反抵押贷款在中国实行局限性的分析.docVIP

反抵押贷款在中国实行的局限性分析 【bstract: 21st century is the century of the ageing of the world .all countries are faced with the problem of the ageing of the population, On one hand, the development of the ageing reducing the workforce, reduced the social labor supply, on the other hand, the direct influence of the ageing of the elder is the increased number of old people,with social burden increasing.In the western word, the implementation of reverse mortgage has opened up new avenues pension for the elderly .So far, some countries, mainly the United States, have adopted the practice of reverse mortgage loans to solve a lot of elderly pension issues. Chinas aging problem is quite sereve, at present the proportion of Chinas elderly population has reached 11 percents. It is estimated in the year of 2015, the population aged over 60 will be over 200 million, accounting for about 14% of the total population. The status and trends the ageing of are Optimistic, while Chinas current development of the social security system is imperfect, with narrow the scope of radiation. Some scholars have suggested the application of reverse mortgage loans Keywords: reverse mortgage the price about reverse mortgage the risk life insurance companies 一、国外研究情况 在美国、加拿大、新加坡、日本等国家，反向抵押贷款的实施较为成功，其中美国是最早大规模实行也是实行最成功的国家。美国对反向抵押贷款的研究从20世纪70年代就己经开始。1987年美国国会根据《住房法案(the housing Act)》推出房产转换抵押贷款(Home Equity Conversion Mortgage)示范项目以后，对于反向抵押贷款的研究逐步深入，有关的理论也逐渐成熟。 （一）美国学者对于反向抵押贷款的研究主要集中在以下几个方面 1.对反向抵押贷款市场规模及社会效应的研究 美国学者对美国反向抵押贷款的市场规模的研究主要是估计通过申请反向抵押贷款能够获益的老年人口规模及其获益程度。不同的学者使用不同的调查数据得出了不同的结论。最早对反向抵押贷款市场规模进行认真研究的是Venti和Wise(1990)，他们使用了收入与活动参与调查(the Survey of Incomeand Program Participation, SIPP)的数据，用精算模型估计贫困老年人通过反向抵押贷款可以平均增加10%的年收入；Mayer和Simons(1994)估计有1,400,000的老年人通过使用一种模拟的反向抵押贷款产品能够把收入提高到贫困线以上。截至2003年9月，美国实际发放的反向抵押贷款共有86,000笔，经过将近20年的发展，美国反向抵押贷款市场规模仍然大大低于上述学者的估计。Venti和Wise(1990)等学者对于反向抵押贷款发展缓慢的原因进行研究，认为老人不愿意利用在房产上的储蓄来增加当前消费的可能原因包括遗产动机、寿命的不确定性、健康状况和医疗支出以及保险和反向抵押贷款市场的不完善。 2.把反向抵押贷款作为一种金融创新来研究 这些学者