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Extending coverage in multi-pillar pension systems : constraints and hypotheses, preliminary evidence and future research agenda

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  • Holzmann, Robert
  • Packard, Truman
  • Cuesta, Jose

Abstract

This report provides a set of preliminary hypotheses and exploratory econometric testing to explain low rates of participation in reformed social security systems, with special emphasis on two Latin American countries. The hypotheses claim that the working poor and self-employed continue to have a specific and strong rationale for avoiding participation in the multi-pillar pension ysstem and that transaction costs, system design issues, and problems of credibility negatively influence the decision of all members of the labor force to participate. Some of the established hypotheses have been subjected to exploratory econometric testing using available household survey data for Chile and Argentina. The results support the conjecture that socioeconometric characteristics matter for non-participation, and that the poor, the uneducated, and the self-employed pose a special challenge to the extension of pensions coverage. The paper outlines a research strategy, including a more social security-focused survey and comparative analyses, to confirm the results presented in this paper, and to test those hypotheses related to the different pension institutions reforming governments have chosen to put in place. Work in this vein has already begun.

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Bibliographic Info

Paper provided by The World Bank in its series Social Protection Discussion Papers with number 21303.

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Date of creation: 31 Jan 2000
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Handle: RePEc:wbk:hdnspu:21303

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Related research

Keywords: Environmental Economics&Policies; Banks&Banking Reform; Insurance&Risk Mitigation; Pensions&Retirement Systems; Economic Theory&Research;

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Cited by:
  1. Abigail Barr, 2004. "Risk Pooling, Commitment, and Information: An experimental test of two fundamental assumptions," Development and Comp Systems 0409030, EconWPA.
  2. Marisa Bucheli & Alvaro Forteza & Ianina Rossi, 2007. "Work history and the access to contributory pensions. The case of Uruguay," Documentos de Trabajo (working papers) 1607, Department of Economics - dECON.
  3. (No last name available), Himanshu, 2013. "Poverty and Food Security in India," ADB Economics Working Paper Series 369, Asian Development Bank.
  4. Alberto Arenas de Mesa & David Bravo & Jere R. Behrman & Olivia S. Mitchell & Petra E. Todd, 2006. "The Chilean Pension Reform Turns 25: Lessons From the Social Protection Survey," NBER Working Papers 12401, National Bureau of Economic Research, Inc.
  5. Larry Willmore, 2004. "Universal Pensions in Low Income Countries," Public Economics 0412002, EconWPA.
  6. Abigail Barr & Truman G. Packard, 2005. "Seeking solutions to Vulnerability in Old Age: Preferences, constraints, and alternatives for coverage under Peru’s pension system," CSAE Working Paper Series 2005-05, Centre for the Study of African Economies, University of Oxford.
  7. Giles, John & Wang, Dewen & Park, Albert, 2013. "Expanding social insurance coverage in urban China," Policy Research Working Paper Series 6497, The World Bank.
  8. Doling, John & Vandenberg, Paul & Tolentino, Jade, 2013. "Housing and Housing Finance—A Review of the Links to Economic Development and Poverty Reduction," ADB Economics Working Paper Series 362, Asian Development Bank.
  9. World Bank, 2005. "Household Risk Management and Social Protection in Chile," World Bank Publications, The World Bank, number 14839, October.
  10. Packard, Truman G., 2001. "Is there a positive incentive effect from privatizing social security : evidence from Latin America," Policy Research Working Paper Series 2719, The World Bank.
  11. Carmen Li & Javier Olivera, 2005. "Participation in the Peruvian reformed pension system," Economics Discussion Papers 592, University of Essex, Department of Economics.
  12. Debuque-Gonzales, Margarita, 2013. "Empirical Determinants and Patterns of Research and Development Investment in Asia," ADB Economics Working Paper Series 364, Asian Development Bank.
  13. World Bank, 2001. "Risk Management in South Asia : A Poverty Focused Approach," World Bank Other Operational Studies 15449, The World Bank.
  14. Abigail Barr & Garance Genicot, 2007. "Risk Sharing, Commitment and Information: An experimental analysis," Economics Series Working Papers WPS/2007-17, University of Oxford, Department of Economics.
  15. Whitehouse, Edward, 2000. "How poor are the old? a survey of evidence from 44 countries," Social Protection Discussion Papers 23141, The World Bank.

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