World Bank with website on the impact of the financial crisis on poor people |
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The World Bank has established a website which analyses, among other things, the impact of the world financial crisis on poor countries and people.
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Some recent papers include:
Swimming against the tide “Impact on the Poor and Most Vulnerable- What does this mean for the poor?
The economic crisis is projected to increase poverty by around 46 million people in 2009. The principal transmission channels will be via employment and wage effects as well as declining remittance flows. While labor markets in the developing world will take a while to experience the full effects of the on-going global contraction, there is already clear evidence of the fall-out.
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Assessing vulnerability for women and children
The current global financial crisis, on top of recent food price increases (which, while down from their peak last year continue to affect the poor in developing countries), will have serious gender-specific consequences for women in poor countries and their children. Decelerating growth rates in countries with pre-existing high infant and child mortality rates and/or low rates of female schooling leave women and girls highly vulnerable to the effects of the crisis. Their situation is even more precarious in the sub-set of countries where limited fiscal resources constrain governments’ ability to cushion human impacts.
If left unchecked, these consequences will reverse progress in gender equality and women’s empowerment (and in meeting the MDGs), increase current poverty and imperil future development. Fortunately, policy responses which build on women’s roles as economic agents and their preference for investing resources in child well-being can go a long way towards mitigating these negative effects. These responses are good for women and for development– they yield high returns in terms of containing current and future poverty—and should be enacted quickly.
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page last updated on 24.03.2009
