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Poverty

Food Prices Are Soaring: 5 Questions for Economist José Cuesta

Karin Rives's picture

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Rice grains in bowl. Photo: Arne Hoel | The World Bank

Photo Credit: Arne Hoel/World Bank

The numbers are jarring: Global prices for key food staples such as corn and soybean were at an all-time high in July 2012, with corn rising 25 percent and soybeans 17 percent in a single month.

Globally, food prices jumped 7 percent between April and July. In some countries, people now pay more than twice as much for sorghum [1] as they did a year earlier, the latest issue of the World Bank’s Food Price Watch shows.

This is expected to hit certain regions with high food imports, such as the Middle East and much of Africa, especially hard.

We’re looking at a significant price shock, but does that mean we’re headed for a food crisis similar to the one we experienced in 2008? World Bank economist José Cuesta, the author of the quarterly Food Price Watch report, gives his perspective on the situation.

Seeing Between the Lines: Visualizing Global Poverty Trends

Johan Mistiaen's picture

Last month, while World Bank President Jim Yong Kim launched the gender data portal, U.S. Secretary of State Hillary Clinton remarked that “data not only measures progress, it inspires it”.  Indeed when data is both relevant and effectively communicated, it can help to inform policies, identify challenges, and catalyze changes and innovations that deliver development results.

With that goal in mind, we started an Open Data Lab.  One of our objectives is to help the development community become more effective data communicators by experimenting with different data visualization techniques and tools.  The human brain finds it easier to process data and information if it is presented as an image rather than raw numbers or words.  And visualizations that let and encourage users to interact with data can deepen their understanding of the information presented. 

Global poverty, absolute poverty, relative poverty: A fresh look

Merrell Tuck-Primdahl's picture

Attention to the issues of relative poverty and inequality is intensifying amidst today's fragile global economy. While pre-crisis economic growth generally reduced the incidence of absolute poverty, concerns remain about relative deprivation and social exclusion, which don't necessarily decline just because someone moves out of extreme poverty. Given this, it may be time to devise a reasonable global measure of relative poverty, alongside prevailing absolute measures.

Martin Ravallion elucidated on this during a July 10 lecture at Sydney's UTS Business School, titled "A Fresh Look at Poverty: More Relatively-Poor People in a Less Absolutely-Poor World".

Poverty measurement, electricity generation, emissions, universal health care, greenhouse issues and financial literacy

Merrell Tuck-Primdahl's picture

This week, amidst fireworks and stultifying Washington heat, five Policy Research Working Papers were published. They cover weakly relative poverty measures, PPPs in electricity generation, carbon emissions, universal health care, financial literacy, and economic analysis of projects in a greenhouse world.

    Nick Kristof on microfinance, banking access and a way out of poverty

    Asli Demirgüç-Kunt's picture

    In today’s New York Times, Nicholas Kristof gives the example of a family in Malawi that improved their lives as the result of a village savings group.  We know that access to banks, cooperatives, and microfinance institutions has allowed many adults like the Nasoni family to safely save for the future, invest in an education or insure against risk, but just how widespread is the use of formal financial products worldwide? How do the barriers to access vary across regions? And how do the unbanked manage their finances?

    In the past, the view of financial inclusion around the world had been incomplete. With the release of the Global Financial Inclusion (Global Findex) Database we now have a comprehensive, individual-level, and publicly-available database that allows for comparisons across 148 economies of how adults around the world manage save, borrow, make payments and manage risk. As cited in the article, the Global Findex data shows that more than 2.5 billion adults around the world don’t have a bank account.

    Inequality of What?

    Francisco Ferreira's picture

    More than ten years ago Ronald Inglehart, of the University of Michigan, and his team at the World Values Survey asked thousands of respondents around the world to rate their views, on a scale of 1 to 10, on whether they felt inequality in their countries should go up or down.  The way they phrased the question was that 1 corresponded to full agreement with the statement that “incomes should be made more equal”, whereas 10 stood for “we need larger income differences as incentives for individual effort”.


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