중남미

The main purpose of this study is to evaluate social security reform in Latin America. Particularly, this study focuses on the comparative analysis between Chile’s full privatization model and Argentina’s mixed model in terms of three critical roles of social security in general; (1) social benefits, (2) political independence, and (3) economic viability. In so doing, this study elucidates the determinants of social security reform. As a result, the author argues that the differences both in the political setting of a country and in the degree of transition cost determine the results of social security reform in Latin America.