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Global megatrends and the quest for poverty eradication

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  • Patrick N. Osakwe
  • Olga Solleder

Abstract

Global megatrends such as income inequality, climate change, demographic shifts, technological progress, and urbanisation are shaping the future of societies, yet their quantitative impacts on development are neither well understood nor established. This paper examines the individual and combined effects of these global forces on poverty using both cross-section and panel estimation techniques on a global dataset covering the period from 1995 to 2019. It finds that inequality, urbanization, and technology are the megatrends with a robust impact on poverty in both the long and medium term, while demographic shifts and climate change have some impact depending on the samples and specifications considered. The paper also finds that technology, urbanization, and demographic shifts affect poverty through their interactions with income inequality.

Suggested Citation

  • Patrick N. Osakwe & Olga Solleder, 2024. "Global megatrends and the quest for poverty eradication," UNCTAD Working Papers #7, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:wpaper:7
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