Bringing back the state: understanding varieties of pension re-reforms in Latin America

Carrera, Leandro ORCID: 0000-0001-6561-9427 and Angelaki, Marina (2021) Bringing back the state: understanding varieties of pension re-reforms in Latin America. Latin American Politics and Society, 63 (4). 22 - 44. ISSN 1531-426X

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Abstract

Pension policy is a highly political issue across Latin America. Since the mid-2000s, several countries have re-reformed their pension systems with a general trend toward more state involvement, yet with significant variation. This article contends that policy legacies and the institutional political setting are key to understanding such variation. Analyzing the cases of Argentina, Bolivia, and Chile, this article shows that where a weak legacy, characterized by low coverage and savings rates, a weakly organized pension industry, and strong societal groups that oppose the private system, combines with a strong institutional setting, characterized by a government with large support in Congress and where the president concentrates decisionmaking, re-reform outcomes may lead to the outright elimination of the private pillar. Conversely, where a strong legacy combines with a weak institutional setting, re-reform outcomes will tend to maintain the private pillar and expand only the role of the public one.

Item Type:	Article
Official URL:	https://www.cambridge.org/core/journals/latin-amer...
Additional Information:	© 2021 The Authors
Divisions:	Government
Subjects:	H Social Sciences > HD Industries. Land use. Labor J Political Science > JL Political institutions (America except United States)
Date Deposited:	21 Oct 2021 11:39
Last Modified:	18 Mar 2024 23:45
URI:	http://eprints.lse.ac.uk/id/eprint/112478

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