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THE EFFECTS OF PENSION FUNDS ON MARKETS PERFORMANCE: A REVIEW
Author(s) -
Thomas Ashok,
Spataro Luca
Publication year - 2016
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/joes.12085
Subject(s) - pension , global assets under management , economics , financial market , pillar , pension system , globalization , flourishing , institutional investor , business , financial system , finance , market economy , corporate governance , psychology , structural engineering , engineering , psychotherapist
The worldwide reforming process of pension systems triggered by the demographic transition and globalization has led several countries to implement multi‐pillar pension systems and enhance pension funds. For this reason the studies on the effects that pension funds exert on markets performance have been flourishing in the last decades. In this paper, we provide an updated review of the empirical advances in this field of study, with particular focus on the effects that pension funds produce on labour markets, financial markets and economic growth.