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W3 Global Poverty by Chandy.docx

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University of British Columbia
ECON 255
Ashok Kotwal

W3 Global Poverty by Chandy [Introduction] - difficulty to measure poverty and its rate - by the time it is published, it’s already outdated - the understanding of the poverty figure is very important [How Many Poor People Are There in the World and How Many Are There Likely in 2015?] - World Bank’s definition: those living on $1.25 per day - Trend:  Global Poverty for the period of 6 years is decreasing and it’s forecasted to increase in the next 4 years  The rate of decreasing is very fast  and this trend is seen to persist except for if economic crisis were to happen [In Which Countries and Regions is Poverty Falling?] - the rate of poverty in Sub-Saharan started to fall after 2005 but it has the slowest rate but in other nations, the rate of poverty is dropping significantly - most of the rate of decrease in the rate of poverty is accounted by China and India - in 2015, India will be the next home to poverty [The Drivers of Poverty Reduction] − Main driver: growth  East Asian: since 2003, there has been a constant growth except for 2009  nonetheless, the growth still beats developed nations. BUT  Asian Tigers: the growth doesn’t affect the statistic significantly  the case of Asian Tigers: their growth doesn’t impact the global poverty aggregate  the same thing in Africa − Which states as the driver of growth:  China and India: because they have the most population of the poor people  such as India, China, Pakistan, Indonesia and Nigeria − Impact of the food crisis on global poverty  Price hike for food in 2007-8 caused 100 mil of people to be under the international poverty line. BUT  The effect differs across countries  there is in China and India that it helps them to be out of poverty − Impact of financial crisis on global poverty  Great Recession of 2008 put 64 mil people in poverty [How is the Composition of Global Poverty Changing and Where Will Poverty be
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