We empirically test on a panel of OECD countries the hypothesis of a direct and positive link between funding of pensions and economic growth, which is based on the idea that richer pension systems can accelerate the development of the financial system and thus promote a more efficient capital...

This paper proposes a new class of estimators of the long-run average relationship when there is no individual time series cointegration. Using panel data with large cross section (n) and time series dimensions (T), the estimators are based on the long-run average variance estimate using...