Pension Funds and National Saving

The authors conduct an empirical study on the effect of the accumulation of pension fund financial assets, on national saving, using a panel of 43 industrial, and developing countries. The authors find evidence suggesting that the accumulation of p...

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Main Authors:	Lopez Murphy, Pablo, Musalem, Alberto R.
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, D.C. 2013
Subjects:	AGRICULTURE ASSETS BASE YEAR BOND HOLDERS BOOK VALUE BORROWING CAPITAL MOBILITY COLLATERAL CONSUMER PRICE INDEX CONSUMERS CONSUMPTION FUNCTION CURRENT ACCOUNT CURRENT PRICES DEBT DEPOSITS DEVELOPED COUNTRIES DISPOSABLE INCOME DIVIDENDS DURABLE GOODS ECONOMETRIC MODELING ELASTICITY ELASTICITY OF SUBSTITUTION EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL STUDIES ENDOWMENTS EXPENDITURE EXPORTS FINANCIAL DEEPENING FINANCIAL STATISTICS FUNDED SCHEMES GDP GROSS DOMESTIC PRODUCT GROWTH RATE HEALTH EXPENDITURES IMPORTS INCOME INHERITANCE INSTITUTIONAL INVESTORS INTEREST PAYMENTS INTEREST RATES LABOR FORCE LEGISLATION LOCAL CURRENCY M2 MACROECONOMICS MARGINAL PROPENSITY TO CONSUME MARGINAL PROPENSITY TO SAVE NATIONAL INCOME OVERLAPPING GENERATIONS MODEL PAY AS YOU GO PENSION SYSTEMS PENSION COVERAGE PENSION FUNDS PENSION PLANS PENSIONS PERMANENT INCOME POPULATION GROWTH PRESENT VALUE PRODUCTIVITY PRODUCTIVITY GROWTH PROPENSITY TO SAVE PUBLIC EXPENDITURES PUBLIC POLICIES PURCHASING POWER REAL INCOME REAL INTEREST RATE REAL RATE OF INTEREST REGRESSION ANALYSIS RETAINED EARNINGS RETIREMENT SHAREHOLDERS TAX FAVORED ASSETS TAX REDUCTION TAX REVENUES TERMS OF TRADE TIME SERIES URBANIZATION WAGES WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2004/09/5163054/pension-funds-national-saving http://hdl.handle.net/10986/14127

id	okr-10986-14127
recordtype	oai_dc
spelling	okr-10986-141272021-04-23T14:03:21Z Pension Funds and National Saving Lopez Murphy, Pablo Musalem, Alberto R. AGRICULTURE ASSETS BASE YEAR BOND HOLDERS BOOK VALUE BORROWING CAPITAL MOBILITY COLLATERAL CONSUMER PRICE INDEX CONSUMERS CONSUMPTION FUNCTION CURRENT ACCOUNT CURRENT PRICES DEBT DEPOSITS DEVELOPED COUNTRIES DISPOSABLE INCOME DIVIDENDS DURABLE GOODS ECONOMETRIC MODELING ELASTICITY ELASTICITY OF SUBSTITUTION EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL STUDIES ENDOWMENTS EXPENDITURE EXPORTS FINANCIAL DEEPENING FINANCIAL STATISTICS FUNDED SCHEMES GDP GROSS DOMESTIC PRODUCT GROWTH RATE HEALTH EXPENDITURES IMPORTS INCOME INHERITANCE INSTITUTIONAL INVESTORS INTEREST PAYMENTS INTEREST RATES LABOR FORCE LEGISLATION LOCAL CURRENCY M2 MACROECONOMICS MARGINAL PROPENSITY TO CONSUME MARGINAL PROPENSITY TO SAVE NATIONAL INCOME OVERLAPPING GENERATIONS MODEL PAY AS YOU GO PENSION SYSTEMS PENSION COVERAGE PENSION FUNDS PENSION PLANS PENSIONS PERMANENT INCOME POPULATION GROWTH PRESENT VALUE PRODUCTIVITY PRODUCTIVITY GROWTH PROPENSITY TO SAVE PUBLIC EXPENDITURES PUBLIC POLICIES PURCHASING POWER REAL INCOME REAL INTEREST RATE REAL RATE OF INTEREST REGRESSION ANALYSIS RETAINED EARNINGS RETIREMENT SHAREHOLDERS TAX FAVORED ASSETS TAX REDUCTION TAX REVENUES TERMS OF TRADE TIME SERIES URBANIZATION WAGES WEALTH The authors conduct an empirical study on the effect of the accumulation of pension fund financial assets, on national saving, using a panel of 43 industrial, and developing countries. The authors find evidence suggesting that the accumulation of pension fund financial assets might increase national saving, when these funds are the result of a mandatory pension program. By contrast, national saving might be unaffected, when pension funds are the result of a public program, implemented to foster voluntary pension saving. 2013-06-21T19:08:44Z 2013-06-21T19:08:44Z 2004-08 http://documents.worldbank.org/curated/en/2004/09/5163054/pension-funds-national-saving http://hdl.handle.net/10986/14127 English en_US Policy Research Working Paper;No.3410 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, D.C. Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	AGRICULTURE ASSETS BASE YEAR BOND HOLDERS BOOK VALUE BORROWING CAPITAL MOBILITY COLLATERAL CONSUMER PRICE INDEX CONSUMERS CONSUMPTION FUNCTION CURRENT ACCOUNT CURRENT PRICES DEBT DEPOSITS DEVELOPED COUNTRIES DISPOSABLE INCOME DIVIDENDS DURABLE GOODS ECONOMETRIC MODELING ELASTICITY ELASTICITY OF SUBSTITUTION EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL STUDIES ENDOWMENTS EXPENDITURE EXPORTS FINANCIAL DEEPENING FINANCIAL STATISTICS FUNDED SCHEMES GDP GROSS DOMESTIC PRODUCT GROWTH RATE HEALTH EXPENDITURES IMPORTS INCOME INHERITANCE INSTITUTIONAL INVESTORS INTEREST PAYMENTS INTEREST RATES LABOR FORCE LEGISLATION LOCAL CURRENCY M2 MACROECONOMICS MARGINAL PROPENSITY TO CONSUME MARGINAL PROPENSITY TO SAVE NATIONAL INCOME OVERLAPPING GENERATIONS MODEL PAY AS YOU GO PENSION SYSTEMS PENSION COVERAGE PENSION FUNDS PENSION PLANS PENSIONS PERMANENT INCOME POPULATION GROWTH PRESENT VALUE PRODUCTIVITY PRODUCTIVITY GROWTH PROPENSITY TO SAVE PUBLIC EXPENDITURES PUBLIC POLICIES PURCHASING POWER REAL INCOME REAL INTEREST RATE REAL RATE OF INTEREST REGRESSION ANALYSIS RETAINED EARNINGS RETIREMENT SHAREHOLDERS TAX FAVORED ASSETS TAX REDUCTION TAX REVENUES TERMS OF TRADE TIME SERIES URBANIZATION WAGES WEALTH
spellingShingle	AGRICULTURE ASSETS BASE YEAR BOND HOLDERS BOOK VALUE BORROWING CAPITAL MOBILITY COLLATERAL CONSUMER PRICE INDEX CONSUMERS CONSUMPTION FUNCTION CURRENT ACCOUNT CURRENT PRICES DEBT DEPOSITS DEVELOPED COUNTRIES DISPOSABLE INCOME DIVIDENDS DURABLE GOODS ECONOMETRIC MODELING ELASTICITY ELASTICITY OF SUBSTITUTION EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL STUDIES ENDOWMENTS EXPENDITURE EXPORTS FINANCIAL DEEPENING FINANCIAL STATISTICS FUNDED SCHEMES GDP GROSS DOMESTIC PRODUCT GROWTH RATE HEALTH EXPENDITURES IMPORTS INCOME INHERITANCE INSTITUTIONAL INVESTORS INTEREST PAYMENTS INTEREST RATES LABOR FORCE LEGISLATION LOCAL CURRENCY M2 MACROECONOMICS MARGINAL PROPENSITY TO CONSUME MARGINAL PROPENSITY TO SAVE NATIONAL INCOME OVERLAPPING GENERATIONS MODEL PAY AS YOU GO PENSION SYSTEMS PENSION COVERAGE PENSION FUNDS PENSION PLANS PENSIONS PERMANENT INCOME POPULATION GROWTH PRESENT VALUE PRODUCTIVITY PRODUCTIVITY GROWTH PROPENSITY TO SAVE PUBLIC EXPENDITURES PUBLIC POLICIES PURCHASING POWER REAL INCOME REAL INTEREST RATE REAL RATE OF INTEREST REGRESSION ANALYSIS RETAINED EARNINGS RETIREMENT SHAREHOLDERS TAX FAVORED ASSETS TAX REDUCTION TAX REVENUES TERMS OF TRADE TIME SERIES URBANIZATION WAGES WEALTH Lopez Murphy, Pablo Musalem, Alberto R. Pension Funds and National Saving
relation	Policy Research Working Paper;No.3410
description	The authors conduct an empirical study on the effect of the accumulation of pension fund financial assets, on national saving, using a panel of 43 industrial, and developing countries. The authors find evidence suggesting that the accumulation of pension fund financial assets might increase national saving, when these funds are the result of a mandatory pension program. By contrast, national saving might be unaffected, when pension funds are the result of a public program, implemented to foster voluntary pension saving.
format	Publications & Research :: Policy Research Working Paper
author	Lopez Murphy, Pablo Musalem, Alberto R.
author_facet	Lopez Murphy, Pablo Musalem, Alberto R.
author_sort	Lopez Murphy, Pablo
title	Pension Funds and National Saving
title_short	Pension Funds and National Saving
title_full	Pension Funds and National Saving
title_fullStr	Pension Funds and National Saving
title_full_unstemmed	Pension Funds and National Saving
title_sort	pension funds and national saving
publisher	World Bank, Washington, D.C.
publishDate	2013
url	http://documents.worldbank.org/curated/en/2004/09/5163054/pension-funds-national-saving http://hdl.handle.net/10986/14127
_version_	1764430572901367808

Pension Funds and National Saving

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