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This book is an edited volume which contains empirical studies on determinants of poverty and its reduction in Africa. It looks at multidimensional measures of poverty, production and productivity-related factors, policies influencing poverty and random, hazardous but preventive factors influencing poverty levels and their reduction. The book argues that we need to account for different dimensions of poverty, when it is measured and classified, and for identifying the determinants of poverty and factors reducing poverty. The studies in the volume provide readers with a comprehensive picture of the state of poverty, its measurement, causal factors and efficient policies and practices in poverty reduction on the African continent as a whole and also in selected countries.
This volume of Research on Economic Inequality contains research on how we measure poverty, inequality and welfare and how these measurements contribute towards policies for social mobility. The volume contains eleven papers, some of which focus on the uneven impact of the Covid-19 pandemic on poverty and welfare.
We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel results. First, during our sample period individuals earn markedly different average returns on their financial assets (a standard deviation of 14%) and on their net worth (a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90th percentile of the financial wealth distribution increases the return by 3 percentage points - and by 17 percentage points when the same exercise is performed for the return to net worth. Fourth, wealth returns exhibit substantial persistence over time. We argue that while this persistence partly reflects stable differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the implications of these findings for several strands of the wealth inequality debate.
Considerable poverty and food insecurity in Ethiopia, combined with the overwhelming majority of Ethiopians who depend on agriculture for their livelihoods, make agricultural transformation a crucial development goal for the country. One promising improvement is to increase production of teff, the calorie- and nutrient-rich but low-yielding staple. The Economics of Teff: Exploring Ethiopia’s Biggest Cash Crop examines key aspects of teff production, marketing, and consumption, with a focus on opportunities for and challenges to further growth. The authors identify ways to realize teff’s potential, including improving productivity and resilience, selecting and scaling up new technologies, establishing distribution systems adapted to different areas’ needs, managing labor demand and postharvest operations, and increasing access to larger and more diverse markets. The book’s analysis and policy conclusions should be useful to policy makers, researchers, and others concerned with Ethiopia’s economic development.
After decades of stagnation, the size of Latin America's middle class recently expanded to the point where, for the first time ever, the number of people in poverty is equal to the size of the middle class. This volume investigates the nature, determinants and possible consequences of this remarkable process of social transformation. We propose an original definition of the middle class, tailor-made for Latin America, centered on the concept of economic security and thus a low probability of falling into poverty. Given our definition of the middle class, there are four, not three, classes in Latin America. Sandwiched between the poor and the middle class there lies a large group of people who appear to make ends meet well enough, but do not enjoy the economic security that would be required for membership of the middle class. We call this group the 'vulnerable'. In an almost mechanical sense, these transformations in Latin America reflect both economic growth and declining inequality in over the period. We adopt a measure of mobility that decomposes the 'gainers' and 'losers' in society by social class of each household. The continent has experienced a large amount of churning over the last 15 years, at least 43% of all Latin Americans changed social classes between the mid 1990s and the end of the 2000s. Despite the upward mobility trend, intergenerational mobility, a better proxy for inequality of opportunity, remains stagnant. Educational achievement and attainment remain to be strongly dependent upon parental education levels. Despite the recent growth in pro-poor programs, the middle class has benefited disproportionally from social security transfers and are increasingly opting out from government services. Central to the region's prospects of continued progress will be its ability to harness the new middle class into a new, more inclusive social contract, where the better-off pay their fair share of taxes, and demand improved public services.
Study with particular reference to Orissa, India.
Most information about the incomes of people in Britain today, such as provided by official statistics, tells us how much inequality there is or how many poor people there are in a given year and compares those numbers with the corresponding statistics from the previous year. Missing from snapshot pictures like these is information about whether the people who were poor one year are the same people who are poor the following year; and the circumstances of those with middle-income or top-income origins are not tracked over time. This book fills in the missing information. The author likens Britain's income distribution to a multi-story apartment building with the numbers of residents on the different floors corresponding to the concentration of people at different income levels in any particular year. The poorest are in the basement, the richest are in the penthouse, and the majority somewhere in between. This book assesses how much movement there is between floors, the frequency of moves, whether the distance travelled has been changing over the last two decades, and whether basement dwellers ever reach the penthouse. Using the British Household Panel Survey, which has followed and interviewed the same people annually since 1991, it documents the patterns of income mobility and poverty dynamics in Britain, shows how they have changed over the last two decades, and explores the reasons why. It draws attention to the relationships between changes in income and changes in other aspects of people's lives - not only in their jobs, earnings, benefits, and credits, but also in the households within which they live (people marry and divorce; children are born). Trends over time are also related to changes in Britain's labour market and the reforms to the tax-benefit system introduced by the Labour government in the late-1990s.
What circumstances or behaviors turn poverty into a cycle that perpetuates across generations? The answer to this question carries especially important implications for the design and evaluation of policies and projects intended to reduce poverty. Yet a major challenge analysts and policymakers face in understanding poverty traps is the sheer number of mechanisms—not just financial, but also environmental, physical, and psychological—that may contribute to the persistence of poverty all over the world. The research in this volume explores the hypothesis that poverty is self-reinforcing because the equilibrium behaviors of the poor perpetuate low standards of living. Contributions explore the dynamic, complex processes by which households accumulate assets and increase their productivity and earnings potential, as well as the conditions under which some individuals, groups, and economies struggle to escape poverty. Investigating the full range of phenomena that combine to generate poverty traps—gleaned from behavioral, health, and resource economics as well as the sociology, psychology, and environmental literatures—chapters in this volume also present new evidence that highlights both the insights and the limits of a poverty trap lens. The framework introduced in this volume provides a robust platform for studying well-being dynamics in developing economies.
"That raising income levels alleviates poverty, and that economic growth can be more or less effective in doing so, is well known and has received renewed attention in the search for pro-poor growth. What is less well explored is the reverse channel: that poverty may, in fact, be part of the reason for a country's poor growth performance. This more elabborated view of the development process opens the door to the existence of vicious circles in which low growth results in high poverty and high poverty in turn results in low growth. Poverty Reduction and Growth is about the existence of these vicious circles in Latin America and the Caribbean about the ways and means to convert them into virtuous circles in which poverty reduction and high growth reinforce each other. Through its analysis of fresh data and the attention it pays to issues such as the persistent inequality in the region, the role played by various microdeterminants of income, and the potential existence of human capital underinvestment traps, this title should be a valuable contribution to the current regional debate on poverty and growth, a debate that is critical to the design of policies conducive to enhancing welfare in all is dimensions among the poor of Latin America and the Caribbean."