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Beyond Ending Poverty

Author: Shahidur R. Khandker

Publisher: World Bank Publications

Published: 2016-07-20

Total Pages: 336

ISBN-13: 1464808953

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The recent past has witnessed phenomenal growth in MFIs around the world. Today as many as 200 million people are beneficiaries of microfinance. Given its worldwide attention, microfinance has received serious criticism, including the argument that it is a fad with less-than-expected benefits for the poor. Surely, microfinance is not without any pitfalls. Yet the premise of improving access to financial services for consumption smoothing by the poor has never been a subject of controversy. What has been controversial is whether microfinance can alleviate poverty. That the poor lack an effective and affordable alternative financing mechanism to support income generation does not necessarily mean microfinance is a panacea since it involves entrepreneurial skills, which many poor lack. It is little wonder that studies evaluating the benefits of microfinance have produced conflicting results. Of course, study findings are contextual: They are positive in conducive environments and less so in unfavorable ones. Microfinance must be distinguished from anti-poverty schemes (e.g., conditional cash transfers) because benefits from microfinance-supported activities, which involve participants’ entrepreneurial skills and ability, take time to realize. This book using household long panel survey of 1991/92-2010/11 from Bangladesh addresses some of criticisms—including whether pushing microfinance has made it redundant as a tool for poverty reduction—while investigating whether it still matters for the poor after two decades of extensive growth. The book’s findings confirm the positive effects of continued borrowing from a microfinance program. Despite a manifold increase in microfinance borrowing, loan recovery has not declined and long-term borrowers are not trapped in poverty or debt. Interest rates charged by MFIs are not too high for realizing returns on investment, although the MFIs have scope for lowering them. The book is expected to contribute to the ongoing debate on the cost-effectiveness of microfinance as a tool for inclusive growth and development. It is expected to fill knowledge gaps in understanding the various virtues of microfinance against its portrayal as having drifted from its original poverty-reduction mission.

Book Synopsis Beyond Ending Poverty by : Shahidur R. Khandker

Download or read book Beyond Ending Poverty written by Shahidur R. Khandker and published by World Bank Publications. This book was released on 2016-07-20 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent past has witnessed phenomenal growth in MFIs around the world. Today as many as 200 million people are beneficiaries of microfinance. Given its worldwide attention, microfinance has received serious criticism, including the argument that it is a fad with less-than-expected benefits for the poor. Surely, microfinance is not without any pitfalls. Yet the premise of improving access to financial services for consumption smoothing by the poor has never been a subject of controversy. What has been controversial is whether microfinance can alleviate poverty. That the poor lack an effective and affordable alternative financing mechanism to support income generation does not necessarily mean microfinance is a panacea since it involves entrepreneurial skills, which many poor lack. It is little wonder that studies evaluating the benefits of microfinance have produced conflicting results. Of course, study findings are contextual: They are positive in conducive environments and less so in unfavorable ones. Microfinance must be distinguished from anti-poverty schemes (e.g., conditional cash transfers) because benefits from microfinance-supported activities, which involve participants’ entrepreneurial skills and ability, take time to realize. This book using household long panel survey of 1991/92-2010/11 from Bangladesh addresses some of criticisms—including whether pushing microfinance has made it redundant as a tool for poverty reduction—while investigating whether it still matters for the poor after two decades of extensive growth. The book’s findings confirm the positive effects of continued borrowing from a microfinance program. Despite a manifold increase in microfinance borrowing, loan recovery has not declined and long-term borrowers are not trapped in poverty or debt. Interest rates charged by MFIs are not too high for realizing returns on investment, although the MFIs have scope for lowering them. The book is expected to contribute to the ongoing debate on the cost-effectiveness of microfinance as a tool for inclusive growth and development. It is expected to fill knowledge gaps in understanding the various virtues of microfinance against its portrayal as having drifted from its original poverty-reduction mission.

A Measured Approach to Ending Poverty and Boosting Shared Prosperity

Author: Dean Jolliffe

Publisher: World Bank Publications

Published: 2014-10-07

Total Pages: 299

ISBN-13: 1464803617

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"This Policy Research Report was prepared by the Development Economics Research Group of the World Bank by a team led by Dean Jolliffe and Peter Lanjouw"--Page xiii.

Book Synopsis A Measured Approach to Ending Poverty and Boosting Shared Prosperity by : Dean Jolliffe

Download or read book A Measured Approach to Ending Poverty and Boosting Shared Prosperity written by Dean Jolliffe and published by World Bank Publications. This book was released on 2014-10-07 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This Policy Research Report was prepared by the Development Economics Research Group of the World Bank by a team led by Dean Jolliffe and Peter Lanjouw"--Page xiii.

Global Monitoring Report 2014/2015

Author: World Bank;International Monetary Fund

Publisher: World Bank Publications

Published: 2014-10-21

Total Pages: 0

ISBN-13: 9781464803369

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The Global Monitoring Report 2014/2015: Ending Poverty and Sharing Prosperity was written jointly by the World Bank Group (WBG) and the International Monetary Fund, with substantive inputs from the Organisation for Economic Co-operation and Development. This year's report details, for the first time, progress toward the WBG's twin goals of ending extreme poverty by 2030 and promoting shared prosperity and assesses the state of policies and institutions that are important for achieving them. The report continues to monitor progress on the Millennium Development Goals (MDGs). Also for the first time, the report includes information about high-income countries. It finds that while gaps in living standards have been closing in many countries, the well-being of households in the bottom 40 percent, as measured by the non-income MDGs such as access to education and health services, remains below that of households in the top 60 percent. The focus of this year's report is on three elements needed to make growth more inclusive and sustainable: investment in human capital that favors the poor, the best use of safety nets, and steps to ensure the environmental sustainability of economic growth. These three elements are imperative to all countries' development strategies, and are also fundamental to global efforts to achieve the twin goals, the MDGs, and the Sustainable Development Goals that will succeed the MDGs. Global Monitoring Report 2014/2015 was prepared in collaboration with regional development banks and other multilateral partners.

Book Synopsis Global Monitoring Report 2014/2015 by : World Bank;International Monetary Fund

Download or read book Global Monitoring Report 2014/2015 written by World Bank;International Monetary Fund and published by World Bank Publications. This book was released on 2014-10-21 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Monitoring Report 2014/2015: Ending Poverty and Sharing Prosperity was written jointly by the World Bank Group (WBG) and the International Monetary Fund, with substantive inputs from the Organisation for Economic Co-operation and Development. This year's report details, for the first time, progress toward the WBG's twin goals of ending extreme poverty by 2030 and promoting shared prosperity and assesses the state of policies and institutions that are important for achieving them. The report continues to monitor progress on the Millennium Development Goals (MDGs). Also for the first time, the report includes information about high-income countries. It finds that while gaps in living standards have been closing in many countries, the well-being of households in the bottom 40 percent, as measured by the non-income MDGs such as access to education and health services, remains below that of households in the top 60 percent. The focus of this year's report is on three elements needed to make growth more inclusive and sustainable: investment in human capital that favors the poor, the best use of safety nets, and steps to ensure the environmental sustainability of economic growth. These three elements are imperative to all countries' development strategies, and are also fundamental to global efforts to achieve the twin goals, the MDGs, and the Sustainable Development Goals that will succeed the MDGs. Global Monitoring Report 2014/2015 was prepared in collaboration with regional development banks and other multilateral partners.

Dead Aid

Author: Dambisa Moyo

Publisher: Macmillan

Published: 2009-03-17

Total Pages: 209

ISBN-13: 0374139563

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Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world's poorest countries.

Book Synopsis Dead Aid by : Dambisa Moyo

Download or read book Dead Aid written by Dambisa Moyo and published by Macmillan. This book was released on 2009-03-17 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world's poorest countries.

Psychology, Poverty, and the End of Social Exclusion

Author: Laura Smith

Publisher: Teachers College Press

Published: 2015-04-24

Total Pages: 193

ISBN-13: 0807771813

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Laura Smith argues that if there is any segment of society that should be concerned with the impact of classism and poverty, it is those within the “helping professions”—people who have built their careers around understanding and facilitating human emotional well-being. In this groundbreaking book, Smith charts the ebbs and flows of psychology’s consideration of poor clients, and then points to promising new approaches to serving poor communities that go beyond remediation, sympathy, and charity. Including the author’s own experiences as a psychologist in a poor community, this inspiring book: Shows practitioners and educators how to implement considerations of social class and poverty within mental health theory and practice.Addresses poverty from a true social class perspective, beginning with questions of power and oppression in health settings.Presents a view of poverty that emerges from the words of the poor through their participation in interviews and qualitative research.Offers a message of hope that poor clients and psychologists can reinvent their relationship through working together in ways that are liberating for all parties. Laura Smith is an assistant professor in the department of Counseling and Clinical Psychology at Teachers College, Columbia University. “Gripping, heartbreaking, and ultimately hopeful, [this]is an impassioned charge to mental health professionals to advocate in truly helpful ways for America’s poor and working-class citizens . . . beautifully written and structured in a way that provides solid information with digestible doses of in-your-face depictions of poverty . . . Smith’s appeal to the healing profession is a gift. She envisions a class-inclusive society that shares common resources, opportunities, institutions, and hope. Smith’s book is a beautiful, chilling treatise calling for social change, mapping the road that will ultimately lead to that change. . . . This inspired book . . . is not meant to be purchased, perused, and placed on a shelf. It is meant to be lived. Are you in?” —PsycCRITIQUES magazine “Smith does not invite you to examine the life of the poor; she forces you to do it. And after you do it, you cannot help but question your practice. Whether you are a psychologist, a social worker, a counselor, a nurse, a psychiatrist, a teacher, or a community organizer, you will gain insights about the lives of the people you work with.” —From the Foreword by Isaac Prilleltensky, Dean, School of Education, University of Miami, Florida “This groundbreaking book challenges practitioners and educators to rethink dominant understandings of social class and poverty, and it offers concrete strategies for addressing class-based inequities. Psychology, Poverty, and the End of Social Exclusion should be required reading for anyone interested in economic and social justice.” —Heather Bullock, University of California, Santa Cruz

Book Synopsis Psychology, Poverty, and the End of Social Exclusion by : Laura Smith

Download or read book Psychology, Poverty, and the End of Social Exclusion written by Laura Smith and published by Teachers College Press. This book was released on 2015-04-24 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: Laura Smith argues that if there is any segment of society that should be concerned with the impact of classism and poverty, it is those within the “helping professions”—people who have built their careers around understanding and facilitating human emotional well-being. In this groundbreaking book, Smith charts the ebbs and flows of psychology’s consideration of poor clients, and then points to promising new approaches to serving poor communities that go beyond remediation, sympathy, and charity. Including the author’s own experiences as a psychologist in a poor community, this inspiring book: Shows practitioners and educators how to implement considerations of social class and poverty within mental health theory and practice.Addresses poverty from a true social class perspective, beginning with questions of power and oppression in health settings.Presents a view of poverty that emerges from the words of the poor through their participation in interviews and qualitative research.Offers a message of hope that poor clients and psychologists can reinvent their relationship through working together in ways that are liberating for all parties. Laura Smith is an assistant professor in the department of Counseling and Clinical Psychology at Teachers College, Columbia University. “Gripping, heartbreaking, and ultimately hopeful, [this]is an impassioned charge to mental health professionals to advocate in truly helpful ways for America’s poor and working-class citizens . . . beautifully written and structured in a way that provides solid information with digestible doses of in-your-face depictions of poverty . . . Smith’s appeal to the healing profession is a gift. She envisions a class-inclusive society that shares common resources, opportunities, institutions, and hope. Smith’s book is a beautiful, chilling treatise calling for social change, mapping the road that will ultimately lead to that change. . . . This inspired book . . . is not meant to be purchased, perused, and placed on a shelf. It is meant to be lived. Are you in?” —PsycCRITIQUES magazine “Smith does not invite you to examine the life of the poor; she forces you to do it. And after you do it, you cannot help but question your practice. Whether you are a psychologist, a social worker, a counselor, a nurse, a psychiatrist, a teacher, or a community organizer, you will gain insights about the lives of the people you work with.” —From the Foreword by Isaac Prilleltensky, Dean, School of Education, University of Miami, Florida “This groundbreaking book challenges practitioners and educators to rethink dominant understandings of social class and poverty, and it offers concrete strategies for addressing class-based inequities. Psychology, Poverty, and the End of Social Exclusion should be required reading for anyone interested in economic and social justice.” —Heather Bullock, University of California, Santa Cruz

The End of Poverty

Author: Jeffrey D. Sachs

Publisher: Penguin

Published: 2006-02-28

Total Pages: 465

ISBN-13: 0143036580

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"Book and man are brilliant, passionate, optimistic and impatient . . . Outstanding." —The Economist The landmark exploration of economic prosperity and how the world can escape from extreme poverty for the world's poorest citizens, from one of the world's most renowned economists Hailed by Time as one of the world's hundred most influential people, Jeffrey D. Sachs is renowned for his work around the globe advising economies in crisis. Now a classic of its genre, The End of Poverty distills more than thirty years of experience to offer a uniquely informed vision of the steps that can transform impoverished countries into prosperous ones. Marrying vivid storytelling with rigorous analysis, Sachs lays out a clear conceptual map of the world economy. Explaining his own work in Bolivia, Russia, India, China, and Africa, he offers an integrated set of solutions to the interwoven economic, political, environmental, and social problems that challenge the world's poorest countries. Ten years after its initial publication, The End of Poverty remains an indispensible and influential work. In this 10th anniversary edition, Sachs presents an extensive new foreword assessing the progress of the past decade, the work that remains to be done, and how each of us can help. He also looks ahead across the next fifteen years to 2030, the United Nations' target date for ending extreme poverty, offering new insights and recommendations.

Book Synopsis The End of Poverty by : Jeffrey D. Sachs

Download or read book The End of Poverty written by Jeffrey D. Sachs and published by Penguin. This book was released on 2006-02-28 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Book and man are brilliant, passionate, optimistic and impatient . . . Outstanding." —The Economist The landmark exploration of economic prosperity and how the world can escape from extreme poverty for the world's poorest citizens, from one of the world's most renowned economists Hailed by Time as one of the world's hundred most influential people, Jeffrey D. Sachs is renowned for his work around the globe advising economies in crisis. Now a classic of its genre, The End of Poverty distills more than thirty years of experience to offer a uniquely informed vision of the steps that can transform impoverished countries into prosperous ones. Marrying vivid storytelling with rigorous analysis, Sachs lays out a clear conceptual map of the world economy. Explaining his own work in Bolivia, Russia, India, China, and Africa, he offers an integrated set of solutions to the interwoven economic, political, environmental, and social problems that challenge the world's poorest countries. Ten years after its initial publication, The End of Poverty remains an indispensible and influential work. In this 10th anniversary edition, Sachs presents an extensive new foreword assessing the progress of the past decade, the work that remains to be done, and how each of us can help. He also looks ahead across the next fifteen years to 2030, the United Nations' target date for ending extreme poverty, offering new insights and recommendations.

Sustainable Impact

Author: Laina Greene

Publisher: Partridge Publishing Singapore

Published: 2017-05-05

Total Pages: 184

ISBN-13: 154374088X

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The world has changed rapidly over the past decades. These changes havemade eradicating global poverty more challenging than ever.In a comprehensive guidebook,Laina Raveendran Greene, Audrey Tan and Lizzy Hawkinsthreepassionate female social entrepreneursshare their thoughtsonthefeminisation of poverty where women end upasvictimsand show that when enabled, womencan take on the powerful role of changeagents. They challenge us tomove beyond the unconscious bias of seeing women as capable of receiving only microfinanceloansto viewingwomenascapable of receiving larger funding,and presentdatathatshowswomen are good investments. The authors lead us on a journey of hope where they encourage us to solve problems empathetically; embrace grassroots human-centric solutions; initiatesystemicchange; support a world of purpose-driven businesses, and help build a newparadigmof capitalism where people and purpose are more important than a sole focus on profit.Incorporated in the bookis a careful examination of the old models of charity and donations juxtaposed against the promise that purpose-driven social enterprises hold in eradicating poverty. Sustainable Impact: How Women Are Key to Ending Povertyoffers eye-opening insight and practical advicethatseeks tomotivate everyone to help make a better world and do our part to eliminate global poverty.

Book Synopsis Sustainable Impact by : Laina Greene

Download or read book Sustainable Impact written by Laina Greene and published by Partridge Publishing Singapore. This book was released on 2017-05-05 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world has changed rapidly over the past decades. These changes havemade eradicating global poverty more challenging than ever.In a comprehensive guidebook,Laina Raveendran Greene, Audrey Tan and Lizzy Hawkinsthreepassionate female social entrepreneursshare their thoughtsonthefeminisation of poverty where women end upasvictimsand show that when enabled, womencan take on the powerful role of changeagents. They challenge us tomove beyond the unconscious bias of seeing women as capable of receiving only microfinanceloansto viewingwomenascapable of receiving larger funding,and presentdatathatshowswomen are good investments. The authors lead us on a journey of hope where they encourage us to solve problems empathetically; embrace grassroots human-centric solutions; initiatesystemicchange; support a world of purpose-driven businesses, and help build a newparadigmof capitalism where people and purpose are more important than a sole focus on profit.Incorporated in the bookis a careful examination of the old models of charity and donations juxtaposed against the promise that purpose-driven social enterprises hold in eradicating poverty. Sustainable Impact: How Women Are Key to Ending Povertyoffers eye-opening insight and practical advicethatseeks tomotivate everyone to help make a better world and do our part to eliminate global poverty.

A Measured Approach to Ending Poverty and Boosting Shared Prosperity

Author: World Bank

Publisher: World Bank Publications

Published: 2014-10-07

Total Pages: 299

ISBN-13: 1464803625

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In 2013, the World Bank Group adopted two new goals to guide its work: ending extreme poverty and boosting shared prosperity. More specifically, the goals are to reduce extreme poverty in the world to less than 3 percent by 2030, and to foster income growth of the bottom 40 percent of the population in each country. While poverty reduction has been a mainstay of the World Bank s mission for decades, the Bank has now set a specific goal and timetable, and for the first time, the Bank has explicitly included a goal linked to ensuring that growth is shared by all. The discussion until now has centered primarily on articulating the new goals. This report, the latest in World Bank s Policy Research Report series, goes beyond that and lays out their conceptual underpinnings, discusses their relative strengths and weaknesses by contrasting them with alternative indicators, and proposes empirical approaches and requirements to track progress towards the goals. The report makes clear that the challenges posed by the World Bank Group s new stance extend not just to the pursuit of these goals but, indeed, to their very definition and empirical content. The report also argues that an improved data infrastructure, consisting of many elements including the collection of more and better survey data, is critical to ensure that progress towards these goals can be measured, and policies to help achieve them can be identified and prioritized.

Book Synopsis A Measured Approach to Ending Poverty and Boosting Shared Prosperity by : World Bank

Download or read book A Measured Approach to Ending Poverty and Boosting Shared Prosperity written by World Bank and published by World Bank Publications. This book was released on 2014-10-07 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2013, the World Bank Group adopted two new goals to guide its work: ending extreme poverty and boosting shared prosperity. More specifically, the goals are to reduce extreme poverty in the world to less than 3 percent by 2030, and to foster income growth of the bottom 40 percent of the population in each country. While poverty reduction has been a mainstay of the World Bank s mission for decades, the Bank has now set a specific goal and timetable, and for the first time, the Bank has explicitly included a goal linked to ensuring that growth is shared by all. The discussion until now has centered primarily on articulating the new goals. This report, the latest in World Bank s Policy Research Report series, goes beyond that and lays out their conceptual underpinnings, discusses their relative strengths and weaknesses by contrasting them with alternative indicators, and proposes empirical approaches and requirements to track progress towards the goals. The report makes clear that the challenges posed by the World Bank Group s new stance extend not just to the pursuit of these goals but, indeed, to their very definition and empirical content. The report also argues that an improved data infrastructure, consisting of many elements including the collection of more and better survey data, is critical to ensure that progress towards these goals can be measured, and policies to help achieve them can be identified and prioritized.

Beyond Poverty and Affluence

Author: B. Goudzwaard

Publisher: University of Toronto Press

Published: 1995-01-01

Total Pages: 194

ISBN-13: 9780802076373

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Beyond Poverty and Affluence argues that, like a virus which has developed an immunity to the cure, the problems of poverty, environmental degeneration, and unemployment today successfully resist the remedy of growth in industrial production. Bob Goudzwaard and Harry de Lange demonstrate that over the last several decades the solutions used by industrialized nations either have not helped or have dramatically exacerbated these problems. Instead, these predicaments have become structural features of today's economic practice. The authors formulate an alternative, which they call the economics of care, and propose a twelve-step program for economic recovery in Canada. Goudzwaard and de Lange contend that poverty, environmental damage, and unemployment have a common origin: they emerge from structural flaws in classical and contemporary neoclassical economic thought, including that of Adam Smith and Karl Marx. Drawing on thinkers as diverse as RenT Girard and Hannah Arendt, on numerous Canadian sources, and on their own Christian tradition, the authors propose a `pre-care' economy, which places care needs first on its list of priorities and only then addresses the scope of production, rather than a 'post-care' economy, which pursues maximum consumption and production above all else. They also describe in detail structural changes the Canadian economy will need to undergo to become an economy of pre-care. Included in their discussion is an assessment of the progress of `sustainable development' in Canada, including the work of the federal and provincial roundtables on environment and economy, and a proposed framework for setting Canadian government finances on a durable foundation. The twelve economic proposals the authors put forward deal with such issues as international currency creation, the environment, the foundation of labour/management relations, the funding of social programs, wage and salary development, the scope of production and technological development, the structure of economic decision-making, the direction of government funding, and the dropping of trade barriers in North America and Europe.

Book Synopsis Beyond Poverty and Affluence by : B. Goudzwaard

Download or read book Beyond Poverty and Affluence written by B. Goudzwaard and published by University of Toronto Press. This book was released on 1995-01-01 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beyond Poverty and Affluence argues that, like a virus which has developed an immunity to the cure, the problems of poverty, environmental degeneration, and unemployment today successfully resist the remedy of growth in industrial production. Bob Goudzwaard and Harry de Lange demonstrate that over the last several decades the solutions used by industrialized nations either have not helped or have dramatically exacerbated these problems. Instead, these predicaments have become structural features of today's economic practice. The authors formulate an alternative, which they call the economics of care, and propose a twelve-step program for economic recovery in Canada. Goudzwaard and de Lange contend that poverty, environmental damage, and unemployment have a common origin: they emerge from structural flaws in classical and contemporary neoclassical economic thought, including that of Adam Smith and Karl Marx. Drawing on thinkers as diverse as RenT Girard and Hannah Arendt, on numerous Canadian sources, and on their own Christian tradition, the authors propose a `pre-care' economy, which places care needs first on its list of priorities and only then addresses the scope of production, rather than a 'post-care' economy, which pursues maximum consumption and production above all else. They also describe in detail structural changes the Canadian economy will need to undergo to become an economy of pre-care. Included in their discussion is an assessment of the progress of `sustainable development' in Canada, including the work of the federal and provincial roundtables on environment and economy, and a proposed framework for setting Canadian government finances on a durable foundation. The twelve economic proposals the authors put forward deal with such issues as international currency creation, the environment, the foundation of labour/management relations, the funding of social programs, wage and salary development, the scope of production and technological development, the structure of economic decision-making, the direction of government funding, and the dropping of trade barriers in North America and Europe.

Poverty and Shared Prosperity 2020

Author: World Bank

Publisher: World Bank Publications

Published: 2020-12-23

Total Pages: 288

ISBN-13: 1464816034

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This edition of the biennial Poverty and Shared Prosperity report brings sobering news. The COVID-19 (coronavirus) pandemic and its associated economic crisis, compounded by the effects of armed conflict and climate change, are reversing hard-won gains in poverty reduction and shared prosperity. The fight to end poverty has suffered its worst setback in decades after more than 20 years of progress. The goal of ending extreme poverty by 2030, already at risk before the pandemic, is now beyond reach in the absence of swift, significant, and sustained action, and the objective of advancing shared prosperity—raising the incomes of the poorest 40 percent in each country—will be much more difficult. Poverty and Shared Prosperity 2020: Reversals of Fortune presents new estimates of COVID-19's impacts on global poverty and shared prosperity. Harnessing fresh data from frontline surveys and economic simulations, it shows that pandemic-related job losses and deprivation worldwide are hitting already poor and vulnerable people hard, while also shifting the profile of global poverty to include millions of 'new poor.' Original analysis included in the report shows that the new poor are more urban, better educated, and less likely to work in agriculture than those living in extreme poverty before COVID-19. It also gives new estimates of the impact of conflict and climate change, and how they overlap. These results are important for targeting policies to safeguard lives and livelihoods. It shows how some countries are acting to reverse the crisis, protect those most vulnerable, and promote a resilient recovery. These findings call for urgent action. If the global response fails the world's poorest and most vulnerable people now, the losses they have experienced to date will be minimal compared with what lies ahead. Success over the long term will require much more than stopping COVID-19. As efforts to curb the disease and its economic fallout intensify, the interrupted development agenda in low- and middle-income countries must be put back on track. Recovering from today's reversals of fortune requires tackling the economic crisis unleashed by COVID-19 with a commitment proportional to the crisis itself. In doing so, countries can also plant the seeds for dealing with the long-term development challenges of promoting inclusive growth, capital accumulation, and risk prevention—particularly the risks of conflict and climate change.

Book Synopsis Poverty and Shared Prosperity 2020 by : World Bank

Download or read book Poverty and Shared Prosperity 2020 written by World Bank and published by World Bank Publications. This book was released on 2020-12-23 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the biennial Poverty and Shared Prosperity report brings sobering news. The COVID-19 (coronavirus) pandemic and its associated economic crisis, compounded by the effects of armed conflict and climate change, are reversing hard-won gains in poverty reduction and shared prosperity. The fight to end poverty has suffered its worst setback in decades after more than 20 years of progress. The goal of ending extreme poverty by 2030, already at risk before the pandemic, is now beyond reach in the absence of swift, significant, and sustained action, and the objective of advancing shared prosperity—raising the incomes of the poorest 40 percent in each country—will be much more difficult. Poverty and Shared Prosperity 2020: Reversals of Fortune presents new estimates of COVID-19's impacts on global poverty and shared prosperity. Harnessing fresh data from frontline surveys and economic simulations, it shows that pandemic-related job losses and deprivation worldwide are hitting already poor and vulnerable people hard, while also shifting the profile of global poverty to include millions of 'new poor.' Original analysis included in the report shows that the new poor are more urban, better educated, and less likely to work in agriculture than those living in extreme poverty before COVID-19. It also gives new estimates of the impact of conflict and climate change, and how they overlap. These results are important for targeting policies to safeguard lives and livelihoods. It shows how some countries are acting to reverse the crisis, protect those most vulnerable, and promote a resilient recovery. These findings call for urgent action. If the global response fails the world's poorest and most vulnerable people now, the losses they have experienced to date will be minimal compared with what lies ahead. Success over the long term will require much more than stopping COVID-19. As efforts to curb the disease and its economic fallout intensify, the interrupted development agenda in low- and middle-income countries must be put back on track. Recovering from today's reversals of fortune requires tackling the economic crisis unleashed by COVID-19 with a commitment proportional to the crisis itself. In doing so, countries can also plant the seeds for dealing with the long-term development challenges of promoting inclusive growth, capital accumulation, and risk prevention—particularly the risks of conflict and climate change.