Version 1
: Received: 29 April 2023 / Approved: 4 May 2023 / Online: 4 May 2023 (11:08:18 CEST)
How to cite:
Dumiter, F.C.; Nicoară, Ș.A.; Boiță, M.; Loučanová, E.; Stofkova, K.R. Financial, Economic, and Social Sustainability Aspects of Pension Systems. Econometrical Approaches in Central and Eastern Europe. Preprints2023, 2023050262. https://doi.org/10.20944/preprints202305.0262.v1
Dumiter, F.C.; Nicoară, Ș.A.; Boiță, M.; Loučanová, E.; Stofkova, K.R. Financial, Economic, and Social Sustainability Aspects of Pension Systems. Econometrical Approaches in Central and Eastern Europe. Preprints 2023, 2023050262. https://doi.org/10.20944/preprints202305.0262.v1
Dumiter, F.C.; Nicoară, Ș.A.; Boiță, M.; Loučanová, E.; Stofkova, K.R. Financial, Economic, and Social Sustainability Aspects of Pension Systems. Econometrical Approaches in Central and Eastern Europe. Preprints2023, 2023050262. https://doi.org/10.20944/preprints202305.0262.v1
APA Style
Dumiter, F.C., Nicoară, Ș.A., Boiță, M., Loučanová, E., & Stofkova, K.R. (2023). Financial, Economic, and Social Sustainability Aspects of Pension Systems. Econometrical Approaches in Central and Eastern Europe. Preprints. https://doi.org/10.20944/preprints202305.0262.v1
Chicago/Turabian Style
Dumiter, F.C., Erika Loučanová and Katarina Repkova Stofkova. 2023 "Financial, Economic, and Social Sustainability Aspects of Pension Systems. Econometrical Approaches in Central and Eastern Europe" Preprints. https://doi.org/10.20944/preprints202305.0262.v1
Abstract
In the current socio-economic context, pension systems have become a crucial topic in the agenda of governments and international bodies. In this paper, an empirical study regarding the economic and social sustainability of pension systems in Central and Eastern European Countries was performed. The goal of the research is to establish the sustainability of pension systems with econometric modeling techniques on three dimensions as the research hypotheses are revealed: first, by strengthening the financial soundness of pension systems; second, consolidating the economic environment of pension systems; third, increasing the degree of social security systems with a direct effect of reducing poverty. The results led to relevant insights emphasizing the need for more inclusive economic, financial, and social reforms. From a policy perspective, these findings could be a starting point for the enhancement of the financial adequacy and economic and social sustainability of pension systems in Central and Eastern European Countries. The econometric techniques in this study highlight those modern pensions systems that need to be addressed in a more complex and empirical context that must encompass the main technical aspects. The conclusions suggest that in the future it needs judicial, economic, and social adjustments for the enhancement of the financial soundness of the pension systems.
Keywords
pension systems; PAYG; financial sustainability; social systems; security insurance; econometric techniques; public reforms; former socialist countries
Subject
Business, Economics and Management, Finance
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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