Institutional Change and the Financialisation of Pensions in Europe

Dixon, Adam D.; Sorsa, Ville-Pekka

doi:10.1179/102452909x12506915718111

Cited by 43 publications

(35 citation statements)

References 65 publications

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“…It is also investigated in the literature on financial markets and financialization (e.g. Dixon and Sorsa ), as well as in studies on how diffusion processes and international organizations contribute to the development of pension fund capitalism (Brooks ).…”

Section: The Finance‐pension Nexus: Market‐oriented Versus State‐centmentioning

confidence: 99%

A State‐centred Explanation of the Finance‐Pension Nexus: New Zealand's Pension Reforms as a Typical Case

Trampusch

2017

Soc Policy Adm

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This study analyses the decision-making processes that led to the introduction of the New Zealand Superannuation Fund (a public pension reserve and investment fund), as well as the KiwiSaver Scheme, which is New Zealand's first soft-compulsory private pension scheme. Why and how are governments engaged in the development of funded pensions? These are the questions this study addresses. In analyzing the finance-pension nexus in New Zealand, this article adopts a statecentric approach. It argues that pension funding reforms are shaped by state officials who pursue their own motives because policymakers frame funded pensions as an instrument for achieving broader fiscal, economic and financial policy outcomes. Because New Zealand is a typical case of a state-centric explanation, a study of its pension funding reforms helps in finding causal links between finance and pensions.

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Section: The Finance‐pension Nexus: Market‐oriented Versus State‐centmentioning

confidence: 99%

A State‐centred Explanation of the Finance‐Pension Nexus: New Zealand's Pension Reforms as a Typical Case

Trampusch

2017

Soc Policy Adm

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“…Pension financialisation is therefore a subcategory of the broaderand multidimensionalphenomenon of financialisation (cf. van der Zwan 2014; see also Dixon and Sorsa 2009;Ebbinghaus 2011;Engelen 2003;Hacker 2006;Langley 2008).…”

Section: Introductionmentioning

confidence: 99%

The political economy of pension financialisation: public policy responses to the crisis

Hassel

Naczyk

Wiß

2019

Journal of European Public Policy

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Financialisation has become a key feature of post-industrial economies. This special issue sheds light on pre-funded private pensions as one key component of financialisation, as they turn savings into investment via financial services providers. Public pension systems face financial pressures, resulting from ageing and rising public debt, while financial services are keen to move into the market of private pension provision. Pre-funded private pensions are shaped by regulatory policies that create and correct markets. The financial crisis has triggered policy responses including shifts in investment strategies and also a re-assessment of the role of pre-funded private pensions as a complementary, rather than a superior, source of oldage income. Policymakers' growing awareness of the benefits of collective occupational schemes administered by the social partners may pave the way for a greater role for collective schemes.

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“…Moving away from public corporations and "financial markets" in the abstract, scholars scrutinized a host of financial actors -including but not limited to institutional investors and investment vehicles -and a host of different marketsbond markets, commodity markets, housing markets, welfare markets, and so on (see e.g. Aalbers, 2008;Dixon and Sorsa, 2009;Fichtner, 2013;Finlayson, 2009;Gospel et al, 2014, Montgomerie, 2009. Finally, scholars also became more attuned to the variegated nature of the financialization process, focusing on places beyond Anglo-America (e.g.…”

Section: Exemplary For the Subsequent Manifestations Of Financializatmentioning

confidence: 99%

Financialization: An Introduction

Mader¹,

Mertens²,

Zwan³

2020

The Routledge International Handbook of Financialization

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Financialization has become the go-to term for scholarship that studies the vastly expanded role of finance in contemporary politics, economy and society. The growth of financialization studies reflects the evident need for an analytical vocabulary that can capture these key empirical developments in contemporary capitalism. Since the 1990s, a variety of divergent conceptualizations of financialization have been offered, allowing financialization studies to prosper in a transdisciplinary way. Tracing the evolution of the field's broad themes and reviewing its key definitions, we articulate what unites the diverse financialization scholarship and touch upon recent debates regarding the concept's continued value. We suggest that three principles may guide conceptualizations of financialization going forward: being limited, mechanism-oriented, and contextual. Finally, we introduce and review the contributions to six parts of the Handbook of Financialization and conclude with a brief outlook for the field.

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Institutional Change and the Financialisation of Pensions in Europe

Cited by 43 publications

References 65 publications

A State‐centred Explanation of the Finance‐Pension Nexus: New Zealand's Pension Reforms as a Typical Case

A State‐centred Explanation of the Finance‐Pension Nexus: New Zealand's Pension Reforms as a Typical Case

The political economy of pension financialisation: public policy responses to the crisis

Financialization: An Introduction

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