我国社会保障基金投资的风险管理前瞻——基于克鲁格曼三角理论分析

Risk Management Countermeasures of National Social Security Fund Investment ——Based on Krugman Triangle Theory

中国已步入"未富先老"的国家行列,老龄化将使社保基金面对更为严峻的支付挑战。因此,实现社保基金保值增值,防控社保基金的投资风险显得尤为紧迫。社保基金投资原则主要是安全性、流动性、收益性,而这"三性"之间存在着不可避免的投资难题。运用克鲁格曼三角形理论对基金投资进行风险分析,在借鉴发达国家先进经验的基础上,提出具体的化解路径为优化投资结构、强化投资监管、完善风险补偿机制等。

The trend of being an aging society forces China＇s social security system to face severe payment challenges.Therefore,in order to achieve the goal of value increment,it is urgent for China to control the investment risk of social security fund.The principles of social security fund investing are： safety,liquidity,profitability.But there are inevitable contradictions among the ＂three characteristics＂.Based on Krugman Triangle Theory,we can analyze risks of social security fund＇s investment.On the basis of drawing the developed countries＇ advanced experience,we must optimize the investment structure,strengthen investment supervision,complete the compensatory mechanisms and etc.