Since the mid-1990s, China has adopted a partially funded pension scheme in building itssocial security system. However, after nearly 10 years of operations, people found that theserious moral hazard problem of contri...Since the mid-1990s, China has adopted a partially funded pension scheme in building itssocial security system. However, after nearly 10 years of operations, people found that theserious moral hazard problem of contribution defaults and loss of control concerningpension payment stemmed from this partially funded pension scheme. This institutionalarrangement has also resulted in the so-called adverse selection in non-market institutions,which in turn is capable of destroying the current system.This article argues for the introduction of the Notional Defined Contribution (NDC)scheme, because it can solve the problem of moral hazard and adverse selection. Moreover,it can solve the problem of a lack of institutional conditions for the entry of the social securityfund into the stock market. It is important to note that the NDC scheme fully conforms to theinitial intention of the policy-makers who designed the partially funded pension scheme inmid-1990s.展开更多
Under the Paris Agreement framework, many developing countries call for low-carbon technology transfers from developed countries as a critical element in the global partnership for carbon emissions abatement. Such a p...Under the Paris Agreement framework, many developing countries call for low-carbon technology transfers from developed countries as a critical element in the global partnership for carbon emissions abatement. Such a partnership may be disrupted as the U.S. walks away from the agreement. Based on CIECIA-TD model, this paper examines effects of the U.S. exit on global low-carbon technology transfers under various scenarios and simulates the effects on low-carbon technology transfer, climate change, countries' emissions abatement results, and economic development. Our findings suggest that lowcarbon technology has significant emissions abatement and temperature rise mitigation effects. Low-carbon technology transfer among developed countries offers huge emissions abatement potentials, but patent protection system presents a significant barrier to further carbon emissions abatement. In this sense, the U.S. exit from the Paris Agreement will significantly impede developed countries' carbon emissions abatement through technology transfer. With limited knowhow, R&D and learning capacity, developing countries will suffer more to cut carbon emissions under the chain effects of a more challenging technology sharing environment that may result from the U.S. exit from the Paris Agreement. As a gradualist emissions abatement approach, low-carbon technology transfer cannot reduce emissions substantially within a short time, but its climate welfare is conducive to global economic growth and of great significance to carbon governance.展开更多
文摘Since the mid-1990s, China has adopted a partially funded pension scheme in building itssocial security system. However, after nearly 10 years of operations, people found that theserious moral hazard problem of contribution defaults and loss of control concerningpension payment stemmed from this partially funded pension scheme. This institutionalarrangement has also resulted in the so-called adverse selection in non-market institutions,which in turn is capable of destroying the current system.This article argues for the introduction of the Notional Defined Contribution (NDC)scheme, because it can solve the problem of moral hazard and adverse selection. Moreover,it can solve the problem of a lack of institutional conditions for the entry of the social securityfund into the stock market. It is important to note that the NDC scheme fully conforms to theinitial intention of the policy-makers who designed the partially funded pension scheme inmid-1990s.
基金supported by the National Natural Science Foundation of China (NSFC) Study on Regional Carbon Governance for China’s Response to Climate Change under the Effect of Global Economic Integration, Project Code: 41501130
文摘Under the Paris Agreement framework, many developing countries call for low-carbon technology transfers from developed countries as a critical element in the global partnership for carbon emissions abatement. Such a partnership may be disrupted as the U.S. walks away from the agreement. Based on CIECIA-TD model, this paper examines effects of the U.S. exit on global low-carbon technology transfers under various scenarios and simulates the effects on low-carbon technology transfer, climate change, countries' emissions abatement results, and economic development. Our findings suggest that lowcarbon technology has significant emissions abatement and temperature rise mitigation effects. Low-carbon technology transfer among developed countries offers huge emissions abatement potentials, but patent protection system presents a significant barrier to further carbon emissions abatement. In this sense, the U.S. exit from the Paris Agreement will significantly impede developed countries' carbon emissions abatement through technology transfer. With limited knowhow, R&D and learning capacity, developing countries will suffer more to cut carbon emissions under the chain effects of a more challenging technology sharing environment that may result from the U.S. exit from the Paris Agreement. As a gradualist emissions abatement approach, low-carbon technology transfer cannot reduce emissions substantially within a short time, but its climate welfare is conducive to global economic growth and of great significance to carbon governance.
