Abstract
Abstract
Chapter 5 first re-examines the relationship between growth and poverty reduction using updated data, multiple poverty lines, and time periods, and different measures of growth and poverty. Growth (semi) elasticities of poverty are calculated, and sensitivity analysis conducted adjusting for outliers, measurement error, and endogeneity due to reverse causation. The findings generally support the view that growth reduces poverty on average. Next, the chapter investigates correlates and causes of immiserizing growth, using descriptive statistics and cross-country econometric analysis. Results suggest that immiserizing growth is primarily a shorter-term phenomenon, occurring in around 15 per cent of five-year spells, mainly in Latin America and sub-Saharan Africa with greater frequency in the 1990s. The econometric results generated few robust, statistically significant findings, and counterintuitive results. Some evidence emerged, however, for an association of immiserizing growth with either corruption or the interaction of corruption and high natural resource rents (so-called ‘natural resource curse’ situations).
Publisher
Oxford University PressOxford
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