In the Global South economic mobility across generations or intergenerational economic mobility is in and of itself an important topic for research with consequences for policy. This 'Element' surveys the area, conceptually and empirically.

The reform of the international financial and tax systems has been at the center of global debates in recent years -in the United Nations, the World Bank, the International Monetary Fund, the OECD and the G20. The fourth United Nations Conference on Financing for Development that will take place...

This Element derives subjective poverty lines for seven Latin American countries based on a Minimum Income Question included in household expenditure surveys. It compares poverty incidence under the subjective and objective approach, finding subjective poverty is larger than objective for all...

This Element examines the process of economic development of the last 50 years or so under the neoliberal model in terms of impacts on growth, inflation, income and wealth distribution and structural change. The analysis includes a historical perspective from the 19th century to the present and...

The focus of this Element is on the idea that choice is hierarchical so that there exists an order of acquisition of durable goods and assets as real incomes increase. Two main approaches to deriving such an order are presented, the so-called Paroush approach and Item Response Theory. An...

This Element proposes an alternative framework for rethinking the role of finance in serving the real economy from the perspective of New Structural Financial Economics. It challenges the conventional wisdom that developing countries should take the financial structure of developed countries as...

The pathways to economic development are changing. Environmental sustainability is no longer a choice but a necessity to maintain a competitive edge in the global economy. Just like in nature, where survival hinges on adaptation, this Element shows how nations adjust to -and take advantage of-...

This Element outlines the origins and evolution of an international award-winning development intervention, index-based livestock insurance (IBLI), which scaled from a small pilot project in Kenya to a design that underpins drought risk management products and policies across Africa. General...

One of the key features of modern economic growth is the process of structural transformation, which is the movement of workers from agriculture to manufacturing and services. In this study, the author identifies different routes to structural transformation that we see in the developing world....

It is arguable that the most important event in the world economy in recent decades has been the rise of China, from being on a par with Sub Sahara Africa at the start of economic reform to being an economic superpower today. That rise remains under-researched. Moreover, the great structural...