Pension Funds and National Saving [book]

Alberto R. Musalem, Pablo Lopez Murphy
2004 Policy Research Working Papers  
We conduct an empirical study of the e¤ect of the accumulation of pension funds ...nancial assets on national saving. To do that we rely on a panel of 43 countries including several developed and developing countries. We ...nd evidence suggesting that the accumulation of pension funds ...nancial assets might increase national saving when these funds are the result of a mandatory pension program. In contrast, national saving might be una¤ected when pension funds are the result of a public
more » ... of a public program implemented to foster voluntary pension saving.
doi:10.1596/1813-9450-3410 fatcat:7fspx7a6vratpmvazuadigm4xm