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Financial Convergence Analysis: Implication for Insurance and Pension Markets

Verslas: teorija ir praktika, 2016-06, Vol.17 (2), p.89-100

COPYRIGHT 2016 Vilnius Gediminas Technical University ;2016. This work is published under http://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 1648-0627 ;EISSN: 1822-4202 ;DOI: 10.3846/btp.2016.536

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Title:
Financial Convergence Analysis: Implication for Insurance and Pension Markets
Author: Kuznetsova, Natalia ; Pisarenko, Zhanna V
Subjects: Banking ; Capital markets ; Competition ; complex integrated financial product ; Cost control ; Demographic aspects ; Econometrics ; Economic aspects ; Economic growth ; Economy ; Emerging markets ; Financial analysis ; financial convergence ; Financial institutions ; Financial Markets ; Growth models ; Hypotheses ; Institutional investments ; institutional investors ; Insurance ; Insurance companies ; insurance market ; International finance ; Methods ; Pension funds ; pension market ; Pension plans ; Pensions ; Prices ; Securities markets ; Statistical analysis
Is Part Of: Verslas: teorija ir praktika, 2016-06, Vol.17 (2), p.89-100
Description: The proposed paper is one of a set of articles dedicated to the new phenomenon in the global and national financial markets – financial convergence – and is focused on theoretical issues. The hypothesis of the article is to argue whether the financial convergence determines the directions of financial market (namely, insurance and pension sectors) development. Adequately the goal of this paper is to analyze the existence of convergence processes in the insurance and pension markets. Methods of systematic and logical analysis are used. In the first part authors give brief history of the convergence phenomenon research. Then the paper analyses influence of financial convergence on insurance and pension markets, manifested in the following effects: mix of financial institutions functions; distribution channels advantages, increase of insurance and pension funds companies’ competitiveness; governance models convergence. The major results of the study are: demographic shifts in different developed and emerging markets countries caused the need to reform the social security systems and public pension schemes and refocus them to the market-based financial convergence model; pension funds, acting as institutional investors, are the leading players in the contemporary global financial market; competition at the financial market causes the expansion of a number of services offered by various organizations: banks, insurance companies, pension funds and so on, which offer a wide range of services not directly related to their core businesses; the mixing of financial institutions functions from the insurance, pension and banking sectors, increased competition for customers at the national and global financial market.
Publisher: Vilnius: Vilnius Gediminas Technical University
Language: English;German;Lithuanian
Identifier: ISSN: 1648-0627
EISSN: 1822-4202
DOI: 10.3846/btp.2016.536
Source: CEEOL: Open Access
ProQuest Central
DOAJ Directory of Open Access Journals

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Financial Convergence Analysis: Implication for Insurance and Pension Markets

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