Growth Still Is Good for the Poor
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World Bank, Washington, DC
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Incomes in the poorest two quintiles on
average increase at the same rate as overall average
incomes. This is because, in a global dataset spanning 118
countries over the past four decades, changes in the share
of income of the poorest quintiles are generally small and
uncorrelated with changes in average income. The variation
in changes in quintile shares is also small relative to the
variation in growth in average incomes, implying that the
latter accounts for most of the variation in income growth
in the poorest quintiles. These findings hold across most
regions and time periods and when conditioning on a variety
of country-level factors that may matter for growth and
inequality changes. This evidence confirms the central
importance of economic growth for poverty reduction and
illustrates the difficulty of identifying specific
macroeconomic policies that are significantly associated
with the relative growth rates of those in the poorest quintiles.
Palabras clave
ABSOLUTE POVERTY, ADVANCED ECONOMIES, AGGREGATE GROWTH, AGGREGATE INCOME, AGRICULTURAL PRODUCTIVITY, AGRICULTURE, ANNUAL GROWTH, ANNUAL GROWTH RATE, AVERAGE ANNUAL, AVERAGE ANNUAL GROWTH, AVERAGE CHANGE, AVERAGE GROWTH, AVERAGE GROWTH RATE, AVERAGE INCOME, AVERAGE INCOME GROWTH, AVERAGE INCOMES, BENCHMARK, BLACK MARKET, BLACK MARKET PREMIUM, CAPITAL ACCOUNT, CIVIL LIBERTIES, CONSUMPTION GROWTH, COUNTRY LEVEL, COUNTRY VARIATION, COUNTRY-BY-COUNTRY BASIS, CROSS-COUNTRY INCOME, CROSS-COUNTRY PANEL, DATA AVAILABILITY, DEMOCRACY, DEPENDENT VARIABLE, DESCRIPTIVE STATISTICS, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPING WORLD, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICY, DEVELOPMENT RESEARCH, DISPOSABLE INCOME, DISTRIBUTION OF INCOME, ECONOMETRICS, ECONOMIC GROWTH, ECONOMIC POLICY, ECONOMIC REVIEW, ECONOMICS, EDUCATIONAL ATTAINMENT, EMERGING MARKETS, EMPIRICAL ANALYSIS, EMPIRICAL FINDINGS, EMPIRICAL GROWTH LITERATURE, EMPIRICAL LITERATURE, EMPIRICAL MODELS, EMPIRICAL RESULTS, ESTIMATED COEFFICIENT, EXCHANGE RATE, EXPECTED VALUE, EXPLANATORY POWER, EXPLANATORY VARIABLES, EXPORTS, EXTREME POVERTY, FINANCIAL DEPTH, FINANCIAL SUPPORT, FINANCIAL TRANSACTIONS, FIRST YEAR, GDP, GDP DEFLATOR, GINI COEFFICIENT, GLOBALIZATION, GOVERNMENT BUDGET, GOVERNMENT EXPENDITURE, GROWTH CONTEXT, GROWTH DETERMINANTS, GROWTH EMPIRICS, GROWTH EPISODES, GROWTH LITERATURE, GROWTH RATE, GROWTH RATES, GROWTH REGRESSIONS, HETEROSKEDASTICITY, HIGH INCOME COUNTRIES, HIGH URBANIZATION, HOUSEHOLD SURVEYS, INCOME DISTRIBUTION, INCOME DISTRIBUTIONS, INCOME GROWTH, INCOME INEQUALITY, INCOME QUINTILES, INCOME SHARE, INCOME STUDY, INDUSTRIAL COUNTRIES, INEQUALITY CHANGES, INEQUALITY MEASURE, INEQUALITY MEASURES, INFLATION, INFLATION RATE, LABOUR MARKET, LIFE EXPECTANCY, LIVING STANDARDS, LOCAL CURRENCY, LONG-TERM GROWTH, LORENZ CURVE, M2, MACRO POLICY, MACROECONOMIC POLICIES, MACROECONOMIC STABILITY, MACROECONOMICS, MARKET REGULATION, MEAN CHANGE, MEAN GROWTH, MEAN INCOME, MEAN INCOME GROWTH, MEAN INCOMES, MEASUREMENT ERROR, MICRO DATA, MONOPOLY, NATIONAL ACCOUNTS, NATIONAL INCOME, 0 HYPOTHESIS, OUTPUTS, PARTICULAR COUNTRIES, PER CAPITA CONSUMPTION, POLICY DISCUSSIONS, POLICY REFORMS, POLICY RESEARCH, POLITICAL RIGHTS, POLITICAL STABILITY, POPULATION GROWTH, POSITIVE CORRELATION, POVERTY DEBATE, POVERTY ESTIMATES, POVERTY LINE, POVERTY LINES, POVERTY REDUCTION, POWER PARITY, PRIMARY ENROLLMENT, PRIVATE CONSUMPTION, PRO-POOR, PUBLIC SECTOR, PUBLIC SPENDING, PURCHASING POWER, RAPID GROWTH, REDUCING INEQUALITY, REGRESSION RESULTS, RELATIVE IMPORTANCE, RELATIVE INCOMES, RISING INCOME INEQUALITY, RISING INEQUALITY, SECTOR EMPLOYMENT, SERIES DATA, SIGNIFICANT RELATIONSHIP, SOCIAL SPENDING, STANDARD DEVIATION, TAX, TAX SYSTEMS, TRADE OPENNESS, URBAN AREAS, VALUE ADDED, WEALTH