IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/4872.html
   My bibliography  Save this paper

Old-Age Pension Reform and Modernization Pathways: Lessons for China from Latin America

Author

Listed:
  • Calvo, Esteban
  • Williamson, John B.

Abstract

While numerous Western countries first experienced cultural rationalization, next economic modernization, and then faced the challenges of population aging and pension policy reform, both Latin America and China, in contrast, are dealing with these challenges in the context of much less developed economies and stronger traditional cultures. In this article we analyze old-age pension reform efforts in eight Latin American countries that have introduced funded defined contribution schemes with individual accounts. We are searching for insights about the potential success of similar reforms being implemented in China. All of these societies are organized primarily around the principles of family, reciprocity, loyalty and poverty. Our analysis suggests that these distinctive characteristics have important implications for the likely success of the reforms currently being implemented in China, particularly in four interrelated areas: coverage, compliance, transparency, and fiscal stability.

Suggested Citation

  • Calvo, Esteban & Williamson, John B., 2006. "Old-Age Pension Reform and Modernization Pathways: Lessons for China from Latin America," MPRA Paper 4872, University Library of Munich, Germany, revised 2007.
  • Handle: RePEc:pra:mprapa:4872
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/4872/1/MPRA_paper_4872.pdf
    File Function: original version
    Download Restriction: no

    File URL: https://mpra.ub.uni-muenchen.de/49060/1/MPRA_paper_49060.pdf
    File Function: revised version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Indermit S. Gill & Truman G. Packard & Juan Yermo, 2005. "Keeping the Promise of Social Security in Latin America," IDB Publications (Books), Inter-American Development Bank, number 59998, February.
    2. repec:idb:idbbks:346 is not listed on IDEAS
    3. James A. Dorn, 2004. "Pension Reform in China: A Question of Property Rights," Cato Journal, Cato Journal, Cato Institute, vol. 23(3), pages 433-446, Winter.
    4. repec:idb:brikps:59998 is not listed on IDEAS
    5. Barr, Abigail & Packard, Truman, 2002. "Revealed preference and self-insurance - Can we learn from the self-employed in Chile?," Policy Research Working Paper Series 2754, The World Bank.
    6. repec:idb:brikps:34758 is not listed on IDEAS
    7. Treisman, Daniel, 2000. "The causes of corruption: a cross-national study," Journal of Public Economics, Elsevier, vol. 76(3), pages 399-457, June.
    8. Robert Holzmann & Edward Palmer, 2006. "Pension Reform : Issues and Prospects for Non-Financial Defined Contribution (NDC) Schemes," World Bank Publications, The World Bank, number 6983.
    9. Indermit S. Gill & Truman Packard & Juan Yermo, 2005. "Keeping the Promise of Social Security in Latin America," World Bank Publications, The World Bank, number 7391.
    10. Robert Holzmann & Richard Hinz, 2005. "Old Age Income Support in the 21st century: An International Perspective on Pension Systems and Reform," World Bank Publications, The World Bank, number 7336.
    11. L. Randall Wray & Stephanie Bell, 2004. "Introduction," Chapters,in: Credit and State Theories of Money, chapter 1 Edward Elgar Publishing.
    12. Friedman, Barry*James, Estelle*Kane, Cheikh*Quei, 1996. "How can China provide income security for its rapidly aging population?," Policy Research Working Paper Series 1674, The World Bank.
    13. Federico Escobar & Osvaldo Nina, 2004. "Pension Reform in Bolivia: A Review of Approach and Experience," Development Research Working Paper Series 04/2004, Institute for Advanced Development Studies.
    14. Tuan, Francis & Somwaru, Agapi & Diao, Xinshen, 2000. "Rural labor migration, characteristics, and employment patterns," TMD discussion papers 63, International Food Policy Research Institute (IFPRI).
    15. Rofman, Rafael, 2005. "Social security coverage in Latin America," Social Protection and Labor Policy and Technical Notes 32754, The World Bank.
    16. Arenas de Mesa, Alberto, 2000. "Cobertura previsional en Chile: lecciones y desafíos del sistema de pensiones administrado por el sector privado," Financiamiento para el Desarrollo 105, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    17. Sabrina T. Wong & Grace J. Yoo & Anita L. Stewart, 2006. "The Changing Meaning of Family Support Among Older Chinese and Korean Immigrants," Journals of Gerontology: Series B, Gerontological Society of America, vol. 61(1), pages 4-9.
    18. Philippe Robert-Demontrond & R. Ringoot, 2004. "Introduction," Post-Print halshs-00081823, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Esteban Calvo, 2014. "Comparative-historical Analysis of Aging Policy Reforms in Argentina, Chile, Costa Rica, and Mexico," Working Papers 61, Facultad de Economía y Empresa, Universidad Diego Portales.
    2. María Claudia LLANES VALENZUELA & Gabriel Armando PIRAQUIVE G., 2012. "Sistemas pensionales y solidarios de Chile, Irlanda,Polonia, Brasil y Perú," ARCHIVOS DE ECONOMÍA 009596, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
    3. Fabio Bertranou & Esteban Calvo & Evelina Bertranou, 2009. "Is Latin America Retreating From Individual Retirement Accounts?," Issues in Brief ib2009-9-14, Center for Retirement Research, revised Jul 2009.
    4. Bertranou, Fabio & Calvo, Esteban & Bertranou, Evelina, 2010. "¿Está Latinoamérica alejándose de las cuentas individuales de pensiones?
      [Is Latin America Retreating from Individual Retirement Accounts?]
      ," MPRA Paper 48751, University Library of Munich, Germany.

    More about this item

    Keywords

    Pension reform; China; Latin America; Social Security; Culture;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:4872. 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: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.