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KMID : 1001320170440040155
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Social Welfare Policy
2017 Volume.44 No. 4 p.155 ~ p.179
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Is the Japan’s Policy of Investing Public Pension Reserves on Social Infrastructure a Failed Policy?
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Kim Yeon-Myung
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Abstract
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Japan’s so called ‘failed experiences’ of allocating public pension fund for expanding social infrastructures has become an important basis for damaging the legitimacy of the proposal that Korea’s public pension fund should invest in expanding social infrastructures. This paper reevaluates the argument that public pension fund investment policy of Japan is a failed policy. Although there was some financial problems in building recreation facilities, Japanese public investment using public pension funds contributed considerably to providing housing and public health and welfare facilities for the 1980s and 1990s.
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KEYWORD
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Public Pension of Japan, National Pension Reserves, Pension Fund, Public Investment
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