Poverty and Policy in the Developing World : Before and After the Pandemic

This paper begins with the definition, measurement, and other conceptual issues related to poverty in the developing world. It then makes an international comparison of experiences in poverty alleviation—how various countries and regions have fared in alleviating poverty before the COVID-19 Pandemic. The next section reviews the effectiveness of various approaches to poverty reduction, which are grouped under two broad headings: inclusive growth and redistributive policies to empower the poor. Under inclusive growth, it reviews the various strategies of growth in alleviating. In particular, it draws on the experiences of successful Asian countries and examines the salience of different policies and strategies such outward-orientation, domestic liberalization, and investments in physical infrastructure. It then examines the role of various redistributive policies, which include investments in human capital, land reform, microcredit, and income transfer, and safety net programs. The article concludes with some prognostications about the effectiveness of various policies and strategies in the post-pandemic developing world