Social Protection for Equity and Growth

Poor people are among the most vulnerable when a country is hit by macroeconomic crisis or natural disaster. This text provides policy recommendations to reduce this vulnerability and help the poor cope with downturns in income and lesson the impact of sudden events. "Social protection" refers to public interventions - including labour market measures, social safety nets, pension systems and calamity funds - that can help people cope. They target persons with precarious employment conditions or limited access to social secrity or other insurance systems, as well as the elderly and disabled. Often living at or near the subsistence level, these groups generally lack the economic or political power to push for policies that respond to their needs during times of crisis. This book argues that assisting and insuring those in need boosts a country's economic efficiency by reducing the exposure of the poor to economic risk and enabling them to participate in economic activities with higher returns.