Basu, Kaushik2014-02-052014-02-052013-11https://hdl.handle.net/10986/16914The World Bank Group recently adopted two overarching goals -- the end of extreme, chronic poverty in the world by 2030 and the promotion of shared prosperity in every society. The paper examines the normative properties of these goals, their strengths and weaknesses, and their implications for actual policymaking, especially in the presence of globalization. This is closely related to the age-old debate on growth versus direct welfare interventions as instruments for countering poverty. The paper analyzes past trends on poverty and tries to shed new light on this old debate.en-USCC BY 3.0 IGOABSOLUTE POVERTYAGGREGATE INCOMEAGRICULTURAL WAGESANTI-POVERTYANTI-POVERTY POLICYAVERAGE INCOMESCHRONIC POVERTYCLIMATE CHANGECLOSED ECONOMYCONFLICTDECLINING INEQUALITYDECOMPOSABLE POVERTY MEASURESDEVELOPING COUNTRIESDEVELOPING WORLDDEVELOPMENT ECONOMICSDEVELOPMENT GOALSDEVELOPMENT POLICYECONOMIC DEVELOPMENTECONOMIC FLUCTUATIONSECONOMIC GROWTHECONOMIC INEQUALITYECONOMIC LITERATUREECONOMIC POLICIESECONOMIC POLICYECONOMIC REVIEWECONOMIC STUDIESECONOMIC THEORYECONOMICS LETTERSEMPIRICAL WORKEXTERNALITIESEXTREME POVERTYEXTREMELY POOR PEOPLEFARM EMPLOYMENTFARMERSFISCAL POLICIESFISCAL POLICYFREE MARKETSGDPGINI INDEXGLOBAL ECONOMYGLOBAL POVERTYGOVERNMENT SUBSIDIESGROWTH RATEGROWTH RATESHEADCOUNT POVERTYHIGH GROWTHHUMAN DEVELOPMENTIMPACT ON POVERTYINCOMEINCOME DISTRIBUTIONINCOME DISTRIBUTIONSINCOME GROWTHINCOME GROWTH RATEINCOME INEQUALITYINDIVIDUAL COUNTRIESINEQUALITYINFANT MORTALITYINTERNATIONAL ORGANIZATIONSLIFE EXPECTANCYLIVING STANDARDSLORENZ CURVEMACROECONOMIC ENVIRONMENTMACROECONOMIC IMPLICATIONSMACROECONOMICSMALNUTRITIONMEASURING POVERTYMICRO DATAMONETARY POLICYNATIONAL ACCOUNTSNATIONAL INCOMENEOCLASSICAL ECONOMICSNET EFFECTNUTRITIONPER CAPITA INCOMEPOLARIZATION MEASURESPOLICY ALTERNATIVESPOLICY DISCUSSIONSPOLICY IMPLICATIONSPOLICY INTERVENTIONSPOLICY MAKERSPOLICY MAKINGPOLICY RESEARCHPOLITICAL CONFLICTPOLITICAL ECONOMYPOORPOOR COUNTRIESPOOR PEOPLEPOOR POLICIESPOPULATION SHAREPOPULOUS COUNTRIESPOST-REFORMPOVERTY DEBATEPOVERTY DECLINEPOVERTY ERADICATIONPOVERTY LINEPOVERTY LINESPOVERTY MEASUREMENTPOVERTY MEASURESPOVERTY MITIGATIONPOVERTY POLICIESPOVERTY RATEPOVERTY RATESPOVERTY REDUCTIONPRIVATE SECTORPRO-POORPROMOTING EQUALITYPROTECTIONISMPUBLIC ECONOMICSPUBLIC GOODSRAPID GROWTHRATION SHOPSREAL INCOMEREDUCED POVERTYREGRESSION ANALYSISRELATIVE POVERTYRICH COUNTRIESRURALRURAL COMMUNITIESRURAL EMPLOYMENTSKILLED WORKERSOCIAL PROGRAMSTAXATIONTECHNOLOGICAL INNOVATIONTRANSACTIONS COSTSWARWEALTHWORLD TRADE ORGANIZATIONWorld Bank10.1596/1813-9450-6700