Poverty and vulnerability

Research output: Contribution to journalArticle

Abstract

A definition of stochastic poverty is set out in an attempt to formalise the difference between it and risk per se. Three additional factors contribute to poverty in poor countries: weather and price variability which are responsible for a large part of income fluctuations; financial institutions are poorly developed; and social insurance institutions are often weak. The problem of transitory poverty in rural India, much of which is due to stochastic poverty, is then addressed largely by increasing the extent and effectiveness of insurance mechanisms. -from Author

Original languageEnglish (US)
Pages (from-to)221-225
Number of pages5
JournalAmerican Economic Review
Volume84
Issue number2
StatePublished - 1994

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Vulnerability
Poverty
Factors
Fluctuations
Financial institutions
Social insurance
Income
Weather
Rural India
Insurance

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

Poverty and vulnerability. / Morduch, J.

In: American Economic Review, Vol. 84, No. 2, 1994, p. 221-225.

Research output: Contribution to journalArticle

Morduch, J 1994, 'Poverty and vulnerability', American Economic Review, vol. 84, no. 2, pp. 221-225.
Morduch, J. / Poverty and vulnerability. In: American Economic Review. 1994 ; Vol. 84, No. 2. pp. 221-225.
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