Nayyar, Gaurav

Equitable Growth, Finance, and Institutions
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Economic growth, Structural transformation, India, Development Economics, International Economics
Equitable Growth, Finance, and Institutions
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Last updated January 31, 2023
Gaurav Nayyar is a Senior Economist in the Equitable Growth, Finance and Institutions Vice Presidency at the World Bank, where he joined as a Young Professional in 2013. Previously, he was an Economics Affairs Officer in the Economic Research Division of the World Trade Organization, where he co-led the World Trade Report 2013, Factors Shaping the Future of World Trade. Gaurav’s research interests lie primarily in the areas of economic growth, structural transformation, trade, industrialization, and firm productivity, and he has published in a variety of academic journals on these issues. His previous books include Trouble in the Making? The Future of Manufacturing-Led Development (with Mary Hallward-Driemeier), and The Service Sector in India’s Development (published by Cambridge University Press). Gaurav holds a D.Phil in Economics from the University of Oxford, where he was a Dorothy Hodgkin Scholar. His other alma maters include the London School of Economics and Political Science, the University of Cambridge, and St. Stephen’s College, University of Delhi.
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    Pro-poor Growth: Explaining the Cross-Country Variation in the Growth Elasticity of Poverty
    ( 2008) Chhibber, Ajay ; Nayyar, Gaurav
    The aim of this paper is to analyse the cross-country variation in the growth elasticity of poverty across a sample of developing countries during the period from 1990 to 2000. In order to identify variables that may explain the cross-country variation in the growth elasticity of poverty, the paper sets up a theoretical framework. Subsequently, the explanatory power of these variables is tested empirically by panel data econometric analysis. For a sample of 52 low and middle income countries, it is found that the level of initial income inequality, credit available to the private sector, literacy, the extent of business regulations and trade openness are important determinants of the growth elasticity of poverty. Countries that reduce regulatory burdens, improve literacy, increase access to finance, undertake land reforms (asset redistribution), and provide safety nets while liberalizing trade can create more growth and ensure that it is pro-poor. The paper identifies variables (at a cross-country level) that may guide the conscious policies which create pro-poor growth.