Keeping the Promise of Social Security IN L AT IN AM ERI CA Indermit S. Gill Truman Packard Juan Yermo THE WORLD BANK STANFORD UNIVERSITY PRESS Keeping the Promise of Social Security in Latin America Keeping the Promise of Social Security in Latin America Indermit S. Gill, Truman Packard, and Juan Yermo With the assistance of Todd Pugatch A COPUBLICATION OF STANFORD ECONOMICS AND FINANCE, AN IMPRINT OF STANFORD UNIVERSITY PRESS, AND THE WORLD BANK © 2005 The International Bank for Reconstruction and Development / The World Bank 1818 H Street, NW Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org E-mail
[email protected] All rights reserved. First printing October 2004 1 2 3 4 07 06 05 04 A copublication of Stanford Economics and Finance, an imprint of Stanford University Press, and the World Bank. Stanford University Press 1450 Page Mill Road Palo Alto, Calif. 94304 The World Bank 1818 H Street, NW Washington, DC 20433 The findings, interpretations, and conclusions expressed here are those of the authors and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or inclusion in any information storage and retrieval system, without the prior written permission of the World Bank. The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA, telephone 978-750-8400, fax 978-750-4470, www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, World Bank, 1818 H Street NW, Washington, DC 20433, fax 202-522-2422, e-mail
[email protected] ISBN 0-8213-5817-0 ISBN 0-8047-5181-1 (hardcover) ISBN 0-8047-5238-9 (softcover) (World Rights except North America) (North America) (North America) Library of Congress Cataloging-in-Publication Data Gill, Indermit Singh, 1961Keeping the promise of social security in Latin America / by Indermit S. Gill, Truman Packard, and Juan Yermo. p. cm. — (Latin American development forum) Includes bibliographical referen