE INCOME / Osteuropa / PENSION / PENSION ASSETS / PENSION BENEFITS / PENSION FUND / PENSION FUND ASSET / PENSION FUND ASSETS / PENSION FUND RETURNS / PENSION FUNDS / PENSION POLICY / PENSION PROVISIONS / PENSION REFORM / PENSION REFORMS / PENSION SAVINGS / PENSION SCHEME / PENSION SCHEMES / PENSION SYSTEM / PENSION SYSTEMS / PENSIONS / POLITICAL SCIENCE / POLITICAL UNCERTAINTY / Population ageing / Population aging / Population aging -- Europe / PORTFOLIO / PORTFOLIO ALLOCATION / PORTFOLIO REGULATIONS / PORTFOLIOS / PORTFOLIOS OF PENSION FUNDS / PRIVATE BOND / PRIVATE EQUITY / PRIVATE PENSION / PRODUCTIVITY / PUBLIC DEBT / PUBLIC DEBT SECURITIES / PUBLIC INFORMATION CAMPAIGNS / PUBLIC PENSION / RATE OF GROWTH / RATES OF INFLATION / RATES OF RETURN / REMITTANCES / Rentenfinanzierung / Rentenreform / RETIREMENT / RETIREMENT AGE / RETIREMENT AGES / RETIREMENT ASSETS / RETIREMENT INCOME / RETIREMENT PRODUCTS / RETIREMENT SAVINGS / RETURN / RETURNS / RISK PREMIUMS / SAVERS / SECURITIES / SECURITIES MARKETS / SECURITY MARKETS / SECURITY PRICES / SENIOR / SHAREHOLDER / Social economics / Southern Europe / STAKEHOLDERS / STOCK EXCHANGES / STOCK MARKET / STOCK MARKET CAPITALIZATION / STOCK MARKETS / STOCK RETURN / STOCK RETURNS / STOCK TRADING / Südeuropa / TAX / TAX COLLECTION / TRANSACTION / TRANSACTION COSTS / TRANSITION COUNTRIES / TRANSITION ECONOMIES / TRANSPARENCY / TURNOVER / UNEMPLOYMENT / WAGES / Welfare state / WORKING CAPITAL / YOUNGER COHORTS / YOUNGER POPULATIONS
• ISBN: 9780821377321, 0821377329, 9780821377338, 0821377337