Privatization and Pension Reform in Transition Economies
Given the beleaguered state of public social security systems in the former socialist countries of Eastern Europe, especially their massive and growing pension liabilities, some form of funded private pension scheme should be considered. Nominally high payroll taxes which cannot be collected under weak revenue systems jeopardize any publicly-funded safety net pensioners. On the other hand, if these taxes are collected, they may raise wage costs to a level which discourages the growth of the private sector. Some portion of the assets of state enterprises to be privatized should be used to partially offset state’ pension liabilities. Professionally-managed private pension plans, initially funded by newly privatized assets, could assist in the transition to market economies by contributing to the development of capital markets in these countries. Furthermore, linking the process of privatization with the creation and funding of private pension funds would create dispersed private ownership, and substantially alleviate the problem of selling or distributing hard-to-value-state assets.
(This abstract was borrowed from another version of this item.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 47 (1992)
Issue (Month): Supplement ()
|Contact details of provider:|
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.:
- Diwan, Ishac & Saldanha, Fernando, 1991. "Long term prospects in Eastern Europe : the role of external finance in an era of change," Policy Research Working Paper Series 695, The World Bank.
- G. A. Mackenzie, 1988. "Social Security Issues in Developing Countries: The Latin American Experience," IMF Staff Papers, Palgrave Macmillan, vol. 35(3), pages 496-522, September.
- Carroll, Chris & Summers, Lawrence H., 1987.
"Why have private savings rates in the United States and Canada diverged?,"
Journal of Monetary Economics,
Elsevier, vol. 20(2), pages 249-279, September.
- Chris Carroll & Lawrence H. Summers, 1987. "Why Have Private Saving Rates in the United States and Canada Diverged?," NBER Working Papers 2319, National Bureau of Economic Research, Inc.
- Milanovic,Branko L., 1990. "Poverty in Poland, Hungary, and Yugoslavia in the years of crisis, 1978-87," Policy Research Working Paper Series 507, The World Bank.
- George Kopits, 1991. "Fiscal Reform in European Economies in Transition," IMF Working Papers 91/43, International Monetary Fund. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:pfi:pubfin:v:47:y:1992:i:supplement:p:141-51. 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: (Christopher F. Baum)
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.