养老金融资制度与经济增长分析

An Analysis on Economic Growth Effect of Financed Pension System

本文通过以"储蓄"为中间变量和经济增长的"黄金律"这两种路径对养老金融资制度的经济增长效应进行分析,认为养老金融资制度通过改变人们的收入预算约束来影响储蓄行为,进而通过资本因素对经济增长产生影响。对经济增长"黄金律"分析发现无论哪种单一的融资制度都不能通过储蓄率对经济增长产生影响,以对我国养老保险制度设计提供一定的借鉴意义。

Based on＂savings＂and the＂golden rule＂of economic growth,this paper analyzed the economic growth effect of financed pension system.It considers that the financed pension system would affect people＇s saving behavior by changing their budget constraints,and it would have impact on the economic growth through the capital.The analysis of economic growth golden rule found that both single pay-you-go scheme and single fully funded plan,the savings rate have no impact on economic growth.This result is hoping to guide the design of the pension system in China.