Extreme poverty eradication: Conceptual evolution and policy challenges

Popovski, Vesselin and Stanchev, Krassen (2021) Extreme poverty eradication: Conceptual evolution and policy challenges. In: Fulfilling the sustainable development goals: On a quest for a sustainable world. Law, ethics and governance . Taylor and Francis, Oxon, pp. 37-54. ISBN 9781003144274

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The Poverty Reduction and Growth Facility of the IMF, tasked with making the objectives of poverty reduction and growth more central to lending operations in the poorest countries, operated from 1999 to 2009, and extended loans to 78 African and Asian countries, including four ex-USSR states. There is one regularity evident from the experience of ex-communist countries: The faster economies liberalize, the faster the economic growth and poverty reduction. The trend of (non-extreme) poverty reduction was reversed in some countries even before the COVID-19 recession, irrespective of their economic potential. As Duflo and Benerjee predicted in Poor Economics, relying on general economic growth (the old Washington Consensus) for poverty reduction, turned out to be a low-hanging fruit. Still, the immediate future of poverty reduction remains at risk of deterioration due to the combined impact of the pandemic and the legacy of underdevelopment and missing safety nets.

Item Type: Book Section
Keywords: Poverty reduction and growth | IMF
Subjects: Social Sciences and humanities > Economics, Econometrics and Finance > Economics
Social Sciences and humanities > Social Sciences > Social Sciences (General)
JGU School/Centre: Jindal Global Law School
Depositing User: Mr. Syed Anas
Date Deposited: 26 Jan 2022 11:25
Last Modified: 26 Jan 2022 14:03
Official URL: https://www.taylorfrancis.com/chapters/edit/10.432...
URI: https://pure.jgu.edu.in/id/eprint/870


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