Growth in Low-Income Countries : Evolution, Prospects, and Policies
There are currently 31 countries classified as low income, less than half the number in 2001. Rapid growth in low-income countries from 2001 to 2018 allowed many to progress to middle-income status, supported by the commodity price boom of 2001-11,...
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okr-10986-321512022-09-20T00:12:28Z Growth in Low-Income Countries : Evolution, Prospects, and Policies Steinbach, Rudi ECONOMIC GROWTH LOW-INCOME COUNTRY POVERTY REDUCTION COMMODITY PRICES TRANSITION ECONOMIES DEBT RELIEF FISCAL POLICY INSTITUTIONS There are currently 31 countries classified as low income, less than half the number in 2001. Rapid growth in low-income countries from 2001 to 2018 allowed many to progress to middle-income status, supported by the commodity price boom of 2001-11, debt relief under the Heavily Indebted Poor Country Initiative and Multilateral Debt Relief Initiative, increased investment in human and physical capital, improved economic policy frameworks, and recoveries from the deep recessions in transition economies during the 1990s. However, the prospects for current low-income countries appear much more challenging. Compared to the low-income countries in 2001 that became middle-income countries, today's low-income countries are further below the middle-income country threshold and more often fragile; their heavy reliance on agriculture makes them vulnerable to climate change and extreme weather events; and their scope to boost external trade is limited by geography. Coordinated and multi-pronged policy efforts are required to address these challenges. 2019-08-01T21:18:51Z 2019-08-01T21:18:51Z 2019-07 Working Paper http://documents.worldbank.org/curated/en/578111564491745775/Growth-in-Low-Income-Countries-Evolution-Prospects-and-Policies http://hdl.handle.net/10986/32151 English Policy Research Working Paper;No. 8949 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper |
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Foreign Institution |
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World Bank Open Knowledge Repository |
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World Bank |
language |
English |
topic |
ECONOMIC GROWTH LOW-INCOME COUNTRY POVERTY REDUCTION COMMODITY PRICES TRANSITION ECONOMIES DEBT RELIEF FISCAL POLICY INSTITUTIONS |
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ECONOMIC GROWTH LOW-INCOME COUNTRY POVERTY REDUCTION COMMODITY PRICES TRANSITION ECONOMIES DEBT RELIEF FISCAL POLICY INSTITUTIONS Steinbach, Rudi Growth in Low-Income Countries : Evolution, Prospects, and Policies |
relation |
Policy Research Working Paper;No. 8949 |
description |
There are currently 31 countries
classified as low income, less than half the number in 2001.
Rapid growth in low-income countries from 2001 to 2018
allowed many to progress to middle-income status, supported
by the commodity price boom of 2001-11, debt relief under
the Heavily Indebted Poor Country Initiative and
Multilateral Debt Relief Initiative, increased investment in
human and physical capital, improved economic policy
frameworks, and recoveries from the deep recessions in
transition economies during the 1990s. However, the
prospects for current low-income countries appear much more
challenging. Compared to the low-income countries in 2001
that became middle-income countries, today's low-income
countries are further below the middle-income country
threshold and more often fragile; their heavy reliance on
agriculture makes them vulnerable to climate change and
extreme weather events; and their scope to boost external
trade is limited by geography. Coordinated and multi-pronged
policy efforts are required to address these challenges. |
format |
Working Paper |
author |
Steinbach, Rudi |
author_facet |
Steinbach, Rudi |
author_sort |
Steinbach, Rudi |
title |
Growth in Low-Income Countries : Evolution, Prospects, and Policies |
title_short |
Growth in Low-Income Countries : Evolution, Prospects, and Policies |
title_full |
Growth in Low-Income Countries : Evolution, Prospects, and Policies |
title_fullStr |
Growth in Low-Income Countries : Evolution, Prospects, and Policies |
title_full_unstemmed |
Growth in Low-Income Countries : Evolution, Prospects, and Policies |
title_sort |
growth in low-income countries : evolution, prospects, and policies |
publisher |
World Bank, Washington, DC |
publishDate |
2019 |
url |
http://documents.worldbank.org/curated/en/578111564491745775/Growth-in-Low-Income-Countries-Evolution-Prospects-and-Policies http://hdl.handle.net/10986/32151 |
_version_ |
1764475904962068480 |