Pension reform in Central and Eastern Europe: implications and simulations for Romania.

Mihaita, E.I., 2006. Pension reform in Central and Eastern Europe: implications and simulations for Romania. PhD, Nottingham Trent University.

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Abstract

This thesis attempts to expand the boundaries of knowledge on pension reform. It contributes to the pension reform literature on Romania by reviewing and explaining its pension reform developments and by re-evaluating its strategies. It runs 'overlapping generations' simulations on the adoption of a Notional Defined Contribution (NDC) pillar in Romania. Based on state-preference theory, a model is constructed in order to estimate the size of the private pillar suitable for the Romanian pensions system. The analysis highlights the significance of high public pension system implicit debt in the architecture of multipillar reform strategies, the role of the access to international capital markets in debt-financing the transition costs, the potential superiority of NDC schemes over other public pillar parametric reforms, and the importance of devising tools for determining the size of the private fully-funded pillar. The thesis prompts the need for further study into these issues.

Item Type:	Thesis
Creators:	Mihaita, E.I.
Date:	2006
ISBN:	9781369314106
Identifiers:	Number Type PQ10183129 Other
Divisions:	Schools > School of Social Sciences
Record created by:	Jeremy Silvester
Date Added:	18 Sep 2020 10:09
Last Modified:	20 Jul 2023 10:18
URI:	https://irep.ntu.ac.uk/id/eprint/40802

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