Social security: Three lessons from the global crisis

Organization(s): ILO
Author: Christina Behrendt, Florence Bonnet, Krzysztof Hagemejer, Michael Cichon
Regions: World
Year: 2011
Language: English

This article focuses on three lessons that can be drawn from responses to the global crisis:

  • People covered by different social security arrangements with respect to financing, design and coverage are exposed to economic shocks in different degrees.
  • With adequate financing, design and coverage, social security acts as an economic and social stabilizer during a crisis.
  • While the crisis has opened a window of opportunity for the extension of social security, particularly in low-income countries, more political will is needed both nationally and internationally to create the necessary fiscal space.

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Social Protection and Human Rights