Επενδύσεις αποθεματικών ασφαλιστικών ταμείων στα πλαίσια της παγκοσμιοποίησης

Abstract

Developed countries try to face the demographic problem by adopting partially funded supplementary
pension plans, and /or by accumulating additional reserves in the pay-as-you-go pension
systems. International experience shows that the returns on the investments of the pension
funds have been adequate so far. Returns are higher in countries that have adopted more liberal
investment regulations than in countries with more restrictive practices. In the near future the
developed countries will face the problem of where to invest the huge amounts of capital that are
currently being accumulated all over the developed world in order to face the pension problem.
It is proposed that inevitably these funds will be invested in the younger demographic regions of
the third-world developing countries. These pension fund flows will become the main drivers of
globalization, which eventually will: (a) contribute to the economic development of third- world
and (b) provide the means for financing the increased needs of the retired population in the
developed countries.