John Weeks () (Professor Emeritus, School of Oriental and African Studies, University of London)
Abstract
GLOBAL CRISIS AND POVERTY PREVENTION Most recent statistics indicate that the global financial crisis will cause a fall in export earnings in Sierra Leone of approximately fifteen percent in 2009 compared to 2008. A regression-based model estimates that this decline in exports earnings could result in a fall in national income of almost ten percent. Based on the income distribution in the 2003 household survey, a ten percent decline in national income would increase poverty by twelve percent of the population, or about 600,000 people. A fiscal stimulus of two percent of GDP could stabilise the economy at the level of 2008, preventing this disastrous increase in poverty. A stimulus package consisting of employment intensive public works programmes could be designed to return the economy to its pre-shock level with a reduction in poverty. (...)
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Publisher Info
Paper provided by International Policy Centre for Inclusive Growth in its series Country Study with number
18.
Length: 32 Date of creation: Sep 2009 Date of revision: Publication status: Published by UNDP - International Policy Centre for Inclusive Growth , September 2009, pages 1-32 Handle: RePEc:ipc:cstudy:18
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