Impact of population aging on the dynamics of stock markets. The case of five CEE countries
Impact of population aging on the dynamics of stock markets. The case of five CEE countries

Summary/Abstract: Numerous studies have tried to model the connection between aging and the financial markets, showing the possibility of a future meltdown in the financial markets, via lower savings and investments given the reaching of the baby-boom cohorts at the age of retirement. In general the research has focused on the case of more industrialized countries, were the aging phenomenon is more felt in the present. The case of Central and Eastern European countries was somehow left aside, although the issue of aging should be an important one, considering also the current state of development of the CEE capital markets. Our empirical work, based on the case of five CEE countries, suggests also that the demographic dynamics have had a detectable impact on the domestic stock market.

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