scholarly journals The Relationships Between Private Pension System, Saving Rate and Current Deficit: An Application on OECD Countries

2016 ◽  
Author(s):  
Selim Başar ◽  
Murat Eren ◽  
Gürkan Bozma
Keyword(s):  
Current Account ◽  
Pension System ◽  
Developing Economies ◽  
Current Account Deficit ◽  
Oecd Countries ◽  
Private Pension ◽  
Current Account Balance ◽  
Saving Rate ◽  
Savings Rate ◽  
Private Pension System

Today developed and developing economies have many problems. Some of these problems are created by global conjuncture and the rest of them are originated by problems which can be seen in some specific economies. One of the most important problems of economies is low saving rate. Since low saving rate can cause through to inability to increase investments and inability to reduce current account deficit, to remain below potential growth. The governments which want to increase the level of savings may use the private pension system as a political tool to increase domestic savings and decrease current account deficit. In accordance with this development, the relationships between private pension system, savings rate and current account deficit have been examined by using panel causality test for 14 OECD countries over the period 2005-2014. The findings indicate that developments in the private pension system leads to improvement in the current account balance.

scholarly journals Pengaruh Neraca Transaksi Berjalan Terhadap Pertumbuhan Ekonomi Indonesia

2014 ◽  
Vol 2 (1) ◽  
pp. 68-75
Author(s):  
Sudirman Sudirman
Keyword(s):  
Current Account ◽  
Open Economy ◽  
Capital Flows ◽  
Developing Economies ◽  
Current Account Deficit ◽  
Balance Of Payments ◽  
Current Account Balance ◽  
Current Account Surplus ◽  
The Stability ◽  
A Current

Indonesia is a country with an open economy, which means activities in developing economies are heavily influenced by the foreign sector. The openness of the economy has an impact on a country's balance of payments relating to the flow of trade and capital flows. Various efforts are needed to increase exports in order to increase the Reserves . While the policy on imports directed to protect and develop domestic production. On the other hand domestic funding constraints need to be addressed to maintain fluency in development, so that funds from abroad in the form of loans or assistance that is still very necessary. All of this is intended to maintain the stability of International Balance of Payments (BOP) that prose foreign trade can be sustained. In one there is a structure of balance of payments current account (current account). In theory consists of the balance of current account balance on goods, services account, and unilateral transfers. Positive value or an increase in the current account means there is a current account surplus and vice versa if it is negative or the so-called current account deficit decline.

THE CURRENT GROWTH EFFECT OF HEALTH TOURISM MARKET DEVELOPMENT IN TURKEY FOR THE EVALUATION ON CURRENT ACCOUNT DEFICIT

2021 ◽  
Vol 6 (11) ◽  
pp. 220-240
Author(s):  
Mustafa IŞIK ◽  
Yakup ÖZSEZER ◽  
Fikriye IŞIK
Keyword(s):  
Current Account ◽  
Current Account Deficit ◽  
National Income ◽  
Tourism Industry ◽  
Added Value ◽  
Growth Effect ◽  
Critical Threshold ◽  
Current Account Balance ◽  
Health Tourism ◽  
Tourism Sector

Tourism sector is one of the major driving forces to develop the Turkish economy which provides the positive contributions with new employment opportunities and the national income and payments. With aid of this developments in economy by tourism, it has also increased the interaction with alternative areas. Health Tourism is also one of the special areas in which provides to the country high added value and foreign currency exchange income. Since the revenue outcome by health tourism is reaching up to 100 billion dollars, the national policy of health tourism enable countries has been undertaken as a high interested point of investment needed area. The critical threshold of the country’s Gross Domestic Product (GDP) is 4 to 5 percent as a current account balance and this deficient outcome in Turkey mostly takes on 5 to 4 percent which is a considered as a critical threshold. Health Tourism is expected to play a key role in bringing the values to the positive levels and therefore the focus is becoming on this area by health sector. Developing countries such as India, Singapore, and Thailand meet their foreign trade deficits with the income where they have obtained from this specific sector and the level of growth in this sector is at certain rate every year. The health Tourism is very crucial and significant sector for such a country Turkey, who has current budget deficit, and it is real economic sense. With Covid-19 crisis, the plans related with health tourism is re-evaluated by the coordination between Turkish Ministry of Health, Ministry of Tourism and Ministry of Economy. Especially, with the infrastructure works carried for public and city hospitals has been capable of providing health tourism services within the organization which is called “USHAŞ (International Health Services)”. The health tourism sector offers significant opportunities for Turkey during Covid-19 pandemic effects on our current account deficit and the decline in economic recovery of our tourism industry and losses. With health tourism created opportunities is already in an increasing trend, to contribute to the country’s economy much faster by increasing target markets with public-private cooperation.

scholarly journals Impact of International Trade and Trade Duties on Current Account Balance of the Balance of Payment: A study of N-11 Countries

2020 ◽  
Vol 6 (1) ◽  
pp. 11-32
Author(s):  
Imtiaz Arif ◽  
Lubna Khan ◽  
Fatima Farooq ◽  
Tahir Suleman
Keyword(s):  
International Trade ◽  
Current Account ◽  
Current Account Deficit ◽  
Unit Root Test ◽  
Future Research ◽  
Current Account Balance ◽  
Test Panel ◽  
Causality Analysis ◽  
Integration Test ◽  
The Impact

This study is aimed to investigate the impact of international trade and trade duties upon the current account balance of the balance of payment of N-11 countries. Two constituents of each factor have been considered for the purpose of analysis. For International trade, import (IMPT) and export (EXPT) of goods and services have been considered whereas, for trade duties, taxes on international trade (TOIT) and customs and other import duties (CID) have been taken as the research variables whereas, current account balance (CAB) has been taken as the dependent variable. For the purpose of analysis panel data of N-11 countries for 27 years from 1990 to 2016 has been tested using different econometric technique such as Panel unit root test, Panel co-integration test, Hausman test, Panel regression analysis and Panel causality analysis. The results demonstrate that overall research variables are co-integrated and having long term relationship and affecting each other in the conventional manner. Notably, it is observed via results that in case of N-11 countries the CAB itself is the regulating factor and all other factors are adjusted according to the movement of CAB. The study provides recommendations for the rectification of current account deficit position and also provides scope for future research as well.

Capitalist Crisis and Pension Insecurity

2017 ◽  
Author(s):  
Michael A. McCarthy
Keyword(s):  
Crisis Management ◽  
Pension System ◽  
The United States ◽  
Private Pension ◽  
Historical Evolution ◽  
State Change ◽  
Conceptual Approach ◽  
Unites States ◽  
The New Deal ◽  
Private Pension System

This chapter develops the conceptual approach used to explain pension marketization. It first discusses how Americans, relative to their counterparts in other advanced capitalist countries, have had their retirement income more greatly exposed to capitalist market processes and pressures. It then reviews the historical evolution of private pension system in the United States since the New Deal. It draws on crisis management theories to understand the development of pensions in the Unites States. Next, it presents three arguments about how the pension system was changed and oriented toward the market. These arguments serve two functions. First, taken together, they explain each of the episodes of change in the private pension system. Second, they also form the conceptual framework for thinking about the structural contingency of welfare state change.

scholarly journals Retirement Planning Behaviour of Working Individuals and Legal Proposition for New Pension System in Malaysia

2016 ◽  
Vol 9 (4) ◽  
pp. 43 ◽  
Author(s):  
Kamal Halili Hassan ◽  
Rohani Abdul Rahim ◽  
Fariza Ahmad ◽  
Tengku Noor Azira Tengku Zainuddin ◽  
Rooshida Rahim Merican ◽  
...  
Keyword(s):  
Private Sector ◽  
Financial Literacy ◽  
Pension System ◽  
Retirement Planning ◽  
Private Pension ◽  
Pension Scheme ◽  
Age Group ◽  
Goal Clarity ◽  
Voluntary Basis ◽  
Private Pension System

<p class="MsoNormal" style="text-align: justify;">Problems have been identified pertaining to retirement scheme of the private sector employees in Malaysia where there is no legislated pension system in force. As a result of that, pension scheme and savings are more of a voluntary basis; although the principle is good but in practice many retirees suffer financially during their retirement. The objectives of this study are to examine factors contributing to individual’s retirement planning behavior and the private pension system in the private sector in Malaysia. Retirement planning behaviour in this study was measured with series of questions on behaviour about retirement planning. A total of 500 working individuals from private sectors in the age group of 40 years and above had participated in this study. The results identified several significant variables in the prediction of retirement planning among working individuals in Malaysia, including individual who had higher levels of education, higher levels of income, financial literacy, retirement goal clarity and attitude towards retirement. There is a correlation between retirement planning behavior and saving for old aged. As a response to the result collected from the survey, a legal proposition is put forward to address issues of pension during retirement among private sector’s employees.</p>

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