Summary |
The experience of privatization of social security has been predominantly in the Latin American region. Eight countries have undertaken either full or partial privatization of pension: Argentina, Bolivia, Chile, Colombia, EI Salvador, Mexico, Peru, and Uruguay. What did the policymakers expect? Were expectations realized? Can we learn anything from the collective experience of these countries? Can they be applied to other countries that are aspiring to privatize? How did the World Bank and other international institutions affect these policies? Pension reform in Latin America and its lessons for international policymakers analyzes in detail these important questions.
It begins with a detailed account of economic conditions of Latin America. It then discusses various models that policymakers rely on. Starting with a purely demographic model, it lays out advanced models of overlapping generations of Samuelsson. The book gives extensive details of privatized pension in each of the eight reforming countries. Two chapters are devoted to analyzing the reform in each country. Finally, detailed lessons are drawn that will help shape the debate for policymakers in order countries.
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