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Social Security financing: equity and sustainability issues

Author

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  • Teodora Cardoso

Abstract

This occasional paper is the result of Teodora Cardoso's participation in the conference "The Public Capitalization of Portuguese Social Security: Position and Perspectives", organized by IDEFF at the Faculty of Law of Lisbon, on 19 October 2018. Over the decades, public finance management in Portugal has been focused on defining annually the level of public expenditure and the amount of revenue needed to finance it, including the level of taxes and the use of credit. The State financed like this extended its powers and took responsibility for granting of an important set of rights. The rights to social protection and universal access to health care have assumed an increasing weight in the allocation of public expenditures and, consequently, in the amount of revenues that they absorb in each year. More importantly, the guarantee of these rights is characterized by a dynamic of its own, different - sometimes even opposite to - the cyclical evolution of the economy, which, to a large extent, depends on the level of revenues that the State collects each year.

Suggested Citation

  • Teodora Cardoso, 2019. "Social Security financing: equity and sustainability issues," CFP Occasional Papers 01/2019, Portuguese Public Finance Council.
    • Handle: RePEc:alf:opaper:2019-01
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    References listed on IDEAS

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    1. Ms. Valerie Cerra & Ms. Sweta Chaman Saxena, 2017. "Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and its Policy Implications," IMF Working Papers 2017/250, International Monetary Fund.
    2. Tanzi,Vito, 2011. "Government versus Markets," Cambridge Books, Cambridge University Press, number 9781107096530.
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