|AUTHOR||Holzmann Robert and Jorgensen Steen|
|TOPIC||Child-sensitive social protection|
This paper proposes a new definition and conceptual framework for Social Protection grounded in Social Risk Management. The concept repositions the traditional areas of Social Protection in a framework that includes three strategies to deal with risk (prevention, mitigation and coping), three levels of formality of risk management (informal, market-based, public) and many actors against the background of asymmetric information and different types of risk. This expanded view of Social Protection emphasizes the double role of risk management instruments-protecting basic livelihood as well as promoting risk taking. It focuses specifically on the poor since they are the most vulnerable to risk and typically lack appropriate risk management instruments, which constrains them from engaging in riskier but also higher return activities and hence gradually moving out of chronic poverty.