Shared Prosperity and the Mitigation of Poverty: In Practice and in Precept

37 Pages Posted: 20 Apr 2016  

Kaushik Basu

Cornell University - Department of Economics; Harvard University - Harvard Institute of Economic Research; IZA Institute of Labor Economics; World Bank

Date Written: November 1, 2013

Abstract

The World Bank Group recently adopted two overarching goals -- the end of extreme, chronic poverty in the world by 2030 and the promotion of shared prosperity in every society. The paper examines the normative properties of these goals, their strengths and weaknesses, and their implications for actual policymaking, especially in the presence of globalization. This is closely related to the age-old debate on growth versus direct welfare interventions as instruments for countering poverty. The paper analyzes past trends on poverty and tries to shed new light on this old debate.

Keywords: Rural Poverty Reduction, Achieving Shared Growth, Services & Transfers to Poor, Economic Theory & Research, Inequality

Suggested Citation

Basu, Kaushik, Shared Prosperity and the Mitigation of Poverty: In Practice and in Precept (November 1, 2013). World Bank Policy Research Working Paper No. 6700. Available at SSRN: https://ssrn.com/abstract=2354167

Kaushik Basu (Contact Author)

Cornell University - Department of Economics ( email )

414 Uris Hall
Ithaca, NY 14853-7601
United States
607-255-2525 (Phone)
607-255-2818 (Fax)

Harvard University - Harvard Institute of Economic Research ( email )

Department of Economics
200 Littauer Center
Cambridge, MA 02138
United States
617-495-8161 (Phone)
617-495-8570 (Fax)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

World Bank

1818 H Street NW
Washington, DC 20433
United States

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