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Securing our future in a global economy, Volume 1
Author:De Ferranti, David; Perry, Guillermo E.; Gill, Indermit S.; Serven, Luis; Ferreira, Francisco H.G.; Ilahi, Nadeem; Maloney, William F.; Rama, Martin; Country:Latin America; Caribbean;
Date Stored:2001/03/20Document Date:2000/06/30
Document Type:PublicationSubTopics:Health Economics & Finance; Environmental Economics & Policies; Economic Theory & Research; Achieving Shared Growth; Inequality
Major Sector:(Historic)Economic PolicyRegion:Latin America & Caribbean
Report Number:20655Sub Sectors:Macro/Non-Trade
Collection Title:World Bank Latin American and Caribbean studies ; viewpointsVolume No:1

Summary: In the 1990s Latin America and the Caribbean (LAC) began to resurface from the lost decade of the 1980s after a sustained reform effort by the countries to enhance the role of market forces and increase the region's real and financial integration into the global economy. In spite of this, perceptions of economic insecurity run high in the region. This report assesses the extent, causes, and effects of economic insecurity in LAC and identifies policies and institutions that can help reduce the degree of insecurity faced by workers and households in the region, while allowing them to take advantage of the enhanced economic opportunities brought about by the recent reforms. After stating the facts concerning economic insecurity in Chapter 2, the report then sets out a general analytical framework to help organize the various options available to individuals and governments for dealing with economic insecurity (Chapter 3). With this framework, the remaining chapters focus on measures to deal with risks. First, they suggest the causes of macroeconomic or aggregate volatility and some remedies (Chapter 4). Then this report examines how these risks affect individuals and households, and their responses to economic shocks (Chapter 5). Next the report discusses the risk of becoming unemployed, and the public responses to help workers deal with this risk (Chapter 6). Appropriate social insurance and social protection is considered in the final chapter.

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