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Building an environment for pension reform in developing countries

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  • Mitchell,Olivia

Abstract

Fiscal problems are prompting many developing nations to amend and sometimes restructure national old-age programs. As they do so, these countries seek guidance on how to design market and regulatory structures to enhance chances of success. This paper investigates the types of risks facing participants in retirement systems, and examines which financial, regulatory, and labor market institutions appear most supportive of retirement system reforms, and most urgently needed, in developing countries.

Suggested Citation

  • Mitchell,Olivia, 1998. "Building an environment for pension reform in developing countries," Social Protection Discussion Papers and Notes 20047, The World Bank.
    • Handle: RePEc:wbk:hdnspu:20047
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    References listed on IDEAS

    as
    1. Ping-Lung Hsin & Olivia Mitchell, 1994. "The Political Economy of Public Pensions: Pension Funding, Governance, and Fiscal Stress," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 9(1), pages 151-168, June.
    2. Jeffrey D. Sachs & Aaron Tornell & Andrés Velasco, 1996. "Financial Crises in Emerging Markets: The Lessons from 1995," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1), pages 147-216.
    3. Boyd, John & Smith, Bruce, 1996. "The Coevolution of the Real and Financial Sectors in the Growth Process," The World Bank Economic Review, World Bank, vol. 10(2), pages 371-396, May.
    4. Allen, Franklin & Santomero, Anthony M., 1997. "The theory of financial intermediation," Journal of Banking & Finance, Elsevier, vol. 21(11-12), pages 1461-1485, December.
    5. Baxter, Marianne & Jermann, Urban J, 1997. "The International Diversification Puzzle Is Worse Than You Think," American Economic Review, American Economic Association, vol. 87(1), pages 170-180, March.
    6. James E. Pesando, "undated". "The Government's Role in Insuring Pensions," Pension Research Council Working Papers 94-16, Wharton School Pension Research Council, University of Pennsylvania.
    7. Vittas, Dimitri, 1995. "Sequencing social security, pension, and insurance reform," Policy Research Working Paper Series 1551, The World Bank.
    8. repec:ucp:bkecon:9780226184890 is not listed on IDEAS
    9. Demirguc-Kunt, Ash & Levine, Ross, 1996. "Stock Markets, Corporate Finance, and Economic Growth: An Overview," The World Bank Economic Review, World Bank, vol. 10(2), pages 223-239, May.
    10. Olivia S. Mitchell & Gary S. Fields, "undated". "Designing Pension systems for Developing Countries," Pension Research Council Working Papers 95-14, Wharton School Pension Research Council, University of Pennsylvania.
    11. George G. Pennacchi, "undated". "Government Guarantees for Old Age Income," Pension Research Council Working Papers 97-10, Wharton School Pension Research Council, University of Pennsylvania.
    12. Holzmann, Robert, 1997. "Starting Over in Pensions: The Challenges Facing Central and Eastern Europe1," Journal of Public Policy, Cambridge University Press, vol. 17(2), pages 195-222, May.
    13. Salvador Valdés & Peter Diamond, "undated". "Social Security Reforms in Chile," Documentos de Trabajo 161, Instituto de Economia. Pontificia Universidad Católica de Chile..
    14. Olivia S. Mitchell & Flavio Ataliba Barreto, 1997. "After Chile, What? Second-Round Pension Reforms in Latin America," NBER Working Papers 6316, National Bureau of Economic Research, Inc.
    15. Olivia S. Mitchell & Stephen P. Zeldes, "undated". "A Framework for Analyzing Social Security Privatization," Pension Research Council Working Papers 96-1, Wharton School Pension Research Council, University of Pennsylvania.
    16. Levine, Ross, 1991. "Stock Markets, Growth, and Tax Policy," Journal of Finance, American Finance Association, vol. 46(4), pages 1445-1465, September.
    17. Munnell, Alicia H, 1976. "Private Pensions and Saving: New Evidence," Journal of Political Economy, University of Chicago Press, vol. 84(5), pages 1013-1032, October.
    18. Robert Holzmann, 1997. "Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 149-178, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Olivia S. Mitchell, 2001. "Developments in Decumulation: The Role of Annuity Products in Financing Retirement," NBER Working Papers 8567, National Bureau of Economic Research, Inc.
    2. Impavido, Gregorio & Musalem, Alberto R. & Vittas, Dimitri, 2002. "Contractual savings in countries with a small financial sector," Policy Research Working Paper Series 2841, The World Bank.
    3. Olivia S. Mitchell, "undated". "Developments in Pensions," Pension Research Council Working Papers 98-4, Wharton School Pension Research Council, University of Pennsylvania.
    4. Gustavo Ferro, 2021. "¿Qué aprendimos de las reformas previsionales argentinas de 1994 y de 2008?," CEMA Working Papers: Serie Documentos de Trabajo. 810, Universidad del CEMA.
    5. Olivia S. Mitchell, "undated". "Insulating Old-Age Systems from Political Risk," Pension Research Council Working Papers 98-3, Wharton School Pension Research Council, University of Pennsylvania.
    6. Sylvester Schieber & John B. Shoven, 2000. "Administering a Cost-Effective National Program of Personal Security Accounts," NBER Chapters, in: Administrative Aspects of Investment-Based Social Security Reform, pages 41-76, National Bureau of Economic Research, Inc.
    7. Katherin Ross Phillips & Timothy Smeeding, 1999. "Social Protection for the Poor in the Developed World: The Evidence from LIS," LIS Working papers 204, LIS Cross-National Data Center in Luxembourg.
    8. Olivia S. Mitchell & Flavio Ataliba Barreto, 1997. "After Chile, What? Second-Round Pension Reforms in Latin America," NBER Working Papers 6316, National Bureau of Economic Research, Inc.
    9. Olivia S. Mitchell, 1998. "Social security reform in Latin America," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 15-18.
    10. Pundarik Mukhopadhaya & Sunil Venaik, 2014. "Old-Age Income Insecurity in Singapore: A Problem of Non-Inclusive Development," Australian Economic Papers, Wiley Blackwell, vol. 53(3-4), pages 184-206, December.

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