Description: On the Edge of Uncertainty : Poverty Reduction in Latin America and the Caribbean during the Great Recession and Beyond

On the Edge of Uncertainty : Poverty Reduction in Latin America and the Caribbean during the Great Recession and Beyond

Strong poverty reduction in Latin America resumed with the growth rebound in 2010, as both moderate and extreme poor households benefitted from the recovery, accelerating poverty reduction to rates similar to those witnessed between 2003-2006 despite a 2.8 percent decline in Gross Domestic Product (...

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Bibliographic Details
Main Author:	World Bank
Language:	en_US
Published:	Washington, DC 2014
Subjects:	Andean Region basic food basket Caribbean Region cash transfers changes in poverty Consumer Price Index consumption smoothing credit markets decline in poverty decomposition techniques Descriptive statistics Development Economics Development Indicators economic contractions economic growth Economic Shocks equal distribution Estimates of poverty extreme poor households Extreme poverty extreme poverty line extremely poor households female workers financial crisis fiscal constraints food basket food needs food poverty food poverty line Food price food prices food products global economy growth effect Growth Elasticity Growth Prospects High elasticity household income household incomes household survey household surveys household welfare households with children impact on poverty income income growth income on food Income Poverty inequality Inequality Reduction insurance international poverty lines labor force labor market mean incomes medium term national accounts negative impact new poor per capita growth point decline poor poor household Population Share poverty decline poverty dynamics poverty estimates Poverty Gap Poverty Index Poverty Levels poverty line poverty lines poverty measurement poverty measures poverty rate Poverty rates Poverty Reduction poverty series private transfers reducing poverty reduction in poverty reduction of poverty regional economy regional level Regional poverty regional trends Rural rural areas rural economy Rural households rural poor safety net safety net programs safety nets Sectoral Composition social spending sub-region sub-regions subsistence urban areas urban poor vulnerable households welfare distribution
Online Access:	http://hdl.handle.net/10986/17196

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Summary:	Strong poverty reduction in Latin America resumed with the growth rebound in 2010, as both moderate and extreme poor households benefitted from the recovery, accelerating poverty reduction to rates similar to those witnessed between 2003-2006 despite a 2.8 percent decline in Gross Domestic Product (GDP) per capita in Purchasing Power Parity (PPP) terms, poverty levels in Latin America (LAC) remained basically static during the great recession, as the poor were shielded from the economic crisis in some countries and continued to benefit from growth in others. In 2010, poverty reduction resumed sharply in Latin America, as household incomes were once again closely linked to economic growth at rates similar to pre-crisis years. Moderate poverty declined by almost 2.5 percentage points to reach 28 percent in 2010, while extreme poverty fell by more than 2 percentage points to reach 14 percent. As 2011 comes to a close, once again the global economy and Latin America are facing risks of yet another economic slowdown. Using household survey data from 2010 and selected labor market indicators through the third quarter of 2011, this note identifies some basic facts on the impact of the crisis and the recovery on the poor and explores their implications for poverty reduction in the region going forward.

On the Edge of Uncertainty : Poverty Reduction in Latin America and the Caribbean during the Great Recession and Beyond

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