Globalization, the international poverty trap and chronic poverty in the least developed countries.

Abstract

After an introduction section, the rest of the paper is organised into five sections. Section 2 briefly describes poverty trends in the LDCs. Section 3 argues that these trends are the result of economic stagnation, by looking at growth trends in the LDCs and the nature of the long-term relationship between economic growth and extreme ($1-a-day) poverty in lower income countries. Section 4 sets out elements of the international poverty trap, which is particularly relevant for commodity-exporting LDCs, and section 5 identifies ways in which the current form of globalization is likely to be tightening rather than loosening the international poverty trap. The conclusion draws out some general policy implications, though the treatment is brief as doing justice to the issues would deserve another paper.

Citation

Globalization, the international poverty trap and chronic povertyin the least developed countries, presented at Staying Poor: Chronic Poverty and Development Policy, Institute for Development Policy and Management, University of Manchester, 7-9 April 2003. Chronic Poverty Research Centre (CPRC), Manchester, UK, 21 pp.

Globalization, the international poverty trap and chronic poverty in the least developed countries.

Published 1 January 2003