Structure Of Income Inequality And Poverty In Nigeria Pdf
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- Economic inequality
- Poverty in Nigeria
- Causes of poverty and inequality
- THE EFFECT OF GOVERNMENT EXPENDITURE ON INCOME INEQUALITY AND POVERTY IN INDONESIA
Nigeria had one of the world's highest economic growth rates, averaging 7.
This article features the analysis and comparative assessment of a set of studies on the dynamics and drivers of and policy responses to inequalities in the context of structural transformation in Africa, including an overview paper, seven country studies, and a paper on gendered assets inequalities, all published in abridged versions in Development 57 3—4 Armah et al. Drawing from these studies, it explores the conceptual frameworks, the key domains and the main drivers of inequalities. It further examines recent policy interventions and outlines policy implications, providing a preliminary basis for setting an agenda for research and advocacy to support African and country efforts to tackle the deepening inequalities and achieve structural transformation. These are as follows: a how to address the persistent and worsening problem of inequalities in access to resources and opportunities and in development outcomes? In Africa, the growing inequality in income, wealth, access to social services and decent employment in the midst of consistent economic growth in the last decade has become a matter of grave concern Armah et al.
Nigeria had one of the world's highest economic growth rates, averaging 7. In during its first recession in 25 years, the economy contracted by 1. Poverty in Nigeria can also be caused by the political instability of the country. However, these programs have largely failed to overcome the three reasons  for this persistent poverty: income inequality , ethnic conflict , and political instability. As at , the Gini coefficient of Nigeria is rated medium, at 0. This incongruence is compounded by the fact that oil revenue is poorly distributed among the population, with higher government spending in urban areas than rurally.
Inequality is at the forefront of the economic policy debate in much of the world. This interest comes in the wake of the sizable increases in income disparities that many have seen during the past three decades or so, combined now with the need to deal with the continuing and severe consequences of the global economic and financial crisis. Policymakers face difficult challenges in understanding how to deal with trade-offs—or exploit complementarities—between their distributional concerns and other economic policy objectives, such as achieving high rates of economic growth and sustainable public finances. The aim of this book is to present recent research results that can help them address these challenges. Research on the causes and consequences of rising inequality has flourished in recent years, taking advantage of the growing availability of large micro data sets and of data covering longer time spans for an increasing sample of countries. A key feature of the book is its focus on the design of fiscal policies in such circumstances.
Poverty in Nigeria
Metrics details. Financial inclusion is a key element of social inclusion, particularly useful in combating poverty and income inequality by opening blocked advancement opportunities for disadvantaged segments of the population. This study intends to investigate the impact of financial inclusion on reducing poverty and income inequality, and the determinants and conditional effects thereof in developing countries. The analysis is carried out using an unbalanced annual panel data for the period of — For this purpose, we construct a novel index of financial inclusion using a broad set of financial sector outreach indicators, finding that per capita income, ratio of internet users, age dependency ratio, inflation, and income inequality significantly influence the level of financial inclusion in developing countries. Furthermore, the results provide robust evidence that financial inclusion significantly reduces poverty rates and income inequality in developing countries.
The incidence of poverty is evidenced among rural farm households in developing societies. As a result of persistence poverty among rural farm households, there is sudden upsurge in agricultural livelihood diversification and rural-urban migration resulting in high rate of urban unemployment. To help generate suitable policThe incidence of poverty is evidenced among rural farm households in developing societies. To help generate suitable policy variables to help tackle this rampaging issue in the South- south region of Nigeria, this study specifically analyzes poverty and income inequality as well as identified determinants of poverty among rural farm households in Akwa Ibom State, Nigeria. Data were collected from rural farm household heads spread across the rural areas of the State.
There are wide varieties of economic inequality , most notably measured using the distribution of income the amount of money people are paid and the distribution of wealth the amount of wealth people own. Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people. Important types of economic measurements focus on wealth , income , and consumption. There are many methods for measuring economic inequality,  with the Gini coefficient being a widely used one. Another type of measure is the Inequality-adjusted Human Development Index , which is a statistic composite index that takes inequality into account.
literature shall be gleaned for related findings on the relationship between income inequality,. poverty and economic growth in Nigeria.
Causes of poverty and inequality
Economists use various metrics for measuring income inequality. Here, the most commonly used measures—the Lorenz curve, the Gini coefficient, decile ratios, the Palma ratio, and the Theil index—are discussed in relation to their benefits and limitations. Equally important is the choice of what to measure: pre-tax and after-tax income, consumption, and wealth are useful indicators; and different sources of income such as wages, capital gains, taxes, and benefits can be examined. Understanding the dimensions of economic inequality is a key first step toward choosing the right policies to address it.
Some people imagine that in a rich region like the EU no one can be poor or if they are it must be the result of some personal failings or problems. However, this is not the case.
THE EFFECT OF GOVERNMENT EXPENDITURE ON INCOME INEQUALITY AND POVERTY IN INDONESIA
In an unequal and fragile economy such as Nigeria, providing for the extreme poor, marginalized, disadvantaged, less privileged and vulnerable is still seen by elites as providing for the unproductive segment. This notion seems to be one of the reasons why the elites in government have not done much to scale down poverty and inequality. The study estimates the poverty impact of variations in within-group and between-group inequality using two sequential household survey data, the harmonized national living standard survey, and the national living standard survey,
The relationship between income inequality and economic growth is undoubtedly intricate as inequality can promote the effective functioning of the economy and provide incentives required for investment and growth. It could, on the other hand, amplify the risk of crisis and pose a serious difficulty for the poor to invest in education, thereby constituting a threat to the economic growth process. It has generated a series of protests in the Middle East and North Africa MENA region since , with unprecedented demand for more economic and political inclusion, as several individuals can no more bear the prevailing gross socioeconomic inequality [ Ncube et al. The rise in the concern over the widening gap between the rich and the poor also led to the Occupy Wall Street movement, 1 as well as motivating a series of backlashes against international trade in many industrialized nations. Economists across the world remain perturbed as the lopsidedness in the sharing of growth dividend can undermine the support required for progrowth policies and could probably lead to political instability [ Yang and Greaney, ]. These channels are as follows: the saving channel, the credit market imperfection channel, the human capital investment channel, the political economy or fiscal policy channel, the fertility differential channel, and the sociopolitical instability channel. Emerging trends on the inequality—growth nexus for Africa indicate rising levels of income inequality in the region, which poses serious and potential challenges for the economic growth in Africa.
Existing studies have shown that income inequality remains a core determinant of population health. However, this assertion remains unclear for Sub-Saharan Africa SSA , despite the rising trend of income disparity in the region and the vastness of the studies that tested the validity of the IIHH. This inferential study, therefore, examines the effect of income inequality on health for 31 Sub-Saharan African countries from to using life expectancy at birth, infant mortality rate, and under-five mortality rate as indicators of population health, as well as the Gini index as a measurement of income inequality. We infer that income inequality contributes significantly to poor population health in Sub-Saharan Africa, thereby affirming the validity of the Income Inequality-Health Hypothesis for the region. Quick jump to page content. Home Archives Vol.