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Poverty Reduction and Growth - Virtuous and Vicious Circles (Paperback)
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Poverty Reduction and Growth - Virtuous and Vicious Circles (Paperback)
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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 elaborated 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.
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