Urban Public Pension and Economic Growth in China
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Zaigui Yang
Employing an endogenous growth model, this paper investigates China’s partially funded public pension system. We examine the effects of the firm contribution rate and individual contribution rate on the per capita income growth rate, population growth rate, saving rate and education expense rate. The results are as follows: Raising the firm contribution rate decreases the per capita income growth rate and saving rate, whereas increases the population growth rate and education expense rate. Raising the individual contribution rate decreases the per capita income growth rate, saving rate and education expense rate, whereas increases the population growth rate. The effect of the firm contribution rate on the per capita income growth rate is much greater than that of the individual contribution rate. The effects of the firm contribution rate on the population growth rate, saving rate and education expense rate are smaller than that of the individual contribution rate. It has more advantages than disadvantages to reduce the firm contribution rate and raise the individual contribution rate.
©2012 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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- Optimal Demand for Insurance with Consumption Commitments
- Individual Welfare Gains from Deferred Life-Annuities under Stochastic Mortality
- Solvency Determinants of Conventional Life Insurers and Takaful Operators
- Urban Public Pension and Economic Growth in China
- Asset Risk Management of Participating Contracts
- Risk Perception of Investors in Initial Public Offer of Shares: A Psychometric Study
Articles in the same Issue
- Featured Article
- Optimal Demand for Insurance with Consumption Commitments
- Individual Welfare Gains from Deferred Life-Annuities under Stochastic Mortality
- Solvency Determinants of Conventional Life Insurers and Takaful Operators
- Urban Public Pension and Economic Growth in China
- Asset Risk Management of Participating Contracts
- Risk Perception of Investors in Initial Public Offer of Shares: A Psychometric Study
