PROBLEMS OF PENSION SYSTEM REFORMS, FINANCIAL SYSTEM STABILITY AND CAPITAL MARKET DEVELOPMENT IN EMERGING ECONOMIES

• Authors: Areg M. Baghdasaryan
• Languages of publication: EN

Abstracts

EN

The article considers problems of pension system reforms arising in most countries with transition economy. As a solution introduction of multi-pillar system of pension provision is recommended. This system supposes existence of pillars based on the principles of both pay-as-you-go system and funded system. Nonetheless, introduction of mandatory funded pension system is connected with substantial risks. The presented article is devoted to the analysis of the risks of introduction of mandatory funded pension system and the main mechanisms of mitigation of risks as well as the social aspects of the reform.

Keywords

EN

FINANCIAL SYSTEM STABILITY; PENSION SYSTEM REFORM; MINIMUM SUBSISTENCE LEVEL; TRANSITION ECONOMY; CAPITAL MARKET

• Publisher: Sumy State University, Business and Management Academy of Ukraine - Sumy regional branch and Publishing Company 'University Book'
• Journal: Mekhanizm Rehuluvannya Economiky
• Year: 2012
• Volume: 1 (55)
• Pages: 157-163

Contributors

author

Areg M. Baghdasaryan

• State Agrarian University of Armenia, Yerevan, Armenia