期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2012
卷号：2
期号：6
页码：574-586
出版社：Human Resource Management Academic Research Society
摘要：It is generally assumed that Chilean type of pension reform helps in developing the financial market wherever the reform is adopted. However, this assertion is not clear cut especially in developing areas faced with problems of underdevelopment. Using the Error Correction Model (ECM) approach this study examines if pension reform advances the development of financial market in Nigeria. Time series data were compiled and a functional relationship was established using the OLS technique. Statistical significance of the error correction term confirmed the existence of an equilibrium relationship among the variables. The performance analysis of all the variables indicated that the reform period generates long-term contractual savings and stimulates the development of securities market
