Pension Liabilities and Public Financies in Bolivia: Evidence from a Reformer Country

Jaime A. Garrón Bozo
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Jaime A. Garrón Bozo: Central bank of Bolivia

Revista Latinoamericana de Desarrollo Economico, 2007, issue 9, 45-80

Abstract: In 1996 Bolivia undertook a radical pension reform, switching from an unfunded to a fully funded privately managed system. This paper analyzes the impact of the pension reform and post-reform pension policies (1997-2003) on public finances; it shows initial estimates for the transition cost, analyzes the main factors that increased the financial burden for the Treasury to unexpected levels, presents some public accounting considerations, and examines post-reform linkages between the Treasury and the new pension system. It concludes that the effect of the pension reform and post-reform pension policies on public finances has been two-fold: increasing considerably pension net liabilities, and inducing a higher fiscal deficit for the explicit report of the pension debt.

Keywords: Pension; Bolivia; Reformer (search for similar items in EconPapers)
JEL-codes: Z00 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ris:revlde:0902

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