Using PSID data for the years 1984-99, we estimate the level and severity of asset poverty. We find that despite a sharp decline in the official poverty rate, the asset poverty rate barely budged over this period. Moreover, the severity of asset poverty increased during this period. The...

We investigate the possibility of further channels through which financial liberalization policies might affect poverty and discuss how various factors have produced varying outcomes in different countries. The growth channel is the only one widely accepted in the literature. We suggest that...