Abstract
The future of the welfare state is under threat. There is a growing consensus that current systems cannot survive, not only because of their heavy pressure on public finances but also for motives of disincentive. In particular, the alleged adverse effects on private saving are thought to undermine seriously efficiency and growth. Special attention has been paid in recent years to reforming ‘unsustainable’ social security schemes. The conventional view is that social security is harmful to growth, although it may have some merits in enhancing equity.
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© 2003 CEIS (Centre for International Studies on Economic Growth), University of Rome ‘Tor Vergata’
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Marini, G., Scaramozzino, P. (2003). Intergenerational Transfers and Growth. In: Paganetto, L., Phelps, E.S. (eds) Finance, Research, Education and Growth. Palgrave Macmillan, London. https://doi.org/10.1057/9781403920232_3
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DOI: https://doi.org/10.1057/9781403920232_3
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