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Ending Global Poverty: Why Money Isn't Enough

The Journal of economic perspectives, 2018-10, Vol.32 (4), p.173-200 [Peer Reviewed Journal]

Copyright © 2018 by the American Economic Association ;Copyright American Economic Association Fall 2018 ;ISSN: 0895-3309 ;EISSN: 1944-7965 ;DOI: 10.1257/jep.32.4.173

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  • Title:
    Ending Global Poverty: Why Money Isn't Enough
  • Author: Page, Lucy ; Pande, Rohini
  • Subjects: Capabilities ; Development and State Capacity ; Infrastructure ; International community ; Leverage ; Low income groups ; Money ; Politicians ; Poverty ; Power ; Social systems
  • Is Part Of: The Journal of economic perspectives, 2018-10, Vol.32 (4), p.173-200
  • Description: Between 1981 and 2013, the share of the global population living in extreme poverty fell by 34 percentage points. This paper argues that such rapid reductions will become increasingly hard to achieve for two reasons. First, the majority of the poor now live in middle-income countries where the benefits of growth have often been distributed selectively and unequally. Second, a reservoir of extreme poverty remains in low-income countries where growth is erratic and aid often fails to reach the poor. If the international community is to most effectively leverage available resources to end extreme poverty, it must ensure that its investments in institutions and physical infrastructure actually provide the poor the capabilities they need to craft an effective pathway out of poverty. We term the human and social systems that are required to form this pathway “invisible infrastructure” and argue that an effective domestic state is central to building this. By corollary, ending extreme poverty will require both expanding state capacity and giving the poor power to demand reforms they need by solving agency problems between citizens, politicians, and bureaucrats.
  • Publisher: Nashville: American Economic Association
  • Language: English
  • Identifier: ISSN: 0895-3309
    EISSN: 1944-7965
    DOI: 10.1257/jep.32.4.173
  • Source: AUTh Library subscriptions: ProQuest Central
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