English, Article, Journal or magazine article edition: Social Safety Nets and Structural Adjustment OECD

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Social Safety Nets and Structural Adjustment
Author
  • OECD
Physical Description
  • preprint
Notes
  • Social safety nets protect citizens against hardship. By offering compensation, social safety nets may help overcome the political resistance to trade liberalisation and structural reform, but they can also weaken the incentives to work and save. Depending on their design, safety nets may also ease or impair adjustment to changing economic circumstances. Against this backdrop, the paper looks at the impact of social safety nets on output and employment and on the ability of economies to absorb adverse shocks. Dependent on their design, the presence of extensive social safety nets is often associated with more limited labour resource use and lower per capita GDP levels, even though activation policy can provide offsets. Moreover, many of the characteristics of social safety nets that reduce output and employment levels heighten the persistence of slack in the wake of adverse shocks. By contrast, the impact of social safety nets on business investment and household saving, and by extension the current account balance, is not clear-cut. Systèmes de protection sociale et ajustement structurelLes systèmes de protection sociale ont pour but de protéger la population contre certaines difficultés. En offrant une compensation, les systèmes de protection sociale peuvent contribuer à surmonter la résistance politique à la libéralisation des échanges et aux réformes structurelles, mais ils peuvent aussi affaiblir les incitations au travail et à l'épargne. Dans ce contexte, cet article examine l’impact des systèmes de protection sociale sur la production et sur l’emploi et également du point de vue de la capacité d’absorption de chocs négatifs par l’économie. La présence de larges systèmes de protection sociale, selon leur conception, se traduit souvent par une utilisation plus limitée des ressources en main d’oeuvre et par des niveaux plus faibles de PIB par habitant, même si les mesures d’activation peuvent avoir un effet compensateur. De surcroît, un grand nombre des caractéristiques des systèmes de protection sociale qui réduisent les niveaux de production et d’emploi accentuent la persistance d’une sous-utilisation des ressources à la suite d’un choc négatif. En revanche, l’impact des systèmes de protection sociale sur l’investissement des entreprises et l’épargne des ménages et, partant, sur le solde de balance courante, n’est pas bien défini.
  • structural policy, politique structurelle, economic convergence, convergence économique, social safety net, economic resilience, système de protection sociale, résilience économique
  • RePEc:oec:ecoaaa:517-en
Language
  • English
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