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Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy

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Author Info
Miguel Braun (CIPPEC)
Luciano di Gresia (Universidad Nacional de La Plata)

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Abstract

Latin America is a volatile, crisis-prone region, with limited and inadequate social insurance. Therefore, the long-term as well as the recent poor suffer significantly during crises. Furthermore, social spending is procyclical in the region, but less so than total spending, indicating that the effectiveness of compensatory social policies designed to protect those vulnerable to crises is constrained by adjustments during recessions. The causes of procyclical fiscal policy lie in the political constraints on saving during expansions, combined with limited creditworthiness during recessions, and enhanced by economic volatility and a low share of automatic stabilizers in the budget.

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Paper provided by EconWPA in its series Public Economics with number 0410001.

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Length: 62 pages
Date of creation: 05 Oct 2004
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Handle: RePEc:wpa:wuwppe:0410001

Note: Type of Document - pdf; pages: 62
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D6 - Microeconomics - - Welfare Economics
D7 - Microeconomics - - Analysis of Collective Decision-Making
H - Public Economics

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Persson, Torsten & Tabellini, Guido, 1999. "The Size and Scope of Government: Comparative Politics With Rational Politicians," CEPR Discussion Papers 2051, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  2. Andres Velasco, 1999. "A Model of Endogenous Fiscal Deficits and Delayed Fiscal Reforms," NBER Chapters, in: Fiscal Institutions and Fiscal Performance, pages 37-58 National Bureau of Economic Research, Inc. [Downloadable!]
  3. Torsten Persson & Gerard Roland & Guido Tabellini, 2000. "Comparative Politics and Public Finance," Journal of Political Economy, University of Chicago Press, vol. 108(6), pages 1121-1161, December. [Downloadable!] (restricted)
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  4. James E. Alt & David Dreyer Lassen & David Skilling, 2001. "Fiscal Transparency, Gubernatorial Popularity, and the Scale of Government: Evidence from the States," EPRU Working Paper Series 01-16, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics. [Downloadable!]
  5. Juan Pablo Nicolini & Josefina Posadas & Juan Sanguinetti & Pablo Sanguinetti & Mariano Tommasi, 2002. "Decentralization, Fiscal Discipline in Sub-National Governments and the Bailout Problem: The Case of Argentina," RES Working Papers 3160, Inter-American Development Bank, Research Department. [Downloadable!]
  6. Juan José Echavarría Soto & Carolina Rentería & Roberto Ricardo Steiner Sampedro, 2002. "Decentralization and Bailouts in Colombia," INFORMES DE INVESTIGACIÓN 002252, FEDESARROLLO.
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  7. Perotti, Roberto & Strauch, Rolf & von Hagen, Jürgen, 1997. "Sustainability of Public Finances," CEPR Discussion Papers 1781, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  8. Raphael Bergoeing & Raimundo Soto, 2002. "Testing Real Business Cycle Models in an Emerging Economy," Documentos de Trabajo 126, Centro de Economía Aplicada, Universidad de Chile. [Downloadable!]
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  9. Dani Rodrik, 1998. "Why Do More Open Economies Have Bigger Governments?," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 997-1032, October. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlos Scartascini & Mariano Tommasi & Ernesto H. Stein, 2008. "Veto Players, Intertemporal Interactions and Policy Adaptability: How Do Political Institutions Work?," RES Working Papers 4593, Inter-American Development Bank, Research Department. [Downloadable!]
  2. Carlos Scartascini & Mariano Tommasi & Ernesto H. Stein, 2008. "Un Enfoque Intertemporal Interactions and Policy Adaptability: How Do Political Institutions Work?," RES Working Papers 4594, Inter-American Development Bank, Research Department. [Downloadable!]
  3. Leonardo Gasparini, 2003. "Argentina´s Distributional Failure: The role of Integration and Public Policies," Working Papers 0001, CEDLAS, Universidad Nacional de La Plata. [Downloadable!]
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