Social protection spending and financial crises

This paper assesses the impact of distinct types of financial crises on social protection spending using a panel of 105 countries over the period 1991-2019. The findings show that spending on social protection increases when financial crises strike, mainly in the aftermath of banking crises. However, currency and debt crises are detrimental to spending on social protection, threatening social wellbeing.

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This paper assesses the impact of different types of financial crises on social protection spending. The findings suggest that social protection spending increases when financial crises occur, particularly in the aftermath of banking crises. However, currency and debt crises have a detrimental effect on social protection spending, posing a threat to social wellbeing.