The conventional wisdom that Africa is not reducing poverty is wrong. Using the methodology of Pinkovskiy and and Sala-i-Martin (2009), we estimate income distributions, poverty rates, and inequality and welfare indices for African countries for the period 1970‐2006. We show that: (1) African poverty is falling and is falling rapidly. (2) If present trends continue, the poverty Millennium Development Goal of halving the proportion of people with incomes less than one dollar a day will be achieved on time. (3) The growth spurt that began in 1995 decreased African income inequality instead of increasing it. (4) African poverty reduction is remarkably general: it cannot be explained by a large country, or even by a single set of countries possessing some beneficial geographical or historical characteristic. All classes of countries, including those with disadvantageous geography and history, experience reductions in poverty. (Source : www.columbia.edu)
Language(s): English
Format: pdf, 340 kB - Download
Regions: International, Africa
Source: http://www.issa.int/Observatory/Country-Profiles/Regions/Africa/Somalia/Resources/(id)/55778
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