Study On Dynamic Mechanism Of Multi-Tier Pension Reform

The nations of world invariably established social security system after entering the era of industrialization. The purpose is to ease labor conflicts and promote social stability. Meanwhile, the system promoted economic development in turn, laid a solid social foundation of economic recovery high-speed development especially after the Second World War. Because of the various national conditions, there is a big difference between the goal of establishing endowment insurance system. At the same time, the concrete design of the system also has this phenomenon. Western countries such as Sweden pay more attention to the "fair", so the endowment insurance of these countries featuring high taxes and generous welfare. On the other side, the United States, the world's leading developed country, obviously pay more attention to the effect of the system to promote economy "efficiency". Unfortunately, with the coming of the 1970s "oil crisis", the economic growth rate of all countries begun to stagnate. Because all governments around the world carried on the policy of active fiscal deficits under the influence of Keynesian before, the expansionary fiscal policy adjusting the economic regulation is also difficult to achieve the ideal result. The endowment insurance system has been block economic growth. In order to deal with pension payment crisis, governments began to carry out reform on their pension system in order.The pension reform of Western countries appears convergence at a considerable degree in this period. That is to say, pension system is becoming more levels in order to redefine the financial responsibility of the government, enterprises, individuals and nonprofit organizations in the pension system. At the same time, due to the interaction of different reforming dynamic mechanisms, every country carry out not all same reforming measures according to their own specific conditions.In China, building more level pension reform started from the 90's. Although there are many difficulties in this duration, achievements are obvious. Now our system mainly construct of three-tier:old age insurance combined with social and individual account; enterprise supplementary pensions and personal saving insurance. Frankly speaking, this system has some following problems:firstly, there are huge expected financial crisis in the first level because of design problems; secondly, the second and third level pension mode don't develop sufficiently and not been made full use of; It is difficult to deal with the aging of the population leading to the rise of hidden debt.The first purpose of this paper is to study the interaction between different mechanisms in hierarchical insurance reform, analyze the interaction and ultimately combined effects to pension reform. Therefore, the second purpose of this article is to analyze the multi-tier pension system reform of other countries and China. At a result, find the similarities in the dynamic mechanism and get the worthy measures to solve difficulties in our reform.This paper includes eight chapters.The first chapter mainly introduces the purpose and significance of this research, make clear the relevant literature reviews in divided, concludes the theory of the more levels pension system mode from different structure, summarizes scholars'idea about the reason why introduce more level pension insurance system, and briefly introduces the motivation of reform in some countries included China. Finally, make comments about the above content and introduce research content, research methods, the innovation and deficiencies.The second chapter introduces the social and economic background of the pension insurance reform in the world and analyzes the shock of the economic globalization and aging of population to the system whose financial mechanism is pay as you go. At the same time, related theories are also introduced in this sector, including theoretical definition, institutional structure, objectives of the reform and the subject of responsibility positioning.According to the research purpose, Sweden, Germany, the United States, South Korea as the object of study are chosen from the third chapter to the sixth chapter selects. Mainly using historical analysis and comparative analysis methods to research the social background, the basic institutional framework, dynamic mechanism and the specific reform measures of these countries, especially focus on the dynamic mechanism of different countries to promote pension reform and the interaction between them.Chapter seven analyzes the similarities and difference of the motivation mechanism of pension insurance reform are summarized through the analysis of the third to sixth chapter. By analyzing the dynamic convergence mechanisms clearly the necessity to promote multi-level old-age insurance reform, by analyzing the differences in dynamic mechanism explores the reasons for the four countries in a multi-level old-age insurance reform in the path of reform and specific measures to render differentiationChapter eight reviews the develop history of China endowment insurance system and explores the dynamic mechanism which promote this reform. According to the different situations of four countries, find the similar dynamic mechanism with China, and put forward related recommendations about the different levels of the pension system, reforming objectives and measures.Innovation of this paper lies in:unlike most previous research, this paper involves the dynamic mechanism of several typical countries multi-tier pension system reform through a lot of statistics made a detailed comparative institutional analysis, summarizes the convergence and differences of dynamic mechanism of current four countries to the mutiple level endowment insurance reform. Though the convergence mechanism, it analyzes the necessity of typical countries to promote mutiple level endowment insurance reform. Though the differences of dynamic mechanism, it analyzes the differentiation of influence of specific paths and measures. I believe our country will have some reference place about the reform path design of multi-tier pension system.