growth-week2-blackboard - EconomicGrowth Week2 1 22...

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Click to edit Master subtitle style Economic Growth Week 2
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22 1. Globalization – Poverty Globalization often held responsible for the high 
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33 List of advanced economies (IMF definition) List of advanced economies (IMF definition) Composed  of  33  countries:  Australia,  Austria,  Belgium,  Canada,  Cyprus,  Czech  Republic,  Denmark,  Finland,  France,  Germany,  Greece,  Hong  Kong  SAR,  Iceland,  Ireland,  Israel,  Italy,  Japan,  Korea,  Luxembourg,  Malta,  Netherlands,  New  Zealand,  Norway,  Portugal,  Singapore,  Slovak  Republic,  Slovenia,  Spain,  Sweden,  Switzerland,  Taiwan  Province  of  China,  United  Kingdom, United States
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44 How do we define poverty? n Extreme Poverty – below $1.08/day (in 1993 PPP dollars) n Absolute poverty – below $2.15/day (in 1993 PPP dollars) 1820* 1970* 1993** 2001** 2004*** Per day bill % bill % bill % bill % bill % < $1 0.9 83,9 1.3 35,6 1.2 26,3 1.1 21,1 1 18.09 < $2 1 94,5 2.2 60,1 2.7 60,1 2.7 52,9 2.5 47.55
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55 Income and Poverty in the World  selected countries, 2000 0 10 20 30 40 50 60 70 80 90 100 $0 $5,000 $10,000 $15,000 $20,000 Income per capita in dollars % of population living on $2 per day or less Madagascar India Bangladesh Nepal Botswana Mexico Chile S. Korea Brazil Russian Federation Thailand Peru China Kenya
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66 Increase in poverty? Why? n Liberalization? - disagreement among  economists (as always!) n Lack of openness n Openness not accompanied by good policies n Too much openness n And some agreement: dramatic rise in  population  and unequal distribution …..but  also low growth of GDP! n Europe, Africa and Asia – different scenarios
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77 n The Bad News: the  absolute  number increased n The Good News: the  relative  number (%)of the  extremely poor people – almost halved n So the increase in the world population has not been  accompanied by a parallel  increase in poverty Increase in poverty? Why?
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88 More inequality n Even if the  relative  poverty decreases – what is the  degree of homogeneity n The absolute and relative poverty may vary  within a  region  : n 1987 – 1998 – Sub-Saharan Africa: poverty increased from  46.6 to 48.1%, and expected to increase from 240 mill to  400 mill in 2015… n some regions in Latin America and Central Asia – poor  and extremely poor people increase (absolute and relative) n Or  within a country : n Sudan, Mexico, Ghana, China (urban and rural areas…)
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99 Inequality
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1010 How can poverty be reduced?
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