IS THE ROMANIAN FINANCIAL MARKET PREPARED TO SUPPORT PENSION SYSTEM REFORM?
IS THE ROMANIAN FINANCIAL MARKET PREPARED TO SUPPORT PENSION SYSTEM REFORM?

Summary/Abstract: The paper outlines the challenges that a multi-pillar functional pension system may bring, considering the current state of development of the Romanian financial system, considering the macroeconomic stability, the current financial infrastructure and the existence of a regulatory and supervisory framework. After realizing an overview over the Romanian pension market, issues like the capacity of the domestic financial market of generating long-term returns and adequate financial instruments are also addressed from an analytical point of view.

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