Options and impact of China's pension reform: a computable general equilibrium analysis

Yan, Weili; Xu, Dianqing; Wang, Zhi; Zhai, Fan

doi:10.1016/j.jce.2003.10.003

Cited by 48 publications

(25 citation statements)

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“…Even so, because of the rigidity of social security benefits (Wang, Xu, Wang, & Zhai, 2004), their pensions cannot be decreased, even relatively. We propose that the growth rate of pensions under these schemes should equal the sum of per capita net income growth rate and urban consumer price inflation so as to maintain elderly people's relative income level, over time.…”

Section: Establishing the Dynamic Parameters-adjusting Mechanismmentioning

confidence: 99%

Pension fairness in China

Wang

Béland

Zhang

2014

China Economic Review

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Section: Establishing the Dynamic Parameters-adjusting Mechanismmentioning

confidence: 99%

Pension fairness in China

Wang

Béland

Zhang

2014

China Economic Review

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“…In 1997 MOF transferred money # Estimates for China range from 46-69 % of GDP in World Bank (1997) to 71 % of GDP in Wang et al (2000). In 1997 MOF transferred money # Estimates for China range from 46-69 % of GDP in World Bank (1997) to 71 % of GDP in Wang et al (2000).…”

Section: The Nature Of the Transition Problem In Chinamentioning

confidence: 99%

How can China solve its old-age security problem? The interaction between pension, state enterprise and financial market reform

James¹

2002

Journal of Pension Economics and Finance

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Like most countries, China faces a rapidly aging population and a looming social security crisis. Prefunding and unifying a fragmented system are at the heart of the government's projected reforms that are intended to prevent this crisis. The Chinese plan to set up individual accounts to deal with these problems is retarded by three key factors:1 transition costs must be covered in any move toward prefunding, and the Chinese government is still trying to figure out how to accomplish this;2 the current social security system is characterized by fragmentation and decentralized administration, which lead to principal–agent/ moral hazard issues that make it more difficult to cover transition costs, decrease early retirement and increase compliance;3 the funds that have accumulated have not been invested in diversified portfolios by competitive management and have not earned a high rate of return.This paper focuses on these three problems as well as the complex interactions between pension, financial market and state-owned enterprise (SOE) reform. We summarize the bold steps that the government has announced during second half of 2001 to link pension, financial market and SOE reform.

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“…The impact of ageing in China has been studied from various aspects such as the economic impact of pension reform options in China [5,6]; the ageing impact on economic growth through influence in labor market [7][8][9][10][11][12][13]; the population ageing impact on poverty and income inequality [14,15]; and the ageing impact on household consumption [16,17]. These studies focus on the ageing impact in China while the interplay between China and other countries is largely overlooked.…”

Section: Introductionmentioning

confidence: 99%

Ageing Impact on the Economy and Emissions in China: A Global Computable General Equilibrium Analysis

2018

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Population ageing will accelerate in the coming decades in China. This ageing may have considerable impact on the economy and energy-related emissions, potentially affecting the global economy and global climate. By using a global computable general equilibrium (CGE) model we explore the impact caused by the population ageing through imposing the expected 2050 age structure on the economy and population size of 2011. Results show that gross domestic product (GDP) of China is reduced by nearly 10% as the ageing reduces consumption, labor supply and investments. However, increasing returns to capital abroad adds support to domestic demand. Ageing process in other countries can double ageing impacts on domestic consumption and encourage only a few production sectors in China. Global energy-related emissions is reduced by 700 Mt carbon dioxide (or about 70% of the 2011 emissions in Japan) due to the population ageing in China.

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Options and impact of China's pension reform: a computable general equilibrium analysis

Cited by 48 publications

References 20 publications

Pension fairness in China

Pension fairness in China

How can China solve its old-age security problem? The interaction between pension, state enterprise and financial market reform

Ageing Impact on the Economy and Emissions in China: A Global Computable General Equilibrium Analysis

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