Social Protection Responses to the Global Economic Crisis in ECA

Besides affecting the private sector, the current global economic downturn will likely have a far-reaching impact on government revenues around the world. As country budgets are squeezed tight, social programs which directly help poor and vulnerabl...

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Bibliographic Details
Main Authors:	Lindert, Kathy, Schwarz, Anita
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AGING POPULATIONS ASSISTANCE PROGRAMS BENEFICIARY BENEFIT SCHEMES CASH TRANSFER CASH TRANSFER PROGRAMS CASH TRANSFERS CHILD ALLOWANCES CHILD HEALTH CHILD LABOR CONDITIONAL CASH DEFICITS DEFINED BENEFIT DEFINED BENEFIT SCHEMES ECONOMIC CRISIS ECONOMIC DOWNTURN ECONOMIC SHOCKS ELIGIBILITY CRITERIA EXPOSURE FAMILY ALLOWANCES FAMILY BENEFIT FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FISCAL EFFORT FOOD CONSUMPTION FOOD PRICES FUNDED PENSION FUNDED PENSION SYSTEMS FUNDED SYSTEMS GOVERNMENT REVENUES GOVERNMENT SPENDING HEALTH SERVICES HOUSEHOLD WELFARE HOUSING ALLOWANCES HUMAN CAPITAL INCOME INCOMES INFLATION INFORMATION SYSTEMS LABOR MARKETS MARKET RISK MEANS TESTING MINIMUM INCOME NATURAL DISASTERS PENSION PENSION CONTRIBUTIONS PENSION FUNDS PENSION PROGRAMS PENSION REFORMS PENSION SAVINGS PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS PENSIONERS PENSIONS PHYSICAL ASSETS POOR PORTFOLIOS POVERTY ALLEVIATION PRIVATE PENSION PRIVATE PENSIONS PUBLIC PENSION PUBLIC SPENDING PUBLIC WORKS REGISTRATION PROCESS REMITTANCES RESPONSE TO CRISES RETIREMENT RETIREMENT AGE RETIREMENT PERIOD SAFETY SAFETY NET SAFETY NET PROGRAMS SAFETY NET SYSTEMS SAFETY NETS SAVINGS SAVINGS SCHEMES SCHOOL ATTENDANCE SOCIAL ASSISTANCE SOCIAL BENEFITS SOCIAL INSURANCE SOCIAL PENSIONS SOCIAL PROGRAMS SOCIAL PROTECTION SOCIAL SAFETY NETS SOCIAL SCHEMES SOCIAL SPENDING SSN SUPPORT TO FAMILIES TARGETING TARGETING MECHANISMS TRACK RECORDS UNEMPLOYMENT UNEMPLOYMENT INSURANCE VALUE OF ASSETS VOLUNTARY PENSION VULNERABLE PEOPLE WAGES WAR WORK PROGRAM YOUNGER WORKERS
Online Access:	http://documents.worldbank.org/curated/en/2009/03/11672153/social-protection-responses-global-economic-crisis-eca http://hdl.handle.net/10986/10258

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Summary:	Besides affecting the private sector, the current global economic downturn will likely have a far-reaching impact on government revenues around the world. As country budgets are squeezed tight, social programs which directly help poor and vulnerable people will become pressure points for reducing government spending. In many countries in Eastern Europe and Central Asia (ECA), two years of rising food prices, high energy costs and the global economic downturn have combined with other shocks like natural disasters and political instability. The impacts of these crises could reduce government revenues and affect social spending and pension systems, even as the need for unemployment and benefits increases. In the short run, ECA countries may call on the World Bank to provide financial or technical support to help with the immediate impacts of the crises. Rapid support could include: (a) helping countries finance temporary scaling-up of well-targeted safety nets, either in beneficiary coverage or with a topping-up of benefits values; and (b) supporting actions to protect the budgets of well-targeted programs and other crucial spending on education and health. Governments and the Bank need to be prepared to respond more adeptly in the future; safety nets are important not only in times of crises but, in the long-run, they help to protect the poor and allow governments to avoid other, more costly or inefficient policies.

Social Protection Responses to the Global Economic Crisis in ECA

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