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养老基金的国外投资:国际经验与中国的选择 被引量:3

Overseas Investment of Pension Funds: International Practice and Chinese Conditions
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摘要 从国际经验来看,各国近年来纷纷放松对养老基金投资组合的限制,养老基金国外证券投资的比重有增大的趋势。目前我国养老基金还不可能大规模进入国外证券市场,但在保证投资安全性的同时,也不能消极等待。
作者 王信
出处 《证券市场导报》 北大核心 2003年第3期60-65,共6页 Securities Market Herald
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参考文献13

  • 1Artis,M.,and M.Taylor,1989,"Abolishing exchange control:The UK experience,"CEPR Discusion Paper No.294,London.
  • 2Baxter,M., and R.King,2001,"The role of international investment in a privatized social security system",in Risk Aspects of Investment-Based Social Security Reform,edited by J./campbell and M.Feldstein,The University of Chicago Press.
  • 3Bodie,Zvi,and Robert Merton,2002,"International pension swaps",Journal of Pension Economics and Finance,January.
  • 4Culhane,M.,2001"Globhal aging-capital market implications",Goldman Sachs,February 6.
  • 5EFRP,1996,"European pension funds,their impacts on capital markets and competitiveness",European Federation for Retirement Provision,Brssels.
  • 6Gorman,Stephen,1998,"Introduction:The international equity commitment",Research Foundation of the Institute of Chartered Financial Analysts.
  • 7International Monetary Fund (IMF),2002,Annual Report on Exchange Arrangements and Exchange Restrictions.
  • 8Schwarz,kDemurgic-Kunt,1999,"Taking stock of pension reforms around the world",SP Discussion Paper.No.9917,World Bank.
  • 9World Bank,1997,"Private capital flows to developing countries",World Bank Policy Research Report.
  • 10即使在美国,有关抽出小部分基本养老保险信托基金用于国内股票和企业债券市场投资的争论进行了很久,一直也难以实现.

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