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Impact of Financial Crises on Poverty in the Developing World: An Empirical Approach

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  • Zlatko Nikoloski

Abstract

This article adopts a cross-country perspective to analyse the short term effects of currency, banking and debt crises on the poverty headcount ratio and the poverty gap (as measured by the World Bank), employing multivariate fixed-effects panel data analysis. The findings suggest that currency crises most significantly exacerbate both the incidence and depth of poverty in the short run. Banking crises are associated with an increase in the depth of poverty but not the incidence while there is no direct effect of sovereign debt crises. Given the low level of significance, the results are far from conclusive and offer only partial indications of the crises-poverty nexus.

Suggested Citation

  • Zlatko Nikoloski, 2011. "Impact of Financial Crises on Poverty in the Developing World: An Empirical Approach," Journal of Development Studies, Taylor & Francis Journals, vol. 47(11), pages 1757-1779.
    • Handle: RePEc:taf:jdevst:v:47:y:2011:i:11:p:1757-1779
    DOI: 10.1080/00220388.2011.561329
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    Cited by:

    1. Wu, Alfred M. & Ramesh, M., 2014. "Poverty Reduction in Urban China: The Impact of Cash Transfers," MPRA Paper 54358, University Library of Munich, Germany.
    2. Hyevin Koo & Jinhwan Oh, 2019. "Crisis and poverty: With reference to Latin America," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 22(3), pages 247-257, September.
    3. Sunny Kumar Singh & Chandan Kumar Jha, 2023. "Are financial development and financial stability complements or substitutes in poverty reduction?," The European Journal of Finance, Taylor & Francis Journals, vol. 29(17), pages 2001-2031, November.
    4. Bodea, Cristina & Houle, Christian & Kim, Hyunwoo, 2021. "Do financial crises increase income inequality?," World Development, Elsevier, vol. 147(C).
    5. Dina Chhorn, 2021. "Financial development, poverty, and human development in the Fintech age: a regional analysis of the Southeast Asian states," Post-Print hal-03572473, HAL.

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