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File2-page9 - Divergent trends for example in East Asia and...

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Besley & Burgess (2003) Redistribution, Growth and Welfare - based on this evidence, South Asia, which has the largest con- centration of poor people, cannot be deemed to be “on track” in terms of halving the proportion in poverty by 2015 Poverty varies strongly over space and time (Table 1) - suggests that the factors which affect poverty are also time & space varying. - This pattern is difficult to square with some fixed effect argu- ment, whether this has to do with resource endowments, dis- ease burden, geography or societal norms. Political and social factors are clearly at work - these institutional factors affect not only the rate of capital ac- cumulation but also the willingness and power to redistribute towards the poor.
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Unformatted text preview: - Divergent trends, for example, in East Asia and sub-Saharan Africa, are a function of the policy and institutional reforms im-plemented in the countries that make up those regions. • Role of modern economics is to identify the policy and the institu-tional reforms that are capable of attacking poverty • Or put differently, as the argument cuts both ways, we want to iden-tify policy and institutional choices that keep countries or regions poor. • Backwardness and poverty do not have to be taken as a fact of life. There is real scope to confront them and over reasonable time peri-ods. • Period of huge potential - major role for economic policy analysis Development Economics, LSE Summer School 2007 6...
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