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| China’s Social Security Programs Based on Endogenous Economic Growth Model |
| YANG Ji-guang1,LIU Hai-long1,XU You-chuan2 |
（1.Antai College of Economics & Management, Shanghai Jiaotong University, Shanghai 200052,China;
2.Institute for Financial Studies, Fudan University, Shanghai 200433, China） |
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Abstract A threeperiod dynamic endogenous growth model combining the social security programs of China was set up in the framework of general equilibrium, which simulated the economic growth paths of China from 2000 to 2060 with some given parameters. It was found that the aging population has different influences on capital accumulation and educational expenditures. The educational expenditures in the fully funded social security are more than those in the payasyougo, while the physical capitals in the fully funded are less than those in the payasyougo. The economic growth rates in the fully funded are firstly higher than the payasyougo, while lower later.
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Received: 30 November 2007
Published: 28 November 2008
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Corresponding Authors:
LIU Hai-long
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