Original scientific paper
https://doi.org/10.1080/1331677X.2015.1022388
Pension reform and capital market development in Central and Eastern European countries
Cosmin Enache
Laura Raisa Miloş
Marius Cristian Miloş
Abstract
The paper provides new empirical evidence for the connection between pension reform and capital market development using a sample of ten Central and Eastern European countries. Using a single equation Error Correction Model, the results confirm the existence of a strong positive short-term effect, as well as a lower magnitude positive long-term effect of the pension funds’ assets on the market capitalisation.
Keywords
pension reform; stock market; development; CEE; pension funds
Hrčak ID:
171486
URI
Publication date:
20.12.2015.
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