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Population Ageing and International Capital Flows. ENEPRI Occasional Papers No. 4, October 2003

Canton, Eric and van Ewijk, Casper and Tang, Paul U.G. (2003) Population Ageing and International Capital Flows. ENEPRI Occasional Papers No. 4, October 2003. UNSPECIFIED.

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    We review the existing evidence on the role of international capital markets in an ageing world in a non-technical way and with an eye towards policymakers. The set-up of this paper is as follows: In section 2 we sketch the important demographic changes ahead of us. We pay attention to differences across countries in these demographic transitions, as well as to the factors behind the process of demographic changes. Section 3 discusses how the different factors underlying the ageing process influence the balance between national savings and investment. It takes a closer look at the different elements of the current account: savings, investment and the government budget. It also addresses possible policy responses to ageing and their effect on international capital flows. Section 4 then considers the empirical evidence about capital mobility and the possibility that capital will flow from North to South (and back). Section 5 then studies the effects of a lower (or higher) interest rate on the effectiveness of savings-enhancing policies, using the example of the funded pension system of the Netherlands. Section 6 draws conclusions.

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    Item Type: Other
    Subjects for non-EU documents: EU policies and themes > External relations > international economy
    EU policies and themes > Policies & related activities > social policy > welfare state
    Countries > Netherlands
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ENEPRI Occasional Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 27 Aug 2009
    Page Range: p. 44
    Last Modified: 15 Feb 2011 18:14

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