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THE SOCIAL SECURITY SYSTEM IN HONG KONG: ESTABLISHMENT AND READJUSTMENT OF THE LIBERAL WELFARE MODEL
Author(s) -
Sawada Yukari
Publication year - 2004
Publication title -
the developing economies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.305
H-Index - 30
eISSN - 1746-1049
pISSN - 0012-1533
DOI - 10.1111/j.1746-1049.2004.tb01063.x
Subject(s) - social security , unemployment , pension , welfare , welfare state , social welfare , private sector , politics , population , state (computer science) , economics , economic growth , business , labour economics , market economy , political science , sociology , law , finance , demography , algorithm , computer science
Hong Kong's social security system has followed a “liberal” welfare state regime. The system has undergone changes along with the high economic growth, changes in the labor market, and transformation of the political environment, but has retained the fundamental principle of a social security system led by the private sector. In recent years, Hong Kong has responded to the aging population and growing unemployment by introducing the Mandatory Provident Fund Scheme that requires individuals to join private‐sector pension schemes and by intensifying cooperation with nongovernmental organizations. This indicates the deep‐seated nature of the influence of the liberal regime in Hong Kong.