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Social pension and security systems worldwide are experiencing difficulties in maintaining the financing required to provide promised benefits. Despite their economic and…
Social pension and security systems worldwide are experiencing difficulties in maintaining the financing required to provide promised benefits. Despite their economic and political difficulties, many Latin American countries have arguably been more proactive and innovative with the implementation of social security reform than other regions of the world. Suggestions for reform of the Social Security system in Venezuela are provided by integrating many of the same concepts found in other restructurings in Latin America. It is the conclusion of this analysis that, given the political and economic instability of the region, a major overhaul of the existing system is not politically feasible. An incremental approach with minimal disruption is more attainable given the circumstances.
This book is an attempt to reflect on what we have learned from financial policies and financial crises in Latin America. The 21 chapters in this volume capture the developments in various ways. They cover theoretical contributions, regional empirical studies, and specific inquiries on Argentina, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Peru and Venezuela. The breadth of methodologies implemented suggests that researchers are looking at Latin American financial markets through a variety of lenses. The chapters are divided into 7 parts, including, in Part I, an initial overview. Part II examines the foreign exchange markets in Latin America and their interactions with other markets. Part III discusses dollarization issues in the region. Part IV then takes up the issue of banking in Latin America. Equity and bond markets are considered in Parts V and VI, respectively. Lastly, Part VII considers pension systems in Latin America. Taken as a whole, the 21 chapters seize the excitement of studying Latin America and provide lessons that are applicable around the world.