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Bailing out the world's poorest

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  • Ravallion, Martin

Abstract

While the 2008 financial crisis is global in nature, it is likely to have heterogeneous welfare impacts within the developing world, with some countries, and some people, more vulnerable than others. It also threatens to have lasting impacts for some of those affected, notably through the nutrition and schooling of children in poor families. These features point to the need for a differentiated social policy response, aiming to provide rapid income support to those in most need, while preserving the key physical and human assets of poor people and their communities. The paper points out some mistakes in past crisis responses and identifies key design features for safety net programs that can help compensate for the likely welfare losses in the short-term while also promoting longer-term recovery.

Suggested Citation

  • Ravallion, Martin, 2008. "Bailing out the world's poorest," Policy Research Working Paper Series 4763, The World Bank.
  • Handle: RePEc:wbk:wbrwps:4763
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    Cited by:

    1. Kiendrebeogo, Youssouf & Assimaidou, Kossi & Tall, Abdoulaye, 2017. "Social protection for poverty reduction in times of crisis," Journal of Policy Modeling, Elsevier, vol. 39(6), pages 1163-1183.
    2. World Bank, 2009. "Armenia : Implications of the Global Economic Crisis for Poverty," World Bank Other Operational Studies 3119, The World Bank.
    3. Mohseni-Cheraghlou, Amin, 2016. "The Aftermath of Financial Crises: A Look on Human and Social Wellbeing," World Development, Elsevier, vol. 87(C), pages 88-106.
    4. Gries Thomas & Naude Wim, 2011. "Entrepreneurship, Structural Change and a Global Economic Crisis," Entrepreneurship Research Journal, De Gruyter, vol. 1(3), pages 1-43, July.
    5. Massimo FLORIO, 2012. "The real roots of the great recession: unsustainable income distribution," Departmental Working Papers 2012-01, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    6. Lagadec, Gael & Ris, Catherine, 2010. "La conjoncture économique dans la région Asie-Pacifique après la crise des subprime
      [The economic tendency in the Asia-Pacific area after the subprime crisis]
      ," MPRA Paper 23304, University Library of Munich, Germany.
    7. Sam Wong, 2011. "From Economic Meltdown to Social Crunch – Impact of the Global Economic Recession on Social Capital Building in Developing Countries and What We still Don't Know!," Working Papers id:4398, eSocialSciences.

    More about this item

    Keywords

    Safety Nets and Transfers; Rural Poverty Reduction; Services&Transfers to Poor; Achieving Shared Growth;

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