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Growth, Inequality, and Poverty - Prospects for Pro-poor Economic Development (Hardcover, New)
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Growth, Inequality, and Poverty - Prospects for Pro-poor Economic Development (Hardcover, New)
Series: WIDER Studies in Development Economics
Expected to ship within 10 - 15 working days
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The relationship between growth, inequality, and poverty lies at
the heart of development economics. This volume draws together many
of the most important recent contributions to the controversies
surrounding this topic. Some of the chapters help explain why there
is profound disagreement on crucial issues of growth, poverty and
inequality within academic circles, and among organizations and
various groups active in the development field. Another central
theme is the cross-country evidence on the relationship between
growth and poverty, and the extent to which it is valid to draw
policy conclusions from this empirical evidence. The volume also
shows how new microeconomic techniques such as poverty maps and
microsimulation models can be used to improve poverty analysis and
the design of pro-poor policies. The overall conclusion points to
the need for diverse strategies towards growth and poverty, rather
than simple blanket policy rules. Initial conditions, specific
country structures, and time horizons all play a significant role.
Initial conditions affect the speed with which growth reduces
poverty and can also determine whether policies such as trade
liberalization have a pro-poor or an anti-poor outcome. Improved
education is valuable in itself, and also contributes to poverty
reduction; but its effect on inequality depends on supply and
demand factors, which differ significantly across countries.
Likewise, the quantitative impact on poverty of redistribution from
the rich to the poor vis-a-vis an increase in total national income
can vary greatly across countries. Hence the need for creative
approaches to poverty which take full account of the specific
circumstances of individual nations and which assign a central role
to inequality analysis in the discussion of poverty-alleviation
policies.
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