Structural Pension Reform: The Chilean Experience

Mehdi Ben Braham

No 2007-WP-20, NFI Working Papers from Indiana State University, Scott College of Business, Networks Financial Institute

Abstract: Chile was the first country to introduce structural pension reform based upon a funded pillar. Implemented in 1981, Chilean pension reform inspired many other Latin American countries. During the nineties, an important literature analysed the positive and negative aspects of pension funds in Chile. This paper is organised as follows: the first section analyzes the macroeconomic implications of the pension fund introduction. I then present the Chilean pension system and its performances with respect to significant indicators in order to see whether Chile achieved the macroeconomic objectives of the reform. In the third section, I analyze the potential risks and difficulties of pension fund introduction, classifying them through their endogenous or exogenous character.

Keywords: Financial markets and macroeconomy; pension funds; Social Security; Chile (search for similar items in EconPapers)
JEL-codes: E44 G23 H55 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2007-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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