Publication: Volatility and Inequality as Constraints to Shared Prosperity : Paraguay Equity Assessment
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Date
2015-01
ISSN
Published
2015-01
Author(s)
World Bank Group
Abstract
Isolated by nature, and recovering from
a period of historically low growth during the eighties and
nineties, Paraguay faced many economic and social challenges
at the beginning of the twenty first century. By year 2000,
Paraguay GDP per capita was only 50 percent of the Latin
American average and 34 percent of its MERCOSUR partners.
High poverty and inequality were an inherent characteristic
of the country. Yet, between 2003 and 2013, Paraguay has
performed substantially well, seeing a reduction in moderate
and extreme (monetary) poverty. This is essentially the
result of a period of average significant growth combined
with a reduction in inequality. This report explores the
factors associated to the observed improvements in welfare
and inequality, and investigates the challenges facing their
sustainability, given the historical structural problems of
Paraguay to maintain growth and improve social indicators.
The underlying question is indeed whether the growth model
and reduction in inequality are consistent with a positive
social dynamics, taking a comprehensive definition of
equity, which includes sustainable elimination of absolute
poverty, enhancing equality of opportunity and strengthening
agency for all groups.
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Citation
“World Bank Group. 2015. Volatility and Inequality as Constraints to Shared Prosperity : Paraguay Equity Assessment. © World Bank, Washington, DC. http://hdl.handle.net/10986/18945 License: CC BY 3.0 IGO.”