Intergenerational Transfers and Growth

Giancarlo Marini and Pasquale Scaramozzino

Chapter 3 in Finance, Research, Education and Growth, 2003, pp 38-48 from Palgrave Macmillan

Abstract: Abstract The future of the welfare state is under threat. There is a growing consensus that current systems cannot survive, not only because of their heavy pressure on public finances but also for motives of disincentive. In particular, the alleged adverse effects on private saving are thought to undermine seriously efficiency and growth. Special attention has been paid in recent years to reforming ‘unsustainable’ social security schemes. The conventional view is that social security is harmful to growth, although it may have some merits in enhancing equity.

Keywords: Social Security; Capital Stock; Capital Accumulation; Endogenous Growth; Saving Rate (search for similar items in EconPapers)
Date: 2003
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Working Paper: Intergenerational Transfers and Growth (1997)
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DOI: 10.1057/9781403920232_3

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