Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy

This study explores the impact of accumulated pension funds on the investment level and economic growth in South Africa using Bayesian Linear Regression (BLR) model. Time series data on Gross Domestic Product (GDP), total official pension funds and gross fixed capital formation (as a proxy for total...

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Autores principales:	Kazeem Abimbola Sanusi, Forget Mingiri Kapingura
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2021
Materias:	pension funds economic growth investment bayesian linear regression fully modified ordinary least square Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/e0aa8ca92cc64a25b35a4ab39e9b9ddc
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spelling	oai:doaj.org-article:e0aa8ca92cc64a25b35a4ab39e9b9ddc2021-12-02T18:17:07ZPension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy2331-197510.1080/23311975.2021.1935661https://doaj.org/article/e0aa8ca92cc64a25b35a4ab39e9b9ddc2021-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2021.1935661https://doaj.org/toc/2331-1975This study explores the impact of accumulated pension funds on the investment level and economic growth in South Africa using Bayesian Linear Regression (BLR) model. Time series data on Gross Domestic Product (GDP), total official pension funds and gross fixed capital formation (as a proxy for total investment level) from 1990(Q1) to 2019(Q3) were employed. The study makes use of MCMC (Markov Chain Monte Carlo) algorithm to obtain regression model parameters. The empirical findings from Bayesian Linear Regression estimation suggest that the mean effects of pension funds on economic growth and investment level in South Africa are approximately zero. The empirical conclusion is further corroborated by FMOLS results, which show that accumulated pension funds have no significant impact on the overall investment level and economic growth in South African economy. The study recommends that policy makers and the pension funds regulators have to come up with workable means by which pension funds can be invested to significantly benefit the economy; at the same time, ensuring the safety of the invested funds so as not to jeopardize the interest of pension funds owners.Kazeem Abimbola SanusiForget Mingiri KapinguraTaylor & Francis Grouparticlepension fundseconomic growthinvestmentbayesian linear regressionfully modified ordinary least squareBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 8, Iss 1 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	pension funds economic growth investment bayesian linear regression fully modified ordinary least square Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	pension funds economic growth investment bayesian linear regression fully modified ordinary least square Business HF5001-6182 Management. Industrial management HD28-70 Kazeem Abimbola Sanusi Forget Mingiri Kapingura Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy
description	This study explores the impact of accumulated pension funds on the investment level and economic growth in South Africa using Bayesian Linear Regression (BLR) model. Time series data on Gross Domestic Product (GDP), total official pension funds and gross fixed capital formation (as a proxy for total investment level) from 1990(Q1) to 2019(Q3) were employed. The study makes use of MCMC (Markov Chain Monte Carlo) algorithm to obtain regression model parameters. The empirical findings from Bayesian Linear Regression estimation suggest that the mean effects of pension funds on economic growth and investment level in South Africa are approximately zero. The empirical conclusion is further corroborated by FMOLS results, which show that accumulated pension funds have no significant impact on the overall investment level and economic growth in South African economy. The study recommends that policy makers and the pension funds regulators have to come up with workable means by which pension funds can be invested to significantly benefit the economy; at the same time, ensuring the safety of the invested funds so as not to jeopardize the interest of pension funds owners.
format	article
author	Kazeem Abimbola Sanusi Forget Mingiri Kapingura
author_facet	Kazeem Abimbola Sanusi Forget Mingiri Kapingura
author_sort	Kazeem Abimbola Sanusi
title	Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy
title_short	Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy
title_full	Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy
title_fullStr	Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy
title_full_unstemmed	Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy
title_sort	pension funds as fuel for overall investment level and economic growth: an empirical insight from south african economy
publisher	Taylor & Francis Group
publishDate	2021
url	https://doaj.org/article/e0aa8ca92cc64a25b35a4ab39e9b9ddc
work_keys_str_mv	AT kazeemabimbolasanusi pensionfundsasfuelforoverallinvestmentlevelandeconomicgrowthanempiricalinsightfromsouthafricaneconomy AT forgetmingirikapingura pensionfundsasfuelforoverallinvestmentlevelandeconomicgrowthanempiricalinsightfromsouthafricaneconomy
_version_	1718378304771194880

Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy

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