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Latin America and the Caribbean Poverty and Labor Brief, June 2013 : Shifting Gears to Accelerate Shared Prosperity in Latin America and the Caribbean

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  • World Bank
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    Abstract

    The Latin America and Caribbean (LAC) region has made laudable progress in the past fifteen years in reducing poverty, building the middle class, and promoting prosperity for all levels of society. Extreme poverty, defined in this region as life on less than $2.50 a day, has declined by half, while in 2011 for the first time in recorded history the LAC region had a larger number of people in the middle class than in poverty. Across this region of close to 600 million people, the poor have been gaining faster than the already well off. But despite these impressive achievements, about 80 million people still live in extreme poverty, half of them in Brazil and Mexico. And millions more who have risen out of poverty risk being pulled back down into it by economic shocks and severe weather brought on by climate change. This brief reviews the LAC's progress toward these objectives, outlines the continuing challenges and proposes a policy framework for keeping the region on its upward arc and picking up the speed.

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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/15265/LACPovertyandLaborBriefJune2013.pdf?sequence=1
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    Paper provided by The World Bank in its series World Bank Other Operational Studies with number 15265.

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    Handle: RePEc:wbk:wboper:15265

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    Keywords: Macroeconomics and Economic Growth - Regional Economic Development Poverty Reduction - Achieving Shared Growth Poverty Reduction - Rural Poverty Reduction Poverty Reduction - Services & Transfers to Poor;

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    1. World Bank, 2011. "A Break with History : Fifteen Years of Inequality Reduction in Latin America," World Bank Other Operational Studies 2747, The World Bank.
    2. Maros Ivanic & Will Martin, 2008. "Implications of higher global food prices for poverty in low-income countries-super-1," Agricultural Economics, International Association of Agricultural Economists, vol. 39(s1), pages 405-416, November.
    3. Lopez-Calva, Luis F. & Ortiz-Juarez, Eduardo, 2011. "A vulnerability approach to the definition of the middle class," Policy Research Working Paper Series 5902, The World Bank.
    4. Rafael Rofman & Leonardo Lucchetti & Guzmán Ourens, 2010. "Pension Systems in Latin America: Concepts and Measurements of Coverage," Documentos de Trabajo (working papers) 0510, Department of Economics - dECON.
    5. Macours, Karen & Premand, Patrick & Vakis, Renos, 2012. "Transfers, diversification and household risk strategies : experimental evidence with lessons for climate change adaptation," Policy Research Working Paper Series 6053, The World Bank.
    6. Ivanic, Maros & Martin, Will, 2008. "Implications of higher global food prices for poverty in low-income countries," Policy Research Working Paper Series 4594, The World Bank.
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