Why Don't We See Poverty Convergence? Martin Ravallion Ravallion, Martin

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Author
Ravallion, Martin
Appears In
American Economic Review
Subjects
Economic growth -- Evaluation; Consumption (Economics) -- Analysis; Poverty -- Research
Audience
Academic
Summary
Average living standards are converging among developing countries and faster growing economies see more progress against poverty. Yet we do not find poverty convergence; countries starting with higher poverty rates do not see higher proportionate rates of poverty reduction. The paper tries to explain why. Analysis of a new dataset suggests that, at given mean consumption, high initial poverty has an adverse effect on consumption growth and also makes growth less poverty-reducing. Thus, for many poor countries, the growth advantage of starting out with a low mean is lost due to a high incidence of poverty. (JEL D63, I31, I32, O15)
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http://trove.nla.gov.au/work/3300
Work ID
3300

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