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Econ2D03 Assignment 2, Yang, Zhi Xing 0966680.pdf

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Department
Economics
Course Code
ECON 2D03
Professor
Rashid Khan

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Econ2D03YanLing, Zheng 1055775 Economics 2D03 Assignment #2 Student:Yang, Zhi Xing Student ID:0966680 Date:2012-05-14 Question #1: a) List three factors that led to dramatic improvement in life expectancy. Three factors that led to dramatic improvement in life expectancy are economic growth, which raised living standards and improved nutrition; public health and related initiatives, especially in the period from about 1870 to 1940; and modern medicine in the period from 1940 to the present. b) What are the demerits and merits of private financing of health care? Everything has two sides positive or negative and it is as well to look at both. On one hand, the private financing would reduce the relative burden on people with higher incomes. And it opens better access for those willing to pay and able to pay. In additional, private financing quite genuinely offers them “more, for less”, while offering the rest of the population “less, for more”. Private financing of health care at the same time make a phenomena appears in several countries, that is, the political systems have become increasingly sensitive to the priorities of the wealthy. On the other hand, the private payments may limit access by people with the lower incomes as the higher cost of it. The private insurance systems incur heavy administrative costs to identify relative risks and set corresponding premiums, to market policies and to adjudicate and pay individual claims. Those may lead to a less efficient and more expensive system overall, through increased overhead costs, weaker control over prices, and reduced potential for managing care patterns. Diversion of care from those with greatest needs to those with greatest resources results in a less effective distribution of services. Question #2: Econ2D03YanLing, Zheng 1055775 a) What is pro-poor growth? According to Ravallion, ‘pro-poor growth’ is any growth in mean income that benefits poor people. According to Kakwani, growth is poor-poor if it benefits the poor proportionately more than the non-poor; roughly speaking, if inequality falls. According to Osmani, simply reducing poverty cannot a sufficient condition for growth to be pro-poor. There has to be a bias in favor of the poor. b) In this context, summarize the views held by Ravallion, Kakwani and others? Ravallion’s view: any growth that reduces poverty is said to be pro-poor. Kakwani’s view: a growth process is pro-poor only when poor benefit proportionately more than the rich. According to Osmani’s view, pro-poor must refer to both concepts and we must identify a benchmark that will allow us to gauge the “pro-poorness” of growth. Therefore, pro-poor growth is a growth process that reduces poverty more than it does in the be
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