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Well-being dynamics and poverty traps

Barrett, Christopher B. and Garg, Teevrat and McBride, Linden (2016) Well-being dynamics and poverty traps. Annual Review of Resource Economics, 8. pp. 303-327. ISSN 1941-1340

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Identification Number: 10.1146/annurev-resource-100815-095235

Abstract

A sound understanding of poverty traps - defined as poverty that is self-reinforcing due to the poor’s equilibrium behaviors—and their underlying mechanisms is fundamentally important to the development of policies and interventions targeted to assist the poor. We review the theoretical and empirical evidence on single and multiple equilibria poverty traps at the macro, meso, and, especially, micro levels. In addition we review the literature exploring the various mechanisms that have been posited to perpetuate poverty. We find sufficient evidence to support the poverty traps hypothesis, suggesting that policies designed to interrupt those self-perpetuating mechanisms merit serious attention.

Item Type: Article
Official URL: http://www.annualreviews.org/journal/resource
Additional Information: © 2016 The Authors
Subjects: H Social Sciences > HN Social history and conditions. Social problems. Social reform
Sets: Research centres and groups > Grantham Research Institute on Climate Change and the Environment
Date Deposited: 10 Feb 2016 10:42
Last Modified: 25 Sep 2017 11:00
Projects: ES/K006576/1
Funders: Economic and Social Research Council
URI: http://eprints.lse.ac.uk/id/eprint/65305

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