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Does the Privatization of Social security Make Sense for Developing Nations?

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  • John B. Williamson
  • Fred C. Pampel

Abstract

We discuss the privatization schemes of Chile and Argentina following a review of three alternatives to privatization. Our major conclusions are as follows: (1) the Chilean scheme has performed very well during much of the past 15 years, but it is not yet clear what will happen during an extended period of economic stagnation and declining financial markets; (2) for many countries it would make more sense to reform existing public pension schemes than to replace them with privatized schemes, at least until one has a better idea how privatized schemes perform in adverse financial environments; (3) privatized schemes have important distributional effects that deserve more attention.

Suggested Citation

  • John B. Williamson & Fred C. Pampel, 1998. "Does the Privatization of Social security Make Sense for Developing Nations?," International Social Security Review, John Wiley & Sons, vol. 51(4), pages 3-31, October.
    • Handle: RePEc:wly:intssr:v:51:y:1998:i:4:p:3-31
    DOI: 10.1111/1468-246X.00022
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