Inadequacies of regulations on supplementary pension plans in Central and Eastern European countries

2021 ◽  
pp. 138826272110389
Author(s):  
Joanna Rutecka-Góra
Keyword(s):  
Old Age ◽  
Risk Sharing ◽  
Pension Plans ◽  
European Countries ◽  
Eastern European ◽  
The Czech Republic ◽  
Pension Systems ◽  
Product Assessment ◽  
Eastern European Countries ◽  
Pension Benefits

The supplementary occupational and individual pension systems in Central and Eastern European countries (CEE) are poorly regulated while their architecture is very complex. Law on supplementary pensions focuses on ensuring financial security of financial institutions, their liquidity and solvency, as well as on stimulating the development of additional pension protection understood as higher coverage and assets under management. The efficiency guarantees and cost limits have not been implemented and the profitability of such products for individual savers is rarely assessed. The analyses conducted on the regulation of voluntary old-age pension systems in Bulgaria, Estonia, Latvia, Lithuania, Poland, Slovakia and The Czech Republic indicated the main inadequacies of the supplementary old-age provision offered. They relate to the lack of preliminary and regular product assessment, inadequacy of plan design, efficiency and costliness. The recommended changes relate to risk sharing, forms of pension benefits, limits on costs, information policy and transparency.

A Mistrustful Society?

2020 ◽  
Vol 10 (2) ◽  
pp. 52-71
Author(s):  
Nicole Horáková
Keyword(s):  
Czech Republic ◽  
Empirical Data ◽  
European Countries ◽  
Eastern European ◽  
The Czech Republic ◽  
State Institutions ◽  
Government Institutions ◽  
European Values ◽  
European Values Study ◽  
Eastern European Countries

The level of trust in politicians also in government institutions is taken as an indicator of the state of society in general. Various studies have shown that the population of the Central Eastern European countries, and especially the citizens of the Czech Republic, lack trust in state institutions and democratic structures. The trust of the Czech population in government institutions is, compared to other (Western) European countries, at a relatively low level. This article aims to discuss different factors that are currently influencing this lack of trust: the historical, cultural, and institutional. The empirical data for this article is based on the European Values Study and Czech surveys of public opinion concerning trust in government institutions.

scholarly journals Susceptibility to smoking and associated factors among the youth in central and eastern European countries. 

2021 ◽  
Author(s):  
Kinga Polanska ◽  
Malgorzata Znyk ◽  
Dorota Kaleta
Keyword(s):  
Czech Republic ◽  
Young People ◽  
Passive Smoking ◽  
Smoking Initiation ◽  
European Countries ◽  
Eastern European ◽  
The Czech Republic ◽  
Susceptibility To Smoking ◽  
Eastern European Countries ◽  
Smoking Susceptibility

Abstract Background Tobacco use among young people still remains a major public health problem. The aim of this study was to examine the association between a variety of factors and susceptibility to smoking initiation and experimentation among the youth from central and eastern European countries. Methods The data used in the current analysis, focusing on current non-smokers, is available from the Global Youth Tobacco Survey, which was performed in five countries (the Czech Republic (2016), n = 3191; Slovakia (2016), n = 3178; Slovenia (2017), n = 2255; Romania (2017), n = 4681; Lithuania (2018), n = 2260). Results Among the never smokers, nearly a quarter of the students were susceptible to smoking in 4 of 5 countries (16% of those susceptible to smoking were identified in Romania). Moreover, 60% of the students in the Czech Republic, Slovakia and Slovenia, and about 50% of the students in Lithuania and Romania were found to be vulnerable to smoking experimentation (an analysis among ever smokers). The multiple regression models provided results that are consistent among all the examined countries, with the following factors identified as significant correlates of smoking initiation and experimentation: being girls, having more money available for own expenses, experiencing exposure to passive smoking in public places, as well as indicating peer smoking. Moreover, adolescents who have declared lack of antismoking education and knowledge on harmful effects of passive smoking, those who saw people using tobacco on TV, in videos or in movies as well as advertising of tobacco products at point of sales were susceptible to smoking. Finally, the students who shared an opinion that smoking helped people feel more comfortable at celebrations, parties or in other social gatherings were at higher risk of smoking susceptibility. Conclusions A high proportion of the youth from central and eastern European countries is susceptible to smoking. Personal and social factors and those related to educational and policy issues were strongly and consistently correlated with smoking susceptibility. These factors should be considered when designing and implementing anti-smoking activities among young people.

scholarly journals Comparison of Population Aging in Europe and Asia Using a Time-Consistent and Comparative Aging Measure

2019 ◽  
Vol 32 (5-6) ◽  
pp. 340-351 ◽  
Author(s):  
Arun Balachandran ◽  
Joop de Beer ◽  
K. S. James ◽  
Leo van Wissen ◽  
Fanny Janssen
Keyword(s):  
Old Age ◽  
Population Aging ◽  
Comparison Method ◽  
European Countries ◽  
Eastern European ◽  
Similar Time ◽  
National Differences ◽  
Cross Country ◽  
Eastern European Countries ◽  
Comparative Measure

Objective: We compare population aging in Europe and Asia using a measure that is both consistent over time and appropriate for cross-country comparison. Method: Sanderson and Scherbov proposed to estimate the old-age threshold by the age at which the remaining life expectancy (RLE) equals 15 years. We propose an adjustment of this measure, taking into account cross-national differences in the exceptionality of reaching that age. Results: Our old-age threshold was lower than 65 years in 2012 in Central Asia, Southern Asia, Southeastern Asia, and many Eastern European countries. These populations also experienced a higher share of elderly compared with the RLE15 method. Our method revealed more geographical diversity in the shares of elderly. Both methods exhibited similar time trends for the old-age thresholds and the shares of elderly. Discussion: Our prospective and comparative measure reveals higher population aging estimates in most Asian and Eastern European countries and more diversity in aging.

scholarly journals The CEECs in global value chains: The role of Germany

2018 ◽  
Vol 68 (1) ◽  
pp. 1-29 ◽  
Author(s):  
Łukasz Ambroziak
Keyword(s):  
Value Added ◽  
Global Value Chains ◽  
European Countries ◽  
Value Chains ◽  
Eastern European ◽  
The Czech Republic ◽  
Eastern European Countries ◽  
Fragmentation Of Production ◽  
Backward Linkages

This paper aims to present the role of Germany in the global value chains (GVCs) of 10 Central and Eastern European countries (CEECs) in 1995–2011. GVCs, being a result of the fragmentation of production processes, have changed the nature of economic globalisation. The study covers five Central European countries (CECs) (the Czech Republic, Hungary, Poland, Slovakia and Slovenia), the three Baltic States (Estonia, Lithuania and Latvia) as well as Bulgaria and Romania. Germany is chosen because it is the main trading partner of the majority of the CEECs. The illustration of the position of Germany in GVCs of the CEECs is based on trade statistics in value added terms. The research results show that Germany has become an engine of increasing integration of the CECs in the GVCs. The role of Germany as a supplier of inputs to the CECs’ exports (backward linkages) is larger than its role as an exporter of value added originating from the CECs (forward linkages).

scholarly journals Exchange Rate Volatility, Currency Misalignment, and Risk of Recession in the Central and Eastern European Countries

Risks ◽  
2021 ◽  
Vol 9 (5) ◽  
pp. 82
Author(s):  
Victor Shevchuk ◽  
Roman Kopych
Keyword(s):  
Exchange Rate ◽  
Czech Republic ◽  
Economic Freedom ◽  
Exchange Rate Volatility ◽  
European Countries ◽  
Eastern European ◽  
The Czech Republic ◽  
Heritage Foundation ◽  
The Business Cycle ◽  
Eastern European Countries

This study is aimed at estimation of the exchange rate volatility and its impact on the business cycle fluctuations in four central and eastern European countries (the Czech Republic, Hungary, Poland, and Romania). Exchange rate volatility is estimated with the EGARCH(1,1) model. It is found that exchange rate volatility is affected by the components of the Index of Economic Freedom from the Heritage Foundation, besides inflation and crisis developments. The empirical results using GMM estimation technique and comprehensive robustness checks suggest that exchange rate volatility reduces the risk of recession in the Czech Republic while the opposite effect is found for Hungary and Romania, with a neutrality for Poland. These findings continue to hold after controlling for the fiscal and monetary policy indicators. There is evidence that the RER undervaluation prevents sliding into a recession on a credible basis in Poland only, with a neutral stance for other countries. Except in Romania, higher levels of economic freedom is associated with worsening of the cyclical position of output. Among other results, stabilization policies in the recession imply fiscal tightening for the Czech Republic and Romania, higher money supply for the Czech Republic and Poland, and lower central bank reference rate for Hungary.

scholarly journals Does politics matter in the conduct of fiscal policy? Political determinants of the fiscal sustainability: Evidence from seven individual Central and Eastern European countries (CEEC)

2007 ◽  
Vol 54 (4) ◽  
pp. 489-500 ◽  
Author(s):  
Srdjan Redzepagic ◽  
Matthieu Llorca
Keyword(s):  
Czech Republic ◽  
Fiscal Policy ◽  
Ordinary Least Squares ◽  
Fiscal Sustainability ◽  
European Countries ◽  
Eastern European ◽  
The Czech Republic ◽  
Baltic Countries ◽  
Political Determinants ◽  
Eastern European Countries

This paper aims at assessing the fiscal sustainability and its political determinants in seven Central and Eastern European Countries (CEEC), namely Estonia, Latvia, Lithuania, Poland, Slovenia, Slovakia and the Czech Republic. First, using the recent sustainability approach of Bohn (1998) based on fiscal reaction function, econometric findings using Ordinary Least Squares (OLS) reveal a positive response of the primary surplus to changes in debt in several countries. In other words, fiscal policy is sustainable in Baltic countries, Slovenia and Slovakia, but not in Poland and in the Czech Republic. Second, by introducing political dummy variables, we test the electoral budget cycle and the partisan cycle theories. We find the presence of electoral and partisan cycle in Poland but not in the rest of our countries.

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