Philippe Michel (GREQAM, Université de la Méditerrannée and EUREQUA, Université de Paris I) Oliver Paddison (United Nations Economic Commission for Africa (UNECA)) Pierre Pestieau (CREPP, Université de Liège, CORE, CEPR and Delta. CORE, University of Louvain, Belgium)
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In a number of developing countries, an important part of the economy is informal both in terms of production and of social protection. In this paper we consider introducing a universal pension system in the formal sector. It is shown to have two main effects: first, it makes the formal sector more attractive to migration and second, it affects capital accumulation in a way that depends on the type of social security introduced, PAYG or funded, and its induced effect on private saving.
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Find related papers by JEL classification: H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions J61 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Geographic Labor Mobility; Immigrant Workers
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