In 1995, Latvia became the first country in Central and Eastern Europe to implement parametric reform of the Soviet-style PAYGO pension system, and the first in the world to implement the"notional defined contribution (NDC) system"originally designed for Sweden. The Government's intention was to...

The difficulties most Latin American countries have experienced in returning to sustained growth after the world recession and debt crisis of 1982 have surprised and frustrated many observers. Concern is increasingly expressed about the social costs of this period of recession and adjustment,...