Footnote:
In: Socio-Economic Review (2013) 11 (3): 441-469
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 1, 2012 erstellt
Description:
This paper analyses business preferences towards the development of private pension funds. Existing studies about business involvement in welfare state reform equate capital with employers and focus on the socio-economic determinants of their preferences. In contrast, this paper also analyses the role of financial firms. Moreover, it develops a set of hypotheses about how institutions contribute to shape capital's preferences towards pension privatization. In particular, I study the impact of institutional feedback from the public/statutory pay-as-you-go system, from existing private/supplementary occupational pensions and the influence of social partnership. Financial firms are hypothesized to be a key proponent of pension privatization, while employers may have a much more ambivalent attitude. The argument is tested using a comparative historical analysis of pension debates in Belgium and France from the end of the 1970s until the mid-2000s