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Ideas, Economic Pressures, and Pension Reform |
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Abstract:
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The recent wave of pension privatization has been spurred, not by economic crisis in general, but rather by a more specific set of economic problems, namely rising pension expenditures and chronic capital shortages. Many policymakers have believed that privatizing their public pension systems would boost their domestic savings rate and cut their public pension expenditures, thereby reducing their dependence on unstable foreign capital and freeing up resources for other, more productive, uses. To understand why policymakers believed that the privatization schemes would bring these benefits, however, we must take ideational factors into account. Two factors have played a particularly important role in spreading beliefs about the economic efficacy of pension privatization: the emergence and diffusion of the Chilean model; and the growing influence of the World Bank in the area of pension policy. A quantitative analysis of the determinants of pension privatization around the world provides support for these arguments. |
Most Common Document Word Stems:
pension (255), privat (190), reform (141), system (125), countri (112), world (86), econom (78), bank (75), public (73), save (57), social (46), polici (46), domest (45), policymak (43), secur (42), rate (38), capit (38), chilean (37), model (37), polit (36), latin (35), |
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Association:
Name: American Political Science Association
URL: http://www.apsanet.org
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Citation:
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MLA Citation:
| Madrid, Raul. "Ideas, Economic Pressures, and Pension Reform" Paper presented at the annual meeting of the American Political Science Association, Boston Marriott Copley Place, Sheraton Boston & Hynes Convention Center, Boston, Massachusetts, Aug 28, 2002 <Not Available>. 2009-05-26 <http://www.allacademic.com/meta/p65325_index.html> |
APA Citation:
| Madrid, R. L. , 2002-08-28 "Ideas, Economic Pressures, and Pension Reform" Paper presented at the annual meeting of the American Political Science Association, Boston Marriott Copley Place, Sheraton Boston & Hynes Convention Center, Boston, Massachusetts Online <.PDF>. 2009-05-26 from http://www.allacademic.com/meta/p65325_index.html |
Publication Type: Conference Paper/Unpublished Manuscript
Review Method: Peer Reviewed
Abstract: The recent wave of pension privatization has been spurred, not by economic crisis in general, but rather by a more specific set of economic problems, namely rising pension expenditures and chronic capital shortages. Many policymakers have believed that privatizing their public pension systems would boost their domestic savings rate and cut their public pension expenditures, thereby reducing their dependence on unstable foreign capital and freeing up resources for other, more productive, uses. To understand why policymakers believed that the privatization schemes would bring these benefits, however, we must take ideational factors into account. Two factors have played a particularly important role in spreading beliefs about the economic efficacy of pension privatization: the emergence and diffusion of the Chilean model; and the growing influence of the World Bank in the area of pension policy. A quantitative analysis of the determinants of pension privatization around the world provides support for these arguments. |
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| Document Type: |
.pdf |
| Page count: |
24 |
| Word count: |
10570 |
| Text sample: |
| 1 IDEAS ECONOMIC PRESSURES AND PENSION REFORM A paper prepared for delivery at the 2002 meeting of the American Political Science Association Boston Mass. Aug. 30 -- Sept. 2 2002 Raśl Madrid Assistant Professor Dept. of Government UTAustin Austin TX 78712 (512) 2327246 rmadrid@mail.utexas.edu 2 Abstract The recent wave of pension privatization has been spurred not by economic crisis in general but rather by a more specific set of economic problems namely rising pension expenditures and chronic capital shortages. |
| party's share of seats in the legislature 0.045* (2.453) 0.053** (2.622) 0.030* (2.152) 0.055** (2.661) 0.059** (2.681) Latin America 3.359** (3.213) 3.600** (3.254) 2.600** (3.580) 3.774** (3.237) 3.620** (3.236) World Bank pension reform mission 2.621** (2.932) 3.006** (2.973) 2.700* (2.432) 2.894** (2.734) World Bank loans (as a % of GDP) 2.241 (0.408) Economic recession 0.383 (0.549) Hyper inflation 0.890 (1.394) Number of observations 82 81 81 81 79 Per cent correctly predicted 91.5 96.3 83.9 95.0 93.7 Log likelihood |
Similar Titles:
Un-privatizing Pensions?: the Dynamic Policy Effects of Social Security Reform in the Short, Medium and Long term
The Political Economy of Pension Reform in Russia: Why did Russia Adopt the World Bank Model?
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