Chile: Social Security, Privatization and Economic Growth

Silvia Borzutzky

Chapter 4 in Social Security, the Economy and Development, 2008, pp 110-136 from Palgrave Macmillan

Abstract: Abstract The purpose of this chapter is to link Chile’s complex social security history with the economic development of the country. It examines the way social security has evolved over the years and pays particular attention to the well-documented privatization of the social insurance system and the way privatization affected economic development. Contrary to the claims of the supporters of private retirement accounts, it shows that the relationship between privatization and economic development has been problematic. It discusses current attempts to create a combined private-public system under President Bachelet and concludes with an analysis of the country’s current economic policies and their impact on inequality, which is a major challenge facing the country.

Keywords: Gross Domestic Product; Social Security; Pension System; Social Security System; Social Security Benefit (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-58219-4_5

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DOI: 10.1057/9780230582194_5

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