scholarly journals Open Pension Funds in Poland: The Efects of the Pension Privatization Process

2014 ◽  
Vol 38 (1) ◽  
pp. 102-122
Author(s):  
Leokadia Oręziak
Keyword(s):  
Old Age ◽  
Public Debt ◽  
Pension System ◽  
System Security ◽  
Pension Funds ◽  
The State ◽  
Point Of View ◽  
The Public ◽  
The Past ◽  
Privatization Process

Abstract Since their establishment in 1999, the Open Pension Funds (OPFs) have comprised a mandatory capital pillar in the pension system of Poland. The paper`s objective is to analyze the principles under which the OPFs function and assess their past and anticipated future impact on the state of the country's public fnances, particularly on the public debt. The analysis also considers the past and potential effects of the OPFs existence from the point of view of future levels of old-age pension. The studies are targeted at determining the threats connected with further maintenance of the OPFs from the point of view of both public fnance stability and pension system security.

scholarly journals System emerytalny i jego zmiany w Polsce w kontekście deficytu budżetowego oraz długu publicznego w latach 1999–2014

2015 ◽  
Vol 4 (3) ◽  
pp. 219-232
Author(s):  
Jolanta Ciak ◽  
Bożena Kołosowska
Keyword(s):  
Public Finance ◽  
Economic Policy ◽  
Public Debt ◽  
Pension System ◽  
The State ◽  
Future Generations ◽  
Financial Policy ◽  
State Budget ◽  
The Public ◽  
The Future

Since January 1999 a new pension system based on the reformed Social InsuranceInstitution (ZUS) and open pension funds (OFE) has been in force. The reformsdid not concern all the insured in ZUS uniformly, due to its scope and costs. The aim of the article is to present the changes in the Polish national pension systemand their influence on the public finance including the state budget. The influenceis considerable due to the long-lasting imbalance in the state budget and theaccumulating public debt. The authors discern that the changes suggested by thegovernment can be assessed as the choice between being responsible for presentand being responsible for the future. Thus the effects of the current changesin the pension system are moved to the future generations and the sources of theirfinancing, whether they are in the form of higher taxes, smaller public expenditureor higher public debt, will depend on the future economic policy includingthe financial policy.

scholarly journals FUNDOS DE PENSÃO, CAPITAL ESTATAL E NEODESENVOLVIMENTISMO

2014 ◽  
Vol 18 ◽  
pp. 155
Author(s):  
José Menezes Gomes
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
External Debt ◽  
Developed Countries ◽  
Pension Funds ◽  
The State ◽  
The Public ◽  
Indirect Taxes ◽  
The Usa

O artigo analisa os limites da concepção de desenvolvimento econômico decorrente da mudança do cenário internacional, desde 2003, com a alteração do fluxo internacional de capitais para os países subdesenvolvidos, acompanhado da expansão chinesa e valorização das commodities. Destaca o papel atribuído aos fundos de pensãopelo governo Lula da Silva para justificar a Contrarreforma da Previdência. Aborda o papel do BNDES e o subsídio ao grande capital. Demarca a queda da taxa básica nos EUA e seus impactos sobre a economia brasileira. Argumenta que o pagamento de juros e amortização da dívida pública se converteu no mecanismo através do qual o Estado retira recursosdos trabalhadores, através de impostos diretos e indiretos e os remete aos banqueiros e fundos de pensão. Enfatiza a generalização do neoliberalismo, visando resolver a crise capitalista através da renegociação da dívida externa, das aberturas comercial e financeira, das privatizações.Palavras-chave: Fluxo internacional de capitais, fundos de pensão, neoliberalismo, dívida pública.PENSION FUNDS, STATE-OWNED CAPITAL AND NEO-DEVELOPMENTISMAbstract: The article analyzes the limits of conception of economic development arising from the change of the international scenery, since 2003, with the alteration of the international flux of capitals to the sub-developed countries, accompanied of chinese expansion and commodities’ appreciation. It highlights the assigned role to the pension funds by Lula da Silva’s government to justify the counter-reform of the Provident Funds. It approaches the role of BNDES and the subsidy tothe grand capital. Demarcates the fall of the basic tax in the USA and its impacts on the Brazilian economy. Argues that the payment of taxes and the amortization of the public debt was converted in the mechanism through which the State withdraw resources from workers, through the direct and indirect taxes and refer those to the bankers and pension funds.Emphasizes the generalization of neoliberalism, seeking to resolve the capitalist crisis through the renegotiation of external debt, of the commercial and financial openings, and of privatizations.Keywords: International flux of capitals, pension funds, neoliberalism, public debt.

scholarly journals Ukraine’s Public Debt: Current Status and Problems

2020 ◽  
Vol 12 (515) ◽  
pp. 332-337
Author(s):  
L. O. Petyk ◽  
◽  
N. V. Horanska ◽  
N. D. Saranchuk ◽  
◽  
...  
Keyword(s):  
Public Debt ◽  
External Debt ◽  
The State ◽  
Current Status ◽  
Potential Threat ◽  
State Budget ◽  
The Public ◽  
The Past ◽  
Number Of Factors ◽  
Main Factors

In today’s conditions, it is quite problematic to pick out a State that does not use borrowings in order to further finance the needs of the State budget. Therefore, one of the most important problems of the economy of each country is the problem of changing the volume of public debt. The concept of public debt is immediately associated with a negative phenomenon. However, the experience of many countries shows the opposite – public debt is within the permissible limits of no potential threat to the economy. However, in Ukraine, its indicators in recent years have been steadily increasing and far exceeding the limits of the norm. This tendency is due to a number of factors on which the amount of public debt depends. The article is aimed at disclosing the theoretical aspects of the public debt and the State-guaranteed debt of Ukraine, as well as their differences. The structure of the debt and its volumes during 2016-2020 are researched. The views of foreign and domestic researchers on determining the concept of the aggregate public debt are considered. As result of the study, the current status of Ukraine’s public debt is reflected and the dynamics of both the public debt and the State-guaranteed debt in terms of their components have been analyzed for the past four years. The dependence of both the public debt and the State-guaranteed debt on the size of gross domestic product is considered. The share of the internal and the external debt in the composition of the public debt and the State-guaranteed debt respectively is analyzed. On the basis of the carried out analysis, the factors that affect the change in debt volumes, the main factors and causes that led to the growth of both the public and the State-guaranteed debt in Ukraine are defined, as well as the main trends and specific features of its formation. As a result, measures are proposed to overcome these problems.

IN SEARCH OF A FINANCIAL PROTECTION MODEL FOR OLD AGE

2021 ◽  
Vol specjalny (XXI) ◽  
pp. 689-697
Author(s):  
Mirosław Włodarczyk
Keyword(s):  
Old Age ◽  
Pension System ◽  
Working Life ◽  
The State ◽  
Point Of View ◽  
Rational Approach ◽  
Financial Protection ◽  
Public Authorities ◽  
Old Age Security ◽  
Adopted Model

Discussions about the shortcomings of the pension system and its design raise the question of how to ensure a dignified life after working life. According to the currently adopted model of old age security, the responsibility is generally placed on the state and its structures. A number of questions arise in this context, in particular whether this is a rational approach from the point of view of its optimality, or whether the responsibility should not be distributed among various actors: public authorities, employers, employees or someone else.

IMPACT OF GOVERNMENT DEBT ON FINANCIAL SECURITY OF UKRAINE

2017 ◽  
Author(s):  
Olena Pikaliuk ◽  
◽  
Dmitry Kovalenko ◽  
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Positive Impact ◽  
The State ◽  
Financial Security ◽  
State Budget ◽  
The Public ◽  
Debt Security ◽  
The Stability ◽  
The Impact

One of the main criteria for economic development is the size of the public debt and its dynamics. The article considers the impact of public debt on the financial security of Ukraine. The views of scientists on the essence of public debt and financial security of the state are substantiated. An analysis of the dynamics and structure of public debt of Ukraine for 2014-2019. It is proved that one of the main criteria for economic development is the size of public debt and its dynamics. State budget deficit, attracting and using loans to cover it have led to the formation and significant growth of public debt in Ukraine. The volume of public debt indicates an increase in the debt security of the state, which is a component of financial security. Therefore, the issue of the impact of public debt on the financial security of Ukraine is becoming increasingly relevant. The constant growth and large amounts of debt make it necessary to study it, which will have a positive impact on economic processes that will ensure the stability of the financial system and enhance its security.

100 Years of State Pension: Learning from the Past

2009 ◽  
Vol 15 (3) ◽  
pp. 483-501
Keyword(s):  
Financial Reporting ◽  
Public Interest ◽  
Public Debate ◽  
The State ◽  
The Public ◽  
The Past ◽  
Tangible Evidence ◽  
State Pension

The President (Mr R. S. Bowie, F.F.A.): Tonight's topic is ‘100 years of state pension: — learning from the past’. I am reminded of the expression: why are the bankers so keen to find new ways of losing money when the old ways seem to have worked perfectly well!The state pension has been going in a recognisable form for only 100 years and only for the last 60 as a universal pension; and only for the last 30 years in the form that we all might recognise today.If the Actuarial Profession can bring value to something from the past, it is to bring a perspective and a context to it so that we can learn from it. In this way, the Profession can create an informed climate within which public debate on matters of public interest can take place. As you will all know, the Financial Reporting Council are pressing the Profession hard to give tangible evidence of its commitment to the public interest, and this book falls into that category, creating an informed background for debate on a matter of huge public interest.

Taxation, Trust, and Government Debt: State-Elite Relations in Sichuan, 1850–1911

Modern China ◽  
2018 ◽  
Vol 45 (3) ◽  
pp. 239-294
Author(s):  
Elisabeth Kaske
Keyword(s):  
Public Debt ◽  
Government Debt ◽  
The State ◽  
Local State ◽  
The Public ◽  
Railway Company ◽  
The Qing Dynasty ◽  
State Elite ◽  
The 1911 Revolution ◽  
Relationship Of

This article explores the shifting relationship between the state and the rural elites in Sichuan during the last decades of the Qing dynasty through the lens of taxation and public debt by using a creditor-debtor model as a theoretical framework. Sichuan’s unique rewarded land tax surcharge, called the “Contribution” and levied since 1864, established a relationship of symbolic and economic indebtedness of the imperial and local state to the taxpayer. Western-inspired reforms after 1898 directly attacked the symbolic and economic bonds established by the Contribution. The Railway Rent Share tax shifted the creditor-debtor relationship from the state to the public Sichuan-Hankou Railway Company by making individual taxpayers into shareholders. When Beijing eventually banned what it saw as a privatization of taxation and decided to nationalize the railway company, this ignited the Railway Protection Movement, which precipitated the 1911 Revolution in Sichuan.

scholarly journals ABSTRACT OF PRACTICAL ACTIVITY OF A WORKGROUP ON «DECOMMUNIZATION» OF PUBLIC AREA OF THE TOWN OF VINNYTSIA: HISTORIAN’S VIEW

2017 ◽  
pp. 196-206 ◽  
Author(s):  
Tatiana Karoyeva
Keyword(s):  
Group Activity ◽  
Point Of View ◽  
Totalitarian Regime ◽  
Practical Activity ◽  
The Public ◽  
The Past ◽  
Public Area ◽  
Totalitarian Regimes ◽  
The Town ◽  
Selection Of

The article deals with practical activity of the workgroup created in order toadminister the Law of Ukraine «On condemnation of totalitarian regimes inUkraine and prohibition of propaganda of their insignia» within the town ofVinnytsia. The workgroup had to reveal objects containing communist andSoviet insignia that exists in the public urban area, to work out advice andpropositions as to replacing town toponyms containing insignia of communistthe totalitarian regime with new names.The article content is arranged in the following blocks: a) creation of theworkgroup; b) decision-making algorithm (from historians’ point of view);c) scientific grounds of historian group activity; d) selection of objects forfurther discussion; e) procedure of discussion of proposed new toponyms.Six historians residing in Vinnytsia were introduced into the workgroup.They belong to various generations and represent both governmental andpublic organizations. The following principles have been defined for organizingof the historian group activity: - toleration (provides for respectful attitude towards various canons ofhistoric memory except for Soviet-communist one);- historicism (due regard to be paid not only to the past but to currenttendencies and challenges of the future as well);- education (the activity has to promote dialogs between various socialgroups and formation of unified collective memory);- local topicality with a view to the formation of unified image/brand of thetown.Several approaches to practical activity on replacing of toponyms havebeen developed in order to ensure smooth work process. They were intendedto be used simultaneously or in sequence depending on the actual situation butevery proposal was concerned from the proposed standpoints in line with allthe following approaches:- historicity (provides for restoration of historical names of places andimplementation of historical and urban practical methods of representationof the town history in toponymy);- commemoration (this approach traditionally provides for drawing attentionto the formation of ethnic and national identity and cultural matrixof the nation, but in the course of solving of nation-wide problems Vinnytsiahistorian group strived to be oriented to the identity of local urbancommunity);- locality (conformity of toponyms to peculiarities of nature, history,economics and culture of Vinnytsia, Bratslavshchyna, and Podillia regions);- concreteness (provides for conformity of a toponym to its actual local(in line with toponym’s scale) circumstances (geographical, biological,industrial, cultural, religious, personological etc.);- actualization (due regard to be paid to the necessity of drawing attentionto certain events and persons that, as a rule, are not of the nationwidescale).Out of total 836 town place names, 147 toponyms (85 names) have beenreplaced with new ones and reasoning for 5 names (12 toponyms) has beenchanged. Thus decommunization encompassed 19% of the town toponymicalsystem.

scholarly journals FACTORS OF GROWTH OF THE EFFICIENCY OF PUBLIC DEBT MANAGEMENT

2021 ◽  
pp. 5-11
Author(s):  
M. E. Kosov
Keyword(s):  
Public Debt ◽  
Financial Management ◽  
The State ◽  
Debt Management ◽  
Macroeconomic Factors ◽  
The Public ◽  
Correlation And Regression Analysis ◽  
Public Financial Management ◽  
Public Debt Management ◽  
Debt Policy

Public debt is an integral part of public finances of various countries, the process of its management, including formation, maintenance and repayment has a powerful impact on the macroeconomic system of the state. The subject of the study is the public debt of the Russian Federation. The article performs a correlation and regression analysis of factors that have a direct impact on the state of the Russia’s public debt under the conditions of the restrictions caused by the Covid-19 coronavirus infection, as well as the consequences of these restrictions. The paper proposes an econometric model that describes a system of indirect macroeconomic factors that are not directly related to the state’s debt policy, but show the strongest influence on the formation of public debt in modern realities and increase the efficiency of its management, as well as reflect the quality of public financial management in general. The author concludes that the demographic burden and the indicator reflecting the ratio of the budget deficit to the total budget revenue have the greatest impact on the effectiveness of public debt management.

Sound in the archive: Media materials as archives of narrative

2021 ◽  
Vol 46 (3) ◽  
pp. 78-83
Author(s):  
Seth Ellis
Keyword(s):  
Oral History ◽  
The State ◽  
The Public ◽  
The Past ◽  
And Performance ◽  
State Library ◽  
Affective Impact

This paper describes and evaluates research undertaken by the author at the State Library of Queensland, in the collection, cataloguing, and presentation of audiovisual materials—specifically, sound materials beyond oral history and performance. It suggests that strategies drawn from transcription can make the sounds of the past more evident in digitised catalogues, and thus can make those sounds themselves more accessible to the public. In doing so it offers a different affordance of the archive to public experience: not just information about the past, but the affective impact of the past.

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