Growth of Asian Pension Assets: Implications for Financial and Capital Markets

29 Pages Posted: 1 Jun 2012

See all articles by Yuwei Hu

Yuwei Hu

Banco Bilbao Vizcaya - Banco Bilbao Vizcaya Argentaria, S.A.

Date Written: May 31, 2012

Abstract

Pension assets have seen rapid growth world-wide over the past decades, although they suffered large losses during the global financial crisis of 2007–2008. This paper seeks to identify the impact of Asian pension funds on selected key transmission mechanisms from pension reform to financial development. Utilizing a panel error correction model, we found a statistical relationship between pension asset growth and development of financial and capital markets. The main policy implication is that governments in Asia should continue and/or strengthen pension reforms towards more pre-funding of future liabilities, since it brings beneficial impacts on the financial market.

Keywords: asia, pension systems, asian pension funds, pension reform

JEL Classification: G23, G28, C54

Suggested Citation

Hu, Yuwei, Growth of Asian Pension Assets: Implications for Financial and Capital Markets (May 31, 2012). ADBI Working Paper 360, Available at SSRN: https://ssrn.com/abstract=2071134 or http://dx.doi.org/10.2139/ssrn.2071134

Yuwei Hu (Contact Author)

Banco Bilbao Vizcaya - Banco Bilbao Vizcaya Argentaria, S.A. ( email )

Paseo de la Castellana, 81
MADRID, MAD 2804
Spain
+34-915-377000 (Phone)
+34-915-376766 (Fax)

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
169
Abstract Views
851
Rank
319,210
PlumX Metrics