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Is the Millennium Development Goal on Poverty Still Achievable? The Role of Institutions, Finance and Openness

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  • Katsushi Imai
  • Raghav Gaiha
  • Ganesh Thapa

Abstract

Drawing upon new World Bank poverty data, the analysis examines the feasibility of attaining the Millennium Development Goal of halving extreme poverty (MDG1) when the interrelationships between finance, institutions, trade liberalization, growth and poverty are taken into account. The authors' econometric results suggest a slowing down of poverty reduction in the more recent years since 2000. They also confirm: the role of better institutions in income growth, poverty reduction, trade openness and financial development; the role of financial development in economic growth; and the positive effect of capital liberalization on financial development. Simulations for different regions show that MDG1 is attainable in most regions if the historical growth rate is maintained over 2006-15. However, improvements in institutional quality are crucial for halving extreme poverty in sub-Saharan Africa.

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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal Oxford Development Studies.

Volume (Year): 38 (2010)
Issue (Month): 3 ()
Pages: 309-337
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:taf:oxdevs:v:38:y:2010:i:3:p:309-337

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Cited by:
  1. Katsushi S. Imai & Raghav Gaiha & Ganesh Thapa, 2011. "Role of Agriculture in Achieving MDG 1 in Asia and the Pacific Region," Discussion Paper Series DP2011-01, Research Institute for Economics & Business Administration, Kobe University.
  2. Gang, Ira N. & Sen, Kunal & Yun, Myeong-Su, 2012. "Is Caste Destiny? Occupational Diversification among Dalits in Rural India," IZA Discussion Papers 6295, Institute for the Study of Labor (IZA).
  3. Katsushi S. Imai & Raghav Gaiha & Abdilahi Ali & Nidhi Kaicker, 2011. "Remittances, Growth and Poverty: New Evidence from Asian Countries," Discussion Paper Series DP2011-30, Research Institute for Economics & Business Administration, Kobe University.
  4. Ugur, Mehmet & Dasgupta, Nandini, 2011. "Corruption and economic growth: A meta-analysis of the evidence on low-income countries and beyond," MPRA Paper 31226, University Library of Munich, Germany, revised 31 May 2011.
  5. Katsushi S. Imai & Raghav Gaiha & Ganesh Thapa & Samuel Kobina Annim & Aditi Gupta, 2012. "Financial Performance of Microfinance Institutions-A Macroeconomic and Institutional Perspective," Discussion Paper Series DP2012-04, Research Institute for Economics & Business Administration, Kobe University.
  6. S. Annim & S. Mariwah & J. Sebu, 2012. "Spatial inequality and household poverty in Ghana," Brooks World Poverty Institute Working Paper Series 16112, BWPI, The University of Manchester.
  7. Raghav Gaiha & Samuel Annim, 2010. "Agriculture, GDP and Prospects of MDG 1 in Lao PDR," The School of Economics Discussion Paper Series 1012, Economics, The University of Manchester.

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