Social risk management and the World Bank: resetting the ‘standards’ for social security?

Roddy Mckinnon

Journal of Risk Research, 2004, vol. 7, issue 3, 297-314

Abstract: Global ‘standards’ in social security are set by the UN Specialist Agency, the International Labour Organization (ILO). The ILO ‘Standards’ prioritize one model of social security system in particular; namely, contributions-financed social insurance. Specifically, social insurance systems are designed to mitigate the negative impacts of formal labour market risks. Accordingly, social security systems typically fail to address adequately many informal labour market and nonlabour market risks. The inherently limited focus of social protection provided by many social security systems is recognized to be of major concern for least developed countries (LDCs) in particular for whom western-centric definitions of life-cycle risk remain largely inappropriate for the majority. This realization has led the World Bank to experiment with a reconceptualized definition of social protection; Social Risk Management (SRM). Seeking to encourage wider debate across the multidisciplinary field of risk management research, this article outlines critically the tenets underpinning SRM and highlights the policy limitations of this innovative World Bank venture in two key respects. First, by outlining the likely policy implications of World Bank approaches to social protection for global social security standards and practice. Second, by questioning the short-term contribution that SRM can make to poverty reduction, not least amongst the elderly poor.

Date: 2004
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/1366987042000176244 (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:taf:jriskr:v:7:y:2004:i:3:p:297-314

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RJRR20

DOI: 10.1080/1366987042000176244

Access Statistics for this article

Journal of Risk Research is currently edited by Bryan MacGregor

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