期刊名称：Ovidius University Annals: Economic Sciences Series
电子版ISSN：2393-3127
出版年度：2012
卷号：12
期号：2
语种：English
出版社：Ovidius University Press
摘要：The paper aims the analysis the investment strategies adopted by the private pension funds in OECD countries and the relation between the level of development of the financial system and the impact pension funds have on the capital market in these countries. On the short term,in the countries characterised by a developed financial system,pension funds generate an increase in the market capitalization as well as in the transactions volume. For the countries with immature financial systems,the positive effects estimated are less sustainable. Further,the paper underlines the changes generated by the global financial crises in the assets administrated by the pension funds in OECD countries and shows the fundamental role funds have in increasing the activities of the capital markets.
