Protecting All : Risk Sharing for a Diverse and Diversifying World of Work

This white paper focusses on the policy interventions made to help people manage risk, uncertainty and the losses from events whose impacts are channeled primarily through the labor market. The objectives of the white paper are: to scrutinize the relevance and effects of prevailing risk-sharing pol...

Full description

Bibliographic Details
Main Authors:	Packard, Truman, Gentilini, Ugo, Grosh, Margaret, O’Keefe, Philip, Palacios, Robert, Robalino, David, Santos, Indhira
Format:	Book
Language:	English
Published:	Washington, DC: World Bank 2019
Subjects:	FUTURE OF WORK LABOR REGULATION LABOR INSTITUTIONS JOBS SOCIAL INSURANCE INFORMAL ECONOMY LABOR MARKETS SOCIAL ASSISTANCE INFORMAL EMPLOYMENT RISK SHARING SOCIAL PROTECTION LABOR PROGRAMS
Online Access:	http://documents.worldbank.org/curated/en/997741568048792164/Protecting-All-Risk-Sharing-for-a-Diverse-and-Diversifying-World-of-Work http://hdl.handle.net/10986/32353

id	okr-10986-32353
recordtype	oai_dc
spelling	okr-10986-323532021-04-23T14:05:13Z Protecting All : Risk Sharing for a Diverse and Diversifying World of Work Packard, Truman Gentilini, Ugo Grosh, Margaret O’Keefe, Philip Palacios, Robert Robalino, David Santos, Indhira FUTURE OF WORK LABOR REGULATION LABOR INSTITUTIONS JOBS SOCIAL INSURANCE INFORMAL ECONOMY LABOR MARKETS SOCIAL ASSISTANCE INFORMAL EMPLOYMENT RISK SHARING SOCIAL PROTECTION LABOR PROGRAMS This white paper focusses on the policy interventions made to help people manage risk, uncertainty and the losses from events whose impacts are channeled primarily through the labor market. The objectives of the white paper are: to scrutinize the relevance and effects of prevailing risk-sharing policies in low- and middle-income countries; take account of how global drivers of disruption shape and diversify how people work; in light of this diversity, propose alternative risk-sharing policies, or ways to augment and improve current policies to be more relevant and responsive to peoples’ needs; and map a reasonable transition path from the current to an alternative policy approach that substantially extends protection to a greater portion of working people and their families. This white paper is a contribution to the broader, global discussion of the changing nature of work and how policy can shape its implications for the wellbeing of people. We use the term risk-sharing policies broadly in reference to the set of institutions, regulations and interventions that societies put in place to help households manage shocks to their livelihoods. These policies include formal rules and structures that regulate market interactions (worker protections and other labor market institutions) that help people pool risks (social assistance and social insurance), to save and insure affordably and effectively (mandatory and incentivized individual savings and other financial instruments) and to recover from losses in the wake of livelihood shocks (“active” reemployment measures). Effective risk-sharing policies are foundational to building equity, resilience and opportunity, the strategic objectives of the World Bank’s Social Protection and Jobs Global Practice. Given failures of factor markets and the market for risk in particular the rationale for policy intervention to augment the options that people have to manage shocks to their livelihoods is well-understood and accepted. By helping to prevent vulnerable people from falling into poverty -and people in the poorest households from falling deeper into poverty- effective risk-sharing interventions dramatically reduce poverty. Households and communities with access to effective risk-sharing instruments can better maintain and continue to invest in these vital assets, first and foremost, their human capital, and in doing so can reduce the likelihood that poverty and vulnerability will be transmitted from one generation to the next. Risk-sharing policies foster enterprise and development by ensuring that people can take appropriate risks required to grasp opportunities and secure their stake in a growing economy. 2019-09-06T19:47:23Z 2019-09-06T19:47:23Z 2019-09-09 Book http://documents.worldbank.org/curated/en/997741568048792164/Protecting-All-Risk-Sharing-for-a-Diverse-and-Diversifying-World-of-Work 978-1-4648-1427-3 http://hdl.handle.net/10986/32353 English Human Development Perspectives; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	FUTURE OF WORK LABOR REGULATION LABOR INSTITUTIONS JOBS SOCIAL INSURANCE INFORMAL ECONOMY LABOR MARKETS SOCIAL ASSISTANCE INFORMAL EMPLOYMENT RISK SHARING SOCIAL PROTECTION LABOR PROGRAMS
spellingShingle	FUTURE OF WORK LABOR REGULATION LABOR INSTITUTIONS JOBS SOCIAL INSURANCE INFORMAL ECONOMY LABOR MARKETS SOCIAL ASSISTANCE INFORMAL EMPLOYMENT RISK SHARING SOCIAL PROTECTION LABOR PROGRAMS Packard, Truman Gentilini, Ugo Grosh, Margaret O’Keefe, Philip Palacios, Robert Robalino, David Santos, Indhira Protecting All : Risk Sharing for a Diverse and Diversifying World of Work
relation	Human Development Perspectives;
description	This white paper focusses on the policy interventions made to help people manage risk, uncertainty and the losses from events whose impacts are channeled primarily through the labor market. The objectives of the white paper are: to scrutinize the relevance and effects of prevailing risk-sharing policies in low- and middle-income countries; take account of how global drivers of disruption shape and diversify how people work; in light of this diversity, propose alternative risk-sharing policies, or ways to augment and improve current policies to be more relevant and responsive to peoples’ needs; and map a reasonable transition path from the current to an alternative policy approach that substantially extends protection to a greater portion of working people and their families. This white paper is a contribution to the broader, global discussion of the changing nature of work and how policy can shape its implications for the wellbeing of people. We use the term risk-sharing policies broadly in reference to the set of institutions, regulations and interventions that societies put in place to help households manage shocks to their livelihoods. These policies include formal rules and structures that regulate market interactions (worker protections and other labor market institutions) that help people pool risks (social assistance and social insurance), to save and insure affordably and effectively (mandatory and incentivized individual savings and other financial instruments) and to recover from losses in the wake of livelihood shocks (“active” reemployment measures). Effective risk-sharing policies are foundational to building equity, resilience and opportunity, the strategic objectives of the World Bank’s Social Protection and Jobs Global Practice. Given failures of factor markets and the market for risk in particular the rationale for policy intervention to augment the options that people have to manage shocks to their livelihoods is well-understood and accepted. By helping to prevent vulnerable people from falling into poverty -and people in the poorest households from falling deeper into poverty- effective risk-sharing interventions dramatically reduce poverty. Households and communities with access to effective risk-sharing instruments can better maintain and continue to invest in these vital assets, first and foremost, their human capital, and in doing so can reduce the likelihood that poverty and vulnerability will be transmitted from one generation to the next. Risk-sharing policies foster enterprise and development by ensuring that people can take appropriate risks required to grasp opportunities and secure their stake in a growing economy.
format	Book
author	Packard, Truman Gentilini, Ugo Grosh, Margaret O’Keefe, Philip Palacios, Robert Robalino, David Santos, Indhira
author_facet	Packard, Truman Gentilini, Ugo Grosh, Margaret O’Keefe, Philip Palacios, Robert Robalino, David Santos, Indhira
author_sort	Packard, Truman
title	Protecting All : Risk Sharing for a Diverse and Diversifying World of Work
title_short	Protecting All : Risk Sharing for a Diverse and Diversifying World of Work
title_full	Protecting All : Risk Sharing for a Diverse and Diversifying World of Work
title_fullStr	Protecting All : Risk Sharing for a Diverse and Diversifying World of Work
title_full_unstemmed	Protecting All : Risk Sharing for a Diverse and Diversifying World of Work
title_sort	protecting all : risk sharing for a diverse and diversifying world of work
publisher	Washington, DC: World Bank
publishDate	2019
url	http://documents.worldbank.org/curated/en/997741568048792164/Protecting-All-Risk-Sharing-for-a-Diverse-and-Diversifying-World-of-Work http://hdl.handle.net/10986/32353
_version_	1764476370661933056

Protecting All : Risk Sharing for a Diverse and Diversifying World of Work

Similar Items