Advanced Search
MyIDEAS: Login

The Financial Crisis: New or Old Boundaries between Market and Welfare State?

Contents:

Author Info

  • Cavazzuti Filippo
Registered author(s):

    Abstract

    Crisis is hitting most severely the financial markets of common-law countries (like US and UK) than the markets of civil-law countries (like Italy and other countries in continental Europe). We argue that one reason of the deepening turmoil in the civil law countries is the supremacy in these countries of private welfare institutions (pension funds, mutual funds, insurances) based on the functioning of capital markets instead of - like in many civil law countries - the supremacy of the social welfare state financed by the public budget. In order to protect better in the future the human capital of families against several and lasting risks and uncertainties arising from the turmoil, not manageable by capital markets, we suggest the adoption, preservation and the improvement of the pay as you go system.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.rivisteweb.it/download/article/10.1429/29331
    Download Restriction: no

    File URL: http://www.rivisteweb.it/doi/10.1429/29331
    Download Restriction: no

    Bibliographic Info

    Article provided by Società editrice il Mulino in its journal Politica economica.

    Volume (Year): (2009)
    Issue (Month): 1 ()
    Pages: 5-30

    as in new window
    Handle: RePEc:mul:je8794:doi:10.1429/29331:y:2009:i:1:p:5-30

    Contact details of provider:

    Related research

    Keywords: risks; uncertainties; common and civil law; legal origin; crisis and financial market; welfare state; private welfare institutions;

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:mul:je8794:doi:10.1429/29331:y:2009:i:1:p:5-30. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.