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Macroeconomic Performance and Poverty Reduction

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Author Info
Anne Epaulard

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Abstract

This paper investigates the link between macroeconomic performance and the change in the poverty rate among 47 episodes of growth and 52 episodes of economic downturn in developing and transition economies. We show that, on average, (i) the greater the inequality, the lower the elasticity of poverty to growth, and the higher the mean income, the higher the elasticity; (ii) the country-specific elasticity is identical for episodes of economic growth and for episodes of economic downturn; and (iii) higher growth does not bring diminishing returns to poverty reduction. Moreover, we show that very high inflation is associated with a higher elasticity of the poverty rate to economic downturn, but at lower inflation, there is no relationship between inflation and the elasticity of the poverty rate to growth or recession. Trade openness and changes in the terms of trade explain part of the elasticity of the poverty rate to economic downturn.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 03/72.

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Length: 35 pages
Date of creation: 21 Apr 2003
Date of revision:
Handle: RePEc:imf:imfwpa:03/72

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Related research
Keywords: Economic growth ; Poverty ; Income distribution ;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Paul Cashin & Paolo Mauro & Catherine A. Pattillo & Ratna Sahay, 2001. "Macroeconomic Policies and Poverty Reduction: Stylized Facts and an Overview of Research," IMF Working Papers 01/135, International Monetary Fund.
  2. Kaufmann, Daniel & Kraay, Aart & Zoido-Lobaton, Pablo, 1999. "Governance matters," Policy Research Working Paper Series 2196, The World Bank. [Downloadable!]
  3. Gernot Doppelhofer & Ronald I. Miller & Xavier Sala-i-Martin, 2000. "Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (Bace) Approach," OECD Economics Department Working Papers 266, OECD, Economics Department. [Downloadable!]
    Other versions:
  4. Francisco Rodriguez & Dani Rodrik, 1999. "Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-national Evidence," Electronic Working Papers 99-003, University of Maryland, Department of Economics. [Downloadable!]
    Other versions:
  5. Ravallion, Martin, 1997. "Can high-inequality developing countries escape absolute poverty?," Economics Letters, Elsevier, vol. 56(1), pages 51-57, September. [Downloadable!] (restricted)
    Other versions:
  6. Dollar, David & Kraay, Aart, 2001. "Growth is good for the poor," Policy Research Working Paper Series 2587, The World Bank. [Downloadable!]
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  7. Charalambos G. Tsangarides & Dhaneshwar Ghura & Carlos Leite, 2002. "Is Growth Enough? Macroeconomic Policy and Poverty Reduction," IMF Working Papers 02/118, International Monetary Fund. [Downloadable!]
  8. Ravallion, Martin, 2003. "The debate on globalization, poverty, and inequality : why measurement matters," Policy Research Working Paper Series 3038, The World Bank. [Downloadable!]
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  9. Easterly, William & Fischer, Stanley, 2001. "Inflation and the Poor," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(2), pages 160-78, May.
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  10. Sanjeev Gupta & Erwin Tiongson & Marijn Verhoeven, 2001. "Public Spending on Health Care and Poor," IMF Working Papers 01/127, International Monetary Fund. [Downloadable!]
  11. Ravallion, Martin & Chen, Shaohua, 1997. "What Can New Survey Data Tell Us about Recent Changes in Distribution and Poverty?," World Bank Economic Review, Oxford University Press, vol. 11(2), pages 357-82, May.
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  12. Toshihiro Ichida & Gary G. Moser, 2001. "Economic Growth and Poverty Reduction in Sub-Saharan Africa," IMF Working Papers 01/112, International Monetary Fund. [Downloadable!]
  13. Ranis, Gustav & Stewart, Frances & Ramirez, Alejandro, 2000. "Economic Growth and Human Development," World Development, Elsevier, vol. 28(2), pages 197-219, February. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Vincenzo Lombardo, 2008. "Growth and inequality effects on poverty reduction in Italy," Discussion Papers 9_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy. [Downloadable!]
  2. Rolf Maier, 2005. "External Debt and Pro-Poor Growth," Macroeconomics 0504031, EconWPA. [Downloadable!]
  3. Kalwij, Adriaan & Verschoor, Arjan, 2005. "A Decomposition of Poverty Trends across Regions: The Role of Variation in the Income and Inequality Elasticities of Poverty," Working Papers RP2005/36, World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
  4. Christopher Crowe, 2004. "Inflation, Inequality and Social Conflict," CEP Discussion Papers dp0657, Centre for Economic Performance, LSE. [Downloadable!]
    Other versions:
  5. Lombardo, Vincenzo, 2008. "Growth and inequality effects on poverty reduction in Italy," MPRA Paper 14351, University Library of Munich, Germany. [Downloadable!]
  6. Kevin Joseph Carey & Sanjeev Gupta & Catherine A. Pattillo, 2005. "Sustaining Growth Accelerations and Pro-Poor Growth in Africa," IMF Working Papers 05/195, International Monetary Fund. [Downloadable!]
  7. Maier, Rolf, 2005. "External Debt and Pro-Poor Growth," Proceedings of the German Development Economics Conference, Kiel 2005 23, Verein für Socialpolitik, Research Committee Development Economics. [Downloadable!]
  8. Paul Lewin & Baptiste Gerbier, 2005. "Efectos de la Política de Estado Hondureña sobre la Seguridad Alimentaria," Public Economics 0506014, EconWPA. [Downloadable!]
  9. Mora-Alfaro, Jorge & Fernández-Alvarado, Luis Fernando, 2005. "Hacia la Seguridad Alimentaria y Nutricional en Mesoamérica. Estado de la Inseguridad Alimentaria y Nutricional y notas sobre políticas para su superación
    [To Food and Nutritional Security in Me    ," MPRA Paper 7422, University Library of Munich, Germany. [Downloadable!]
  10. Kalwij, A.S. & Verschoor, A., 2004. "How good is growth for the poor? : the role of the initial income distribution in regional diversity in poverty trends," Discussion Paper 115, Tilburg University, Center for Economic Research. [Downloadable!]
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