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- Publisher
- World Scientific Publishing Company
- Copyright
- Copyright ©
- ISSN
- 0217-5908
- eISSN
- 1793-6837
- DOI
- 10.1142/S0217590809003318
- Publisher site
- See Article on Publisher Site
Abstract
It is widely believed that in developing countries, open-access to natural resources, inadequate private property rights, and lack of development of market systems add to the incidence of poverty. Increased economic efficiency is seen as a powerful force for reducing the extent of poverty in developing countries in the long run. While this may be so, it ignores the depth and incidence of poverty that can be generated during adjustments to policy reforms. This possibility constrains policy choices as shown theoretically on natural resource policies and agricultural adjustment policies with Asian examples. Social, behavioral, and institutional features are also considered as they may result in the poverty lock-in of some groups. It is essential to consider dynamic processes and not to rely solely on comparative statics when assessing economic policies to reduce poverty and increase economic efficiency. It is also important to take into account the institutional constraints on policy choices.
Journal
The Singapore Economic Review – World Scientific Publishing Company
Published: Jun 1, 2009
Keywords: Adjustment to policy change agricultural policy Asia economic efficiencies institutionalism market reforms natural resource policies poverty