Publication:
Competition and Performance in the Hungarian Second Pillar

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dc.contributor.authorImpavido, Gregorio
dc.contributor.authorRocha, Roberto
dc.date.accessioned2012-06-18T19:49:24Z
dc.date.available2012-06-18T19:49:24Z
dc.date.issued2006-04
dc.description.abstractThe performance of the Hungarian second pillar since inception has been mixed. This is partly due to a less than satisfactory support for the 1997 pension reform, conservative fund portfolio distributions, the hybrid nature of the mandatory pension fund system, the segmented nature of the market in terms of costs, and a less than aggressive commitment on the part of the Hungarian Financial Supervisory Authority to a low-cost, transparent, and competitive equilibrium. In the accumulation phase, the authorities would need to further promote transparency and comparability of information on costs and investment performance, facilitate migration to lower cost funds, and more generally promote competition. The regulatory framework of the payout phase needs to be overhauled before the first cohort of workers retires.en
dc.identifierhttp://documents.worldbank.org/curated/en/2006/04/6691780/competition-performance-hungarian-second-pillar
dc.identifier.doi10.1596/1813-9450-3876
dc.identifier.urihttps://hdl.handle.net/10986/8331
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 3876
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectASSET MANAGEMENT
dc.subjectASSET MANAGEMENT COMPANIES
dc.subjectASSETS
dc.subjectBENCHMARK
dc.subjectBONDS
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL REQUIREMENTS
dc.subjectDEBT
dc.subjectDISCLOSURE
dc.subjectDISCLOSURE RULES
dc.subjectDOMESTIC INVESTMENT
dc.subjectEQUITY MARKETS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL SECTOR
dc.subjectFISCAL ADJUSTMENT
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICY
dc.subjectFIXED INCOME
dc.subjectGDP
dc.subjectGOVERNMENT BALANCE
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT SECURITIES
dc.subjectGROSS NATIONAL SAVINGS
dc.subjectINDEXATION
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINVENTORIES
dc.subjectINVESTMENT REGULATION
dc.subjectINVESTMENT RETURN
dc.subjectLIQUIDITY
dc.subjectMERGERS
dc.subjectMUTUAL FUND
dc.subjectMUTUAL FUND SHARES
dc.subjectNOMINAL INTEREST RATES
dc.subjectPAYOUT
dc.subjectPENSION FUND
dc.subjectPENSION FUNDS
dc.subjectPENSION REFORM
dc.subjectPENSION SYSTEMS
dc.subjectPER CAPITA INCOME
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO COMPOSITION
dc.subjectPORTFOLIOS
dc.subjectPRIVATE EQUITY
dc.subjectPRIVATE PENSION
dc.subjectPROFIT MOTIVE
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC SECTOR
dc.subjectRATE OF RETURN
dc.subjectRATES OF RETURN
dc.subjectREAL INTEREST RATES
dc.subjectREAL RATE OF RETURN
dc.subjectREAL RATES OF INTEREST
dc.subjectREAL WAGE
dc.subjectREGULATORY FRAMEWORK
dc.subjectRISK PREMIUM
dc.subjectSECURITIES
dc.subjectT-BILLS
dc.subjectTRANSPARENCY
dc.subjectTRUSTS
dc.subjectVALUATION
dc.subjectWAGES
dc.titleCompetition and Performance in the Hungarian Second Pillaren
dspace.entity.typePublication
okr.crossref.titleCompetition And Performance In The Hungarian Second Pillar
okr.date.doiregistration2025-04-10T09:39:39.649443Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2006/04/6691780/competition-performance-hungarian-second-pillar
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid637841468252017347
okr.identifier.doi10.1596/1813-9450-3876
okr.identifier.externaldocumentum000012009_20060329093828
okr.identifier.internaldocumentum6691780
okr.identifier.reportWPS3876
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/03/29/000012009_20060329093828/Rendered/PDF/wps38760rev0pdf.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryHungary
okr.topicEconomic Theory and Research
okr.topicLaw and Development::Settlement of Investment Disputes
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicMacroeconomics and Economic Growth::Economic Stabilization
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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