system, financial markets and the broader economy. The tendency of market participants to behave in a procyclical manner has been amplified through a variety of channels, including through accounting standards for both mark-to-market assets and held-to-maturity loans, margining practices, and through the build up and release of leverage among financial institutions, firms, and consumers. The Base
“Characteristics”
1)Limited Private Property
-State-owned enterprises
2)Non-Price Mechanism
-Distribution system
3)Planning by Government
-Command system
“The reasons of
Chinese economic reform”
Distortion in Industrial structure and inefficiency
Failure of “The Great Leap Forward” (58~60)
Failure of “The Great Proletarian Cultural Revolution” (66
In Chile, each person get their individual account, so they'll get back pension from this account that they submitted.
This account have no income redistribution among inter-layers and no income transfer between generations that exist in Korean pension system.
Each AFP set minimum rate of return and make a safety device for net getting enough rate of return.
For treating enormous asset,
Ⅲ. Characteristics of New Pension System in Chile
1. Individual Capitalization Accounts (ICA)
In Chile, they have pension system that subscribers pay back from their individual accounts after retirement. Therefore this account have no income redistribution among inter-layers and no income transfer between generations that exist in korean pension system. ICA's contributions are not inc
IV. Administrative Systems in North Korea
At first, North Korea established a ‘people’s republic constitution’ in 1948. In December 1972, they adopted a ‘socialist constitution’ at the first session of the fifth Supreme People's Assembly. In April 1992, they reformed it(old socialist constitution) at the third session of the ninth Supreme People's Assembly. In 1998, they drastically a