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2018 | 11 | nr 2 | 289--304
Tytuł artykułu

Conceptual Approaches to Improving the Functioning of Non-state Social Insurance Institutions in Ukraine

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The influence of social expenditures and their structure on economic growth in the OECD countries for the years 1980-2015 was estimated. It was established that higher rates of economic growth are observed in the countries with the accumulative principle of financing of social expenditures (on average, for the investigated period 2.94% as compared to 1,87% in countries with distribution systems). It was determined that low level of profitability of investment activity (for the analyzed period - 2008-2015) was the main reason for slow development of the system of non-state social insurance in Ukraine. 75.94% of private pension funds had positive mid-year nominal income, 26.3% of which had nominal income at the level of 10-20% and only 10.6% - more than 20%. Analysis of the formation of investment portfolios of non-state social insurance institutions in Ukraine was conducted so that to determine the influence of socioeconomic factors on income and risk profile of certain financial assets included in portfolio. The authors calculated the structure of two investment portfolios - in a favorable economic situation with low inflation and during an economic downturn, accompanied by high level of inflation. Calculations were carried out using the Markowitz method of investment portfolio optimization. The algorithm of investment activity management for non-state social insurance on the basis of the Prudent Investor strategy was developed.(original abstract)
Rocznik
Tom
11
Numer
Strony
289--304
Opis fizyczny
Twórcy
  • National University of Horticulture Uman, Ukraine
  • Uman National University of Horticulture of Ukraine
  • Uman National University of Horticulture of Ukraine
Bibliografia
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  • Davis, E. P. (2002). Prudent person rules or quantitative restrictions? The regulation of longterm institutional investors' portfolios. Journal of Pension Economics & Finance, 1(2), 157-191.
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  • Korpi, W. (1985). Economic Growth and the Welfare State: Leaky Bucket or Irrigation System? European Sociological Review, 1(2), 97-118.
  • Malyovanyi, M., & Melnyk, K. (2014). Economic and Statistical Analysis of Development of Non-state Retirement Insurance System in Ukraine. Economics and Sociology, 7(2), 109-122.
  • Malyovanyi, M., Barabash, L., & Bondarenko, N. (2015). Socio-economic determinants' impact on financial support for social safety in Ukraine. Economic Annals-XXI, 2(3-4), 41-45.
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  • Modigliani, F. (1966). The life cycle hypothesis of saving, the demand for wealth and the supply of capital. Social Research, 160-217.
  • Nebaba, N. O. (2015). Investigation of Non-State Pension Funds Investments. Economics and Finance, 1, 48-55.
  • OECD recommendation on core principles of occupational pension regulation. http://www.oecd.org/finance/private-pensions/33619987.pdf (referred on 21/02/2017).
  • Pereira, A. M., & Andraz, J. M. (2015). On the Long-Term Macroeconomic Effects of Social Security Spending: Evidence for 12 EU Countries. Journal of International Business and Economics, 3(2), 63-78.
  • Postnyi, A. (2014). Foreign Experience of the Investment Policy of Non-Governmental Pension Funds: Lessons for Ukraine. Economist, 8, 36-38.
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Typ dokumentu
Bibliografia
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