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Measuring poverty around the world
\"In this, his final book, economist Anthony Atkinson, one of the world's great social scientists and a pioneer in the study of poverty and inequality, offers an inspiring analysis of a central question: What is poverty and how much of it is there around the globe? The persistence of poverty--in rich and poor countries alike--is one of the most serious problems facing humanity. Better measurement of poverty is essential for raising awareness, motivating action, designing good policy, gauging progress, and holding political leaders accountable for meeting targets. To help make this possible, Atkinson provides a critically important examination of how poverty is--and should be--measured. Bringing together evidence about the nature and extent of poverty across the world and including case studies of sixty countries, Atkinson addresses both financial poverty and other indicators of deprivation. He starts from first principles about the meaning of poverty, translates these into concrete measures, and analyzes the data to which the measures can be applied. Crucially, he integrates international organizations' measurements of poverty with countries' own national analyses. Atkinson died before he was able to complete the book, but at his request it was edited for publication by two of his colleagues, John Micklewright and Andrea Brandolini. In addition, François Bourguignon and Nicholas Stern provide afterwords that address key issues from the unfinished chapters: how poverty relates to growth, inequality, and climate change. The result is an essential contribution to efforts to alleviate poverty around the world.\"--Provided by publisher.
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Post-Pandemic Recovery from the Global Financial Crisis
Why are some global financial crises more difficult to recover from than others? What steps are necessary in ensuring that financial stability and recovery is facilitated? What kind of environment has the previous financial environment evolved to? And what kind of financial products have contributed to greater vulnerability in the triggering of systemic risks? These are some of the questions that this book addresses. It also highlights the role and importance of various actors in post-crises reforms, the huge impact of certain factors, and products that are exacerbating the magnitude and speed of transmission of financial contagion. This book provides insight into why global financial crises have become more complicated to address than ever before. The author doesn't merely identify and highlight the general root causes of global financial crises and the current issues, but gives recommendations for measures which could limit the magnitude and severity of global financial crises.
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Useful enemies : Islam and the Ottoman Empire in Western political thought, 1450-1750
From the fall of Constantinople in 1453 until the eighteenth century, many Western European writers viewed the Ottoman Empire with almost obsessive interest. Typically they reacted to it with fear and distrust; and such feelings were reinforced by the deep hostility of Western Christendom towards Islam. Yet there was also much curiosity about the social and political system on which the huge power of the sultans was based. In the sixteenth century, especially, when Ottoman territorial expansion was rapid and Ottoman institutions seemed particularly robust, there was even open admiration. In this path-breaking book Noel Malcolm ranges through these vital centuries of East-West interaction, studying all the ways in which thinkers in the West interpreted the Ottoman Empire as a political phenomenon - and Islam as a political religion. Useful Enemies shows how the concept of 'oriental despotism' began as an attempt to turn the tables on a very positive analysis of Ottoman state power, and how, as it developed, it interacted with Western debates about monarchy and government. Noel Malcolm also shows how a negative portrayal of Islam as a religion devised for political purposes was assimilated by radical writers, who extended the criticism to all religions, including Christianity itself. Examining the works of many famous thinkers (including Machiavelli, Bodin, and Montesquieu) and many less well-known ones, Useful Enemies illuminates the long-term development of Western ideas about the Ottomans, and about Islam. Noel Malcolm shows how these ideas became intertwined with internal Western debates about power, religion, society, and war. Discussions of Islam and the Ottoman Empire were thus bound up with mainstream thinking in the West on a wide range of important topics. These Eastern enemies were not just there to be denounced. They were there to be made use of, in arguments which contributed significantly to the development of Western political thought. -- Provided by publisher.
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Climate Change
This essay addresses the climate-change externality—its sources, its potential impacts, and the policy tools that are available to stem the rising tides and damages that this externality will likely bring to humans and the natural world. It draws upon my writings in the area, most of which are cited in the references.
Journal Article
Governance, democracy and sustainable development : moving beyond the impasse
\"This very timely and important collection draws together some of the world's leading thinkers on environment and development to debate one of the most important issues of our time: sustainable development. They very usefully remind us all that in order to be politically sustainable, the sustainability transition will have to find a way to maximize policy synergies in a democratically legitimate manner.\"--Provided by publisher.
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EXCHANGE ARRANGEMENTS ENTERING THE TWENTY-FIRST CENTURY
This article provides a comprehensive history of anchor or reference currencies, exchange rate arrangements, and a new measure of foreign exchange restrictions for 194 countries and territories over 1946–2016. We find that the often cited post–Bretton Woods transition from fixed to flexible arrangements is overstated; regimes with limited flexibility remain in the majority. Even if central bankers’ communications jargon has evolved considerably in recent decades, it is apparent that many still place a large implicit weight on the exchange rate. The U.S. dollar scores as the world’s dominant anchor currency by a very large margin. By some metrics, its use is far wider today than 70 years ago. In contrast, the global role of the euro appears to have stalled. We argue that in addition to the usual safe assets story, the record accumulation of reserves since 2002 may also have to do with many countries’ desire to stabilize exchange rates in an environment of markedly reduced exchange rate restrictions or, more broadly, capital controls: an important amendment to the conventional portrayal of the macroeconomic trilemma.
Journal Article
The new politics of Russia : interpreting change
From the conflict in Syria to the crisis in Ukraine, Russia continues to dominate the headlines. Yet the political realities of contemporary Russia are poorly understood by Western observers and policy-makers. In this highly engaging book, Andrew Monaghan explains why we tend to misunderstand Russia - and the importance of 'getting Russia right'. Exploring in detail the relationship between the West and Russia, he charts the development of relations and investigates the causes of the increasingly obvious sense of strategic dissonance. He also considers the evolution in Russian domestic politics, introducing influential current figures and those who are forming the leadership and opposition of the future. By delving into the depths of difficult questions such as the causes of the Ukraine crisis or the political protests surrounding the 2011-12 elections, the book offers a dynamic model for understanding this most fascinating and elusive of countries. -- Publisher website.
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Replicating Anomalies
Most anomalies fail to hold up to currently acceptable standards for empirical finance. With microcaps mitigated via NYSE breakpoints and value-weighted returns, 65% of the 452 anomalies in our extensive data library, including 96% of the trading frictions category, cannot clear the single test hurdle of the absolute t-value of 1.96. Imposing the higher multiple test hurdle of 2.78 at the 5% significance level raises the failure rate to 82%. Even for replicated anomalies, their economic magnitudes are much smaller than originally reported. In all, capital markets are more efficient than previously recognized.
Journal Article
Atlas of sustainable development goals 2017 : from world development indicators
The atlas uses maps, charts and analysis to illustrate, trends, challenges and measurement issues related to each of the 17 Sustainable Development Goals. The Atlas primarily draws on World Development Indicators (WDI) - the World Bank's compilation of internationally comparable statistics about global development and the quality of people's lives Given the breadth and scope of the SDGs, the editors have been selective, emphasizing issues considered important by experts in the World Bank's Global Practices and Cross Cutting Solution Areas. Nevertheless, The Atlas aims to reflect the breadth of the Goals themselves and presents national and regional trends and snapshots of progress towards the UN's seventeen Sustainable Development Goals: poverty, hunger, health, education, gender, water, energy, jobs, infrastructure, inequalities, cities, consumption, climate, oceans, the environment, peace, institutions, and partnerships. Between 1990 and 2013, nearly one billion people were raised out of extreme poverty. Its elimination is now a realistic prospect, although this will require both sustained growth and reduced inequality. Even then, gender inequalities continue to hold back human potential. Undernourishment and stunting have nearly halved since 1990, despite increasing food loss, while the burden of infectious disease has also declined. Access to water has expanded, but progress on sanitation has been slower. For too many people, access to healthcare and education still depends on personal financial means. To date the environmental cost of growth has been high. Accumulated damage to oceanic and terrestrial ecosystems is considerable. But hopeful signs exist: while greenhouse gas emissions are at record levels, so too is renewable energy investment. While physical infrastructure continues to expand, so too does population, so that urban housing and rural access to roads remain a challenge, particularly in Sub-Saharan Africa. Meanwhile the institutional infrastructure of development strengthens, with more reliable government budgeting and foreign direct investment recovering from a post-financial crisis decline. Official development assistance, however, continues to fall short of target levels.
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Four Decades of Poverty Reduction in China
Regardless of the poverty line used, the speed and scale of China's poverty reduction are historically unprecedented. Over the past 40 years, the number of people in China with incomes below US$1.90 per day—the international poverty line as defined by the World Bank to track global extreme poverty—has fallen by close to 800 million, accounting for almost three-quarters of the global reduction in extreme poverty. In 2021, China declared that it had eradicated extreme poverty according to its national poverty threshold, and that it had built a “moderately prosperous society in all respects.” However, a significant number of people remain vulnerable, with incomes below a threshold more typically used to define poverty in upper-middle-income countries. China has set a new goal of approaching common prosperity by 2035, which can help keep the policy focus on the vulnerable population. Four Decades of Poverty Reduction in China: Drivers, Insights for the World, and the Way Ahead explores the key drivers of China's poverty alleviation achievements and considers the lessons of China's experience for other developing countries. The report also makes suggestions for China's future policies. China's approach to poverty reduction was based on two pillars. The first aimed for broad-based economic transformation to open new economic opportunities and raise average incomes. The second was the recognition that targeted support was needed to alleviate persistent poverty; this support was initially provided to disadvantaged areas and later to individual households. The success of China's economic development and the associated reduction of poverty also benefited from effective governance, which helped coordinate multiple government agencies and induce cooperation from nongovernment stakeholders. To illustrate the role of broad-based economic transformation for poverty alleviation, separate sections of the report analyze growing agricultural productivity, incremental industrialization, managed urbanization and rural-to-urban migration, and the role of infrastructure
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