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The Limits of Pension Privatization: Lessons from Argentine Experience

  • Arza, Camila

Summary The paper studies the operation of the mixed pension system established in Argentina in 1994. It points to the limitations that the new system has encountered to achieve some of the most important objectives of pension policy and pension reform. The analysis looks at the mechanisms affecting pension system performance, with particular attention to the way in which the new pension rules have interacted with the local macroeconomic, social, and political context. The empirical analysis of this experience is oriented to provide lessons for Argentina's future reforms, as well as for many Latin American countries with similar pension arrangements.

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File URL: http://www.sciencedirect.com/science/article/B6VC6-4SXRYH2-1/2/1e57f1620b70181ff04c4940f52c6e4b
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Article provided by Elsevier in its journal World Development.

Volume (Year): 36 (2008)
Issue (Month): 12 (December)
Pages: 2696-2712

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Handle: RePEc:eee:wdevel:v:36:y:2008:i:12:p:2696-2712
Contact details of provider: Web page: http://www.elsevier.com/locate/worlddev

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  1. Nicholas Barr, 2002. "Reforming pensions : myths, truths, and policy choices," LSE Research Online Documents on Economics 286, London School of Economics and Political Science, LSE Library.
  2. John Genakoplos & Olivia S. Mitchell & Stephen P. Zeldes, 2000. "Would a Privatized Social Security System Really Pay a Higher Rate of Return," NBER Working Papers 6713, National Bureau of Economic Research, Inc.
  3. Olivia S. Mitchell & Stephen P. Zeldes, 1996. "Social Security Privatization: A Structure for Analysis," NBER Working Papers 5512, National Bureau of Economic Research, Inc.
  4. Martin Feldstein & Jeffrey B Liebman, 2002. "The Distributional Effects of an Investment-Based Social Security System," Working Papers 02-08, Center for Economic Studies, U.S. Census Bureau.
  5. Nicholas Barr & Peter Diamond, 2006. "The economics of pensions," LSE Research Online Documents on Economics 2630, London School of Economics and Political Science, LSE Library.
  6. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467.
  7. Martin Feldstein, 1996. "The Missing Piece in Policy Analysis: Social Security Reform," NBER Working Papers 5413, National Bureau of Economic Research, Inc.
  8. James, Estelle, 1996. "Protecting the old and promoting growth : a defense of averting the old age crisis," Policy Research Working Paper Series 1570, The World Bank.
  9. Arza, Camila, 2006. "Distributional Impacts of Pension Policy in Argentina," The Journal of Economic History, Cambridge University Press, vol. 66(02), pages 467-472, June.
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