|
Growth Elasticity Of Poverty
Growth elasticity of poverty (GEP) is the percentage reduction in poverty rates associated with a percentage change in per capita income, mean (per capita) income. Mathematically; : \mathrm=-\frac \, where PR is a poverty measure and ''y'' is per capita income. Generally, increases in per capita income tend to decrease the poverty rate, hence the elasticity is positive. Standard estimates of GEP for developing countries range from 1.5 to 5, with an average estimate of around 3. This implies that a 1% increase in per capita income is associated with a 3% decrease in the poverty rate (proportion of people living on less than $1 per day). This implies that economic growth is fundamental to reducing poverty rates, particularly in low income countries. However, the GEP also depends on other variables, among them the initial level of income inequality. Countries with a more equal distribution of income (as measured for example by the Gini coefficient, Gini index) experience a g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty
Poverty is the state of having few material possessions or little income. Poverty can have diverse social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: ''absolute poverty'' compares income against the amount needed to meet basic needs, basic personal needs, such as food, clothing, and Shelter (building), shelter; ''relative poverty'' measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place. The definition of ''relative poverty'' varies from one country to another, or from one society to another. Statistically, , most of the world's population live in poverty: in Purchasing Power Parity, PPP dollars, 85% of people live on less than $30 per day, two-thirds live on less than $10 per day, and 10% live on less than $1.90 per day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Per Capita Income
Per capita income (PCI) or total income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. Per capita income is often used to measure a sector's average income and compare the wealth of different populations. Per capita income is also often used to measure a country's standard of living. It is usually expressed in terms of a commonly used international currency such as the euro or United States dollar, and is useful because it is widely known, is easily calculable from readily available gross domestic product (GDP) and population estimates, and produces a useful statistic for comparison of wealth between sovereign territories. This helps to ascertain a country's development status. It is one of the three measures for calculating the Human Development Index of a country. Per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty Rate
Poverty is the state of having few material possessions or little . Poverty can have diverse , , and causes and effects. When evaluating poverty in statistics or economics there are two main measures: '''' compares income against the amount needed to meet [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Developing Countries
A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. The term low and middle-income country (LMIC) is often used interchangeably but refers only to the economy of the countries. The World Bank classifies the world's economies into four groups, based on gross national income per capita: high, upper-middle, lower-middle, and low income countries. Least developed countries, landlocked developing countries and small island developing states are all sub-groupings of developing countries. Countries on the other end of the spectrum are usually referred to as high-income countries or developed countries. There are controversies over this term's use, which some feel it perpetuates an outdated concept of "us" and "them". In 2015, the World Bank declared that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality
There are wide varieties of economic inequality, most notably income inequality measured using the distribution of income (the amount of money people are paid) and wealth inequality measured using the distribution of wealth (the amount of wealth people own). Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people. Important types of economic measurements focus on wealth, income, and consumption. There are many methods for measuring economic inequality, the Gini coefficient being a widely used one. Another type of measure is the Inequality-adjusted Human Development Index, which is a statistic composite index that takes inequality into account. Important concepts of equality include equity, equality of outcome, and equality of opportunity. Whereas globalization has reduced global inequality (between nations), it has increased inequality within nations. Income inequality between nations peak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Measurements And Definitions Of Poverty
Measurement is the quantification of attributes of an object or event, which can be used to compare with other objects or events. In other words, measurement is a process of determining how large or small a physical quantity is as compared to a basic reference quantity of the same kind. The scope and application of measurement are dependent on the context and discipline. In natural sciences and engineering, measurements do not apply to nominal properties of objects or events, which is consistent with the guidelines of the ''International vocabulary of metrology'' published by the International Bureau of Weights and Measures. However, in other fields such as statistics as well as the social and behavioural sciences, measurements can have multiple levels, which would include nominal, ordinal, interval and ratio scales. Measurement is a cornerstone of trade, science, technology and quantitative research in many disciplines. Historically, many measurement systems existed for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
_per_capita_in_2021.svg "Click for more on -> Per Capita Income")
