Thursday, 15 March 2018: 9:30 AM
Developed countries like the United States, European countries and Asian countries like Japan are faced with a growing aging population and saving adequately for retirement. This aging trend requires younger generations to adapt their savings behavior when considering the different investment choices particularly when most public pension systems are underfunded with lackluster performance returns. Private savings to supplement their 401k and public pensions and institutional capital markets as a conduit for the younger generations would become more important if they are to have adequate retirement income. This paper looks at a comparison of savings behavior choices of United States, Germany, Poland and Japan and the effects on institutional capital markets growth to accommodate the increased flow from private savings for retirement. The main sources of data will be national statistics, World Bank, and OECD publications. The years of analysis were 2010-2016.
In our research, we will apply statistical methods describing the structure of saving. We will also provide temporal analysis, thus measures of dynamics will be employed. Since the savings of the households depend on the level of life and the economic development of the country we will provide correlation and regression analysis to identify the factors influencing level and structure of savings the most.
Our research is a primary analysis and we expect that in addition to the factors mentioned there might be different patterns of savings depending on:
- culture, style of life,
- tradition and
- level of the financial market development, offering the variety of financial products and services.
It is also worth mentioning that cost of services and transitions may essentially differ in analyzed countries therefore also this factor should be taken into account.