A Long Financial March: Pension Reform in China

Béland, Daniel; Yu, K.

doi:10.1017/s004727940300744x

Cited by 37 publications

(31 citation statements)

References 51 publications

(45 reference statements)

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“…3 Béland and Yu (2004) adopt a similar approach, investigating how conflicts between economic interests and policy ideas interact with institutional structures to shape pension policy outcomes.…”

Section: Discussionmentioning

confidence: 99%

“…The situation calls for constant policy change, yet if it proceeds too quickly, it risks losing the confidence of the population, undermining its legitimacy. Béland and Yu (2004) note that private business is resisting moves to expand pension coverage because they do not see it as a priority for their predominantly younger workforce. West (1999) has raised concerns about the affordability of the pension reforms, arguing that the multiplicity of the new social pooling accounts (which in part reflects variations in administrative capacity) adds to complexity and impedes labour mobility, thereby thwarting efforts to improve enterprise efficiency.…”

Section: Reviewing the Income Support System In Contextmentioning

confidence: 99%

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The Role of State and Family in the Living Conditions of Older People in Urban China: Changing Attitudes and Outcomes

Saunders

2006

Social Policy & Society

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This paper uses a unique national dataset to examine the attitudes and living standards of older people (aged 60 and over) living in urban areas of China, including their living arrangements and income levels, and their attitudes to family-based and other forms of support. The results indicate that although there have been substantial improvements in the overall living conditions of the majority of older people in China, marked differences remain in the economic circumstances of sub-groups classified by age and, more particularly, gender. Many of today's older people are also wedded to traditional attitudes and patterns of behaviour, and informal family support remains important -for men and women, as well as for younger and older groups among those aged 60 and over.

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Section: Discussionmentioning

confidence: 99%

Section: Reviewing the Income Support System In Contextmentioning

confidence: 99%

The Role of State and Family in the Living Conditions of Older People in Urban China: Changing Attitudes and Outcomes

Saunders

2006

Social Policy & Society

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“…Yet, with the exception of a few works such as Béland and Yu (2004), the role of ideas has thus far not been systematically integrated into research on Chinese social policy. Several studies have indeed pointed to the distinctive characteristics of Chinese culture in social welfare (e.g.…”

Section: Studying Chinese Rural Pension Policymentioning

confidence: 99%

“…2 2 Recent articles discussing pension reform in urban China are abundant: see, for example, Béland and Yu (2004), Smyth (2000), West (1999), Whiteford (2003) and World Bank (1997). …”

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confidence: 99%

Left to Market and Family – Again? Ideas and the Development of the Rural Pension Policy in China

Shi

2006

Soc Policy Adm

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The rural pension policy in China is characterized by a high degree of instability. In the past  years since the introduction of pilot schemes in some regions, the state has been unable to establish a stable institutional framework for rural old-age security. This article seeks to integrate the theoretical insights from a growing body of international literature on the role of ideas in social policy reform in order to shed new light on the study of Chinese rural pension policy. I argue that the rise of the rural pension scheme and its eventual failure to make consistent progress towards a comprehensive system is directly related to conflicting ideas among bureaucrats with respect to what sort of welfare provision the rural elderly actually need. The fluctuations in this policy realm vividly illustrate the predominance of the policy idea that peasants could still rely on their land and family, supplemented by private commercial insurance, in their old age. Given this alleged self-reliance on the part of rural residents, the state is very reluctant to set up a comprehensive rural pension scheme. As a result, the old-age security of the peasants in rural China is standing on very thin ice, and the prospect for more active state involvement in the near future remains dim.

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“…1 A massive population in combination with a one-child policy is complicated by an increase in life expectancy: ' aging has become a central policy issue more quickly in China than in most developing countries ' . 2 Further, because of China ' s economic and political importance and its unique development from a socialist to capitalist economy, it provides an interesting case of pension reform.…”

Section: Introductionmentioning

confidence: 99%

China's pension reform: Challenges and opportunities

Farid¹,

Cozzarin

2009

Pensions Int J

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Mohamed Faridis pursuing a BASc in Systems Design Engineering, with an option in statistics from the University of Waterloo. His major interests are economic history, business cycles and the effect of demographics on economic growth. Brian P. Cozzarinis an associate professor in the Department of Management Sciences. His current research pertains to fi nancial aspects of biotechnology alliance formation, estimation of complementarities in training and innovation and modelling technology adoption as a constrained shortest path problem. His PhD in Agricultural Economics is from the University of Illinois.ABSTRACT China is transitioning from an unfunded pay-as-you-go to a funded pension system. Because of a rapidly ageing population, this transition is vital in maintaining the state ' s ability to fund its future pension liabilities. To complete this transition, China must be able to fund current pension liabilities owed to workers who did not contribute to funding the system. Furthermore, it must fund the asset accumulation for the accounts of future retirees. This puts China under substantial strain, which can only be dealt with by tightening fi scal policy and speeding up sales of state-owned enterprises. Sustaining a funded system in the long term provides China with several challenges and opportunities. The pension system should be privatised, and the government ' s role reduced to monitoring fund managers. To function properly, transparency must be increased, allowing authorities to monitor risks taken by pension fi rms. The pension funds should be given fl exibility to invest in whatever fi nancial market they see fi t; hence, China ' s investor protection laws should be reformed. As stable long-term and possibly activist investors, the growth of pension funds will lead to more effi cient fi nancial markets, and more venture capital funding, allowing China ' s growth to continue.

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A Long Financial March: Pension Reform in China

Cited by 37 publications

References 51 publications

The Role of State and Family in the Living Conditions of Older People in Urban China: Changing Attitudes and Outcomes

The Role of State and Family in the Living Conditions of Older People in Urban China: Changing Attitudes and Outcomes

Left to Market and Family – Again? Ideas and the Development of the Rural Pension Policy in China

China's pension reform: Challenges and opportunities

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