Budgetary Impact of Social Security Privatization: Women Doubly Unprotected

Eugenia Correa ()

International Journal of Political Economy, 2015, vol. 44, issue 4, 260-276

Abstract: In several developing economies during the 1990s there was a fundamental financial reform of pension systems. This article analyzes the main results of these reforms through a gender approach. Seen as a social reform, pension reforms have maintained a growing uninsured population, with women experiencing relatively greater workplace precariousness and, at the same time, longer lives. The article also centers on fiscal implications, and particularly the transition from a pure public pay-as-you-go pension system that was self-funded and sustainable, to a system in which contributions went to private pension funds, creating a funding gap, which is being filled by the public budget in several current pension schemes. As a financial reform, it has also had several interesting results. Although the private system did not increase coverage and the projected flows, it did produce a constant flow of mandatory and accumulated savings that provide liquidity to domestic financial markets and even external markets. However, this liquidity has not been a factor in increasing the flows of credit to the nonfinancial domestic private sector. Under the conditions of austerity policies, budget cuts in other components of social spending, such as education and especially health care, leave women doubly unprotected.

Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/08911916.2015.1129839 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:ijpoec:v:44:y:2015:i:4:p:260-276

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MIJP20

DOI: 10.1080/08911916.2015.1129839

Access Statistics for this article

More articles in International Journal of Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().