"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions...

There are two broad views as to why people stay poor. One emphasizes differences in fundamentals, such as ability, talent or motivation. The other, the poverty traps view, differences in opportunities which stem from access to wealth. To test between these two views, we exploit a large-scale,...

We use a large, representative panel data set from India with monthly data on household finances to examine the incidence of economic harms during the COVID pandemic. We observe a sharp spike in poverty, peaking during India's sharp but short lockdown. However, there was a striking decrease in...

This paper explores the roles of different levels of government in assisting the poor. Using a model with utility interdependence, the paper presents some theoretical results on how levels of poor relief vary with the extent of mobility of the poor under both centralized and decentralized...

This paper investigates the impacts of macroeconomic activity and policy on the poverty population. It is shown that both the poverty count and the income share of the lowest quintile of income recipients move significantly with the business cycle. The differential impact of inflation versus...

Ethnic riots broke out in Malaysia in 1969, prompting a national effort at affirmative action favoring the poorer (majority) of "Bumiputera" (mainly Malays). Since then, Malaysia's official poverty measures indicate one of the fastest long-term rates of poverty reduction in the world, due to...

This paper uses an RCT to estimate the impact of PROBEMS, a scholarship program in Mexico aimed at improving graduation rates and test scores among upper secondary school students from poor backgrounds. We find that, on average, the program has no impact either on graduation rates or on Math and...

The paper critically assesses prevailing measures of global poverty. A welfarist interpretation of global poverty lines is augmented by the idea of normative functionings, the cost of which varies across countries. In this light, current absolute measures are seen to ignore important social...

Can microcredit help unlock a poverty trap for some people by putting their businesses on a different trajectory? Could the small microcredit treatment effects often found for the average household mask important heterogeneity? In Hyderabad, India, we find that "gung ho entrepreneurs" (GEs),...

We evaluate progress in President's Johnson's War on Poverty. We do so relative to the scientifically arbitrary but policy relevant 20 percent baseline poverty rate he established for 1963. No existing poverty measure fully captures poverty reductions based on the standard that President Johnson...