Survey on the Privatization of Social Security in Latin America: Pension Funds à la Chile?

Harvey Arbeláaez (School of Business Administration, Penn State University)
Claudio D. Milman (Haworth College of Business, Western Michigan University)

Managerial Finance

ISSN: 0307-4358

Publication date: 1 August 1997


This paper surveys the social security system in several Latin American countries. Specifically, the cases of Bolivia and Brazil are documented in order to determine if the Chilean model is a viable one in the Latin America and Caribbean region. An institutional approach suggests that while there has been a marked interest in tailoring pension funds a la Chile, policy makers of the region must be aware of the similarities and differences in the politico‐social‐economic environment. The macroeconomic transformation undertaken in Chile was a unique one obeying to specific conditions of time and process. It is indicated, however, that even in the case of developed nations, some features of the Chilean model may be very appealing as well.


Arbeláaez, H. and Milman, C. (1997), "Survey on the Privatization of Social Security in Latin America: Pension Funds à la Chile?", Managerial Finance, Vol. 23 No. 8, pp. 67-86.

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Copyright © 1997, MCB UP Limited

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