CAJ | 학술논문

人口老龄化在给实体经济带来消极影响的同时也带来积极影响。受人口老龄化的影响，各国不得不改革养老金制度，从现收现付向基金积累制转变。这种转变给资本市场提供了大量长期资金，促进了资本市场的完善，进而为实体经济的发展提供了有利条件。从目前来看，我国进入资本市场的养老基金有限，对金融市场的影响也有限，但随着人口老龄化的不断加剧，整个社会自我保障意识的不断增强，进入资本市场的养老基金持续增加，我国金融市场将会不断完善，从而有利于实体经济的快速发展。
인구노령화재급실체경제대래소겁영향적동시야대래적겁영향。수인구노령화적영향，각국불득불개혁양로금제도，종현수현부향기금적루제전변。저충전변급자본시장제공료대량장기자금，촉진료자본시장적완선，진이위실체경제적발전제공료유리조건。종목전래간，아국진입자본시장적양로기금유한，대금융시장적영향야유한，단수착인구노령화적불단가극，정개사회자아보장의식적불단증강，진입자본시장적양로기금지속증가，아국금융시장장회불단완선，종이유리우실체경제적쾌속발전。
Aging of the population have a negative impact on the real economy,but also have a positive impact.Affected by the impact of an aging population,various countries have to reform the pension system,from PAYG change to fund accumulation system.This shift provides a lot of long-term funding for the capital markets,promotes the improvement of capital markets and provides favorable conditions further development for the real economy have.From the current point of view,our country pension funds access to capital markets is limited,but with the growing aging population,the whole society as a growing aware-ness of self-protection,China’s financial markets will continue to improve,thus facilitating the rapid development of the real economy.