Poverty and the Welfare Costs of Risk Associated with Globalization

Ethan Ligon

No RP2005-57, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: 'Globalization' implies change, and uncertainty over future change may affect household welfare. We use data on Lorenz curves over the last fifty years for a sample of 53 (mostly developing) countries. Treating each country-quintile-year as an observation, we first account for variation in consumption expenditures, finding that global shocks are of less importance than country-level shocks in explaining variation in country-quintile consumption growth. While poorer households experience more rapid consumption growth than do wealthier households, they also bear much more risk.

Keywords: Consumption; Econometric models (Economic development); Globalization; Macroeconomics; Poverty (search for similar items in EconPapers)
Date: 2005
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Journal Article: Poverty and the welfare costs of risk associated with globalization (2006)
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