Make me a bulleted list of the effective ways to reduce poverty
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Effective Ways to Reduce Poverty
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Economic Growth and Redistribution
- Combining economic growth with income redistribution is more effective in reducing poverty than relying on growth alone. Redistribution of current income or the growth increment of income can significantly lower poverty levels in many countries1.
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Tax-Benefit Policies
- Increasing child benefits and social assistance are cost-effective methods for reducing poverty. These measures directly impact household income and are particularly effective in various EU countries2.
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Entrepreneurship and Innovation
- Promoting entrepreneurship and new venture creation can be a significant solution to poverty. This approach leverages the potential of the platform, network/digital, and sharing economies to create new opportunities for income generation3.
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Rural Development
- Focusing on rural development, especially in the early stages with food staple production and later with commercial crops and non-farm sectors, is crucial. Key interventions include better access to assets like land and water, improved technology, market access, and institutional reforms4.
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Microfinance Programs
- Implementing microfinance programs can remove constraints to innovation and entrepreneurship, enabling small-scale businesses to thrive. This approach helps increase incomes and expand employment opportunities for the poor5.
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Industrialization and Social Welfare
- Industrialization and social welfare programs have been effective in rapidly reducing poverty on a national scale. These approaches help increase income for the bottom quintile of the population6.
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Agricultural Growth
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Economic Freedom and Global Integration
- Encouraging economic freedom and integrating into global trading networks can create productive economic activities and foster economic growth. This approach has been effective in reducing poverty sustainably and on a large scale9.
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Targeted Cash Transfers
- Implementing targeted cash transfers ensures that the social and economic benefits of poverty reduction initiatives reach the demographics that might otherwise be excluded. This method prioritizes the basic needs of the poor in national development policies5.
Conclusion
Reducing poverty requires a multifaceted approach that includes economic growth, income redistribution, effective tax-benefit policies, entrepreneurship, rural development, microfinance, industrialization, agricultural growth, economic freedom, and targeted cash transfers. Combining these strategies can create a comprehensive framework for sustainable poverty alleviation.
Sources and full results
Most relevant research papers on this topic
Poverty Reduction with Growth and Redistribution
Redistribution of income or growth increments is more effective in reducing poverty than growth alone for a majority of developing countries.
Highly Cited2002·82citations·Hulya Dagdeviren et al.·Development and Change
Development and Change ··DOI
Improving poverty reduction in Europe: What works best where?
Increasing child benefits and social assistance is the most cost-effective way to reduce poverty in most EU countries, while reducing these benefits can increase poverty.
2016·35citations·Chrysa Leventi et al.·Journal of European Social Policy
Journal of European Social Policy ··DOI
Business, Entrepreneurship and Innovation Toward Poverty Reduction
Business, entrepreneurship, and innovation can play a significant role in poverty reduction, but understanding their relationship with modern platforms, digital, and sharing economies is crucial for effective poverty alleviation.
Highly Cited2019·120citations·Steven Si et al.·Entrepreneurship & Regional Development
Entrepreneurship & Regional Development ··DOI
The Challenge of Ending Rural Poverty
IFAD's approach focuses on rural development, focusing on land, water, human capital, improved technology, market access, and institutional reform, to rapidly reduce poverty through employment intensity and local agricultural linkages.
Highly Cited2001·204citations·Atiqur Rahman et al.·Development Policy Review
Development Policy Review ··DOI
Poverty Reduction Strategies in Developing Countries
Poverty reduction in developing countries can be achieved through economic growth, institutional reforms, microfinance programs, and targeted cash transfers.
2022·27citations·Collins Ayoo·Rural Development - Education, Sustainability, Multifunctionality
Rural Development - Education, Sustainability, Multifunctionality ··DOI
Pathways to Poverty Reduction
Industrialisation, rural development, social welfare, and petroleum-generated employment are effective pathways to reduce poverty on a national scale.
2016·12citations·Zahabia Saleem et al.·ERN: Economic Growth & Aggregate Productivity in Developing Economies (Topic)
ERN: Economic Growth & Aggregate Productivity in Developing Economies (Topic) ··DOI
Approaches to Reducing Poverty
Programs to reduce poverty should focus on increasing income for low-income individuals, and adhere to ethical canons.
2007·3citations·A. L. Ferriss·Applied Research in Quality of Life
Applied Research in Quality of Life ··DOI
Effect of Agricultural Growth on Poverty Reduction, its Importance and Suggestions
Agricultural growth is crucial for poverty reduction, as it provides jobs, income, and skills for the rural poor, while improving water management also helps reduce poverty among farmers.
Literature Review2019·17citations·A. Rehman et al.·Transylvanian Review
Transylvanian Review ··DOI
Agricultural Growth and Poverty Reduction: Additional Evidence
Agricultural growth reduces poverty by boosting income for the 40% poorest, with rural areas contributing more than half the overall decline in poverty.
Highly Cited2010·443citations·A. Janvry et al.·World Bank Research Observer
World Bank Research Observer ··DOI