Bailing Out the World's Poorest

While the 2008 financial crisis is global in nature, it is likely to have heterogeneous welfare impacts within the developing world, with some countries, and some people, more vulnerable than others. It also threatens to have lasting impacts for so...

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Main Author:	Ravallion, Martin
Format:	Policy Research Working Paper
Language:	English
Published:	Washington, DC: World Bank 2012
Subjects:	ADMINISTRATIVE COST ADMINISTRATIVE COSTS AGRICULTURAL TECHNOLOGIES ANTI-POVERTY ANTI-POVERTY PROGRAM ANTI-POVERTY PROGRAMS ANTIPOVERTY PROGRAM ASSET DISTRIBUTION BENEFICIARIES BENEFIT LEVEL BENEFIT LEVELS CASH TRANSFER CASH TRANSFERS CHILD GROWTH CHILD HEALTH CHILD LABOR CHRONIC POVERTY CITIZENS COMMUNITY GROUP COMMUNITY GROUPS COMMUNITY PROJECTS COMMUNITY WORKS CONDITIONAL CASH COPING STRATEGIES COST-EFFECTIVENESS COUNTERFACTUAL CULTURAL CHANGE DEBTS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT GOALS DEVELOPMENT POLICY DROUGHT DURABLE ASSETS DYNAMIC POVERTY EARLY CHILDHOOD EARNINGS ECONOMIC ACTIVITY ECONOMIC COST ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC SHOCKS EGS EMPLOYMENT GUARANTEE EMPLOYMENT GUARANTEE SCHEME EXTERNAL AID EXTERNAL SHOCK EXTRA CASH EXTREME POVERTY FAMILY SIZE FAMINE FARM HOUSEHOLDS FARMERS FIGHT AGAINST POVERTY FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SYSTEM FOOD ITEMS FOOD POLICY FOOD PRICES FOOD SUBSIDIES FOOD-FOR-EDUCATION FOREIGN INVESTMENT FULL EMPLOYMENT FUTURE INCOMES GLOBAL MARKETS HEALTH CARE HIGH INEQUALITY HOUSEHOLD WELFARE HUMAN ASSETS HUMAN RESOURCES IDIOSYNCRATIC RISK IDIOSYNCRATIC SHOCKS IMPACT ON POVERTY INCOME INCOME DISTRIBUTION INCOME GAINS INCOME GROUPS INCOME LOSSES INCOME POVERTY INCOME SUPPORT INCREASE IN INCOME INDICATOR TARGETING INEQUALITY INFANT INFANT MORTALITY INFLATION INFORMATION SYSTEMS INSURANCE INTERNATIONAL FOOD POLICY INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INVESTMENT DECISIONS KIDS LABOR FORCE LABOR MARKETS LABOR SUPPLY LENDERS LIVING CONDITIONS LIVING STANDARDS LOCAL COMMUNITIES LOCAL COMMUNITY LOCAL GOVERNMENTS LOW INCOME LOW-INCOME COUNTRIES MACROECONOMIC STABILITY MAIN ANTI-POVERTY PROGRAM MALNUTRITION MARGINAL TAX RATE MARKET ECONOMIES MARKET FAILURES MARKET WAGE MEANS TEST MEANS TESTING MINIMUM WAGE MINORITY MONETARY POLICIES MORAL HAZARD MUTUAL INSURANCE NATIONAL COVERAGE NATURAL DISASTERS NEW DEAL NUTRITIONAL STATUS PERSISTENT POVERTY POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLICY RESPONSE POLITICAL ECONOMY POLITICAL SUPPORT POOR POOR AREAS POOR COMMUNITIES POOR COUNTRIES POOR FAMILIES POOR HOUSEHOLD POOR HOUSEHOLDS POOR NUTRITION POOR PEOPLE POOR RURAL HOUSEHOLDS POORER PEOPLE POPULATION AND DEVELOPMENT POVERTY GAP POVERTY IMPACT POVERTY INCIDENCE POVERTY LINE POVERTY MAP POVERTY MAPS POVERTY RATE POVERTY REDUCTION POVERTY TRAPS PRIMARY SCHOOL PRIVATE TRANSFERS PRODUCTIVE ASSETS PRODUCTIVITY PROGRESS PUBLIC ACTION PUBLIC GOODS PUBLIC KNOWLEDGE PUBLIC SAFETY NET PUBLIC SAFETY NETS PUBLIC SPENDING PUBLIC WORKS PUBLIC WORKS PROGRAMS RAPID GROWTH RECESSIONS RECIPROCITY RESOURCE CONSTRAINTS RESPECT RESPONSE TO CRISES RISKY BEHAVIOR RURAL RURAL AREAS RURAL DEVELOPMENT RURAL EMPLOYMENT RURAL FAMILIES RURAL POOR RURAL ROADS SAFETY NET SAFETY NET PROGRAMS SAFETY NETS SAVINGS SAVINGS RATES SCHOOL ATTENDANCE SECONDARY SCHOOL SECONDARY SCHOOL LEVEL SELF-INSURANCE SHOCK SOCIAL POLICY SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOCIAL SPENDING STOCKS SUBSIDIZING TARGETING TAXATION TECHNICAL ASSISTANCE TEENAGERS TRANSFER BENEFITS TRANSFER PAYMENT TRANSFER PROGRAM TRANSFERS IN CASH TRANSIENT POVERTY UNEMPLOYMENT UNEMPLOYMENT RATES UNINSURED RISK URBAN POPULATIONS VICTIMS WAGE RATE WAGE RATES WAGE WORK WAGES WEALTH INEQUALITY WEATHER RISKS WITHDRAWAL WORK PROGRAM WORK PROGRAMS WORK REQUIREMENT WORK REQUIREMENTS WORKFARE WORKFORCE WORKS PROJECT WORKS PROJECTS WORTH YOUNG CHILDREN
Online Access:	http://documents.worldbank.org/curated/en/2008/12/10107893/bailing-out-worlds-poorest http://hdl.handle.net/10986/6288

id	okr-10986-6288
recordtype	oai_dc
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institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ADMINISTRATIVE COST ADMINISTRATIVE COSTS AGRICULTURAL TECHNOLOGIES ANTI-POVERTY ANTI-POVERTY PROGRAM ANTI-POVERTY PROGRAMS ANTIPOVERTY PROGRAM ASSET DISTRIBUTION BENEFICIARIES BENEFIT LEVEL BENEFIT LEVELS CASH TRANSFER CASH TRANSFERS CHILD GROWTH CHILD HEALTH CHILD LABOR CHRONIC POVERTY CITIZENS COMMUNITY GROUP COMMUNITY GROUPS COMMUNITY PROJECTS COMMUNITY WORKS CONDITIONAL CASH COPING STRATEGIES COST-EFFECTIVENESS COUNTERFACTUAL CULTURAL CHANGE DEBTS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT GOALS DEVELOPMENT POLICY DROUGHT DURABLE ASSETS DYNAMIC POVERTY EARLY CHILDHOOD EARNINGS ECONOMIC ACTIVITY ECONOMIC COST ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC SHOCKS EGS EMPLOYMENT GUARANTEE EMPLOYMENT GUARANTEE SCHEME EXTERNAL AID EXTERNAL SHOCK EXTRA CASH EXTREME POVERTY FAMILY SIZE FAMINE FARM HOUSEHOLDS FARMERS FIGHT AGAINST POVERTY FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SYSTEM FOOD ITEMS FOOD POLICY FOOD PRICES FOOD SUBSIDIES FOOD-FOR-EDUCATION FOREIGN INVESTMENT FULL EMPLOYMENT FUTURE INCOMES GLOBAL MARKETS HEALTH CARE HIGH INEQUALITY HOUSEHOLD WELFARE HUMAN ASSETS HUMAN RESOURCES IDIOSYNCRATIC RISK IDIOSYNCRATIC SHOCKS IMPACT ON POVERTY INCOME INCOME DISTRIBUTION INCOME GAINS INCOME GROUPS INCOME LOSSES INCOME POVERTY INCOME SUPPORT INCREASE IN INCOME INDICATOR TARGETING INEQUALITY INFANT INFANT MORTALITY INFLATION INFORMATION SYSTEMS INSURANCE INTERNATIONAL FOOD POLICY INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INVESTMENT DECISIONS KIDS LABOR FORCE LABOR MARKETS LABOR SUPPLY LENDERS LIVING CONDITIONS LIVING STANDARDS LOCAL COMMUNITIES LOCAL COMMUNITY LOCAL GOVERNMENTS LOW INCOME LOW-INCOME COUNTRIES MACROECONOMIC STABILITY MAIN ANTI-POVERTY PROGRAM MALNUTRITION MARGINAL TAX RATE MARKET ECONOMIES MARKET FAILURES MARKET WAGE MEANS TEST MEANS TESTING MINIMUM WAGE MINORITY MONETARY POLICIES MORAL HAZARD MUTUAL INSURANCE NATIONAL COVERAGE NATURAL DISASTERS NEW DEAL NUTRITIONAL STATUS PERSISTENT POVERTY POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLICY RESPONSE POLITICAL ECONOMY POLITICAL SUPPORT POOR POOR AREAS POOR COMMUNITIES POOR COUNTRIES POOR FAMILIES POOR HOUSEHOLD POOR HOUSEHOLDS POOR NUTRITION POOR PEOPLE POOR RURAL HOUSEHOLDS POORER PEOPLE POPULATION AND DEVELOPMENT POVERTY GAP POVERTY IMPACT POVERTY INCIDENCE POVERTY LINE POVERTY MAP POVERTY MAPS POVERTY RATE POVERTY REDUCTION POVERTY TRAPS PRIMARY SCHOOL PRIVATE TRANSFERS PRODUCTIVE ASSETS PRODUCTIVITY PROGRESS PUBLIC ACTION PUBLIC GOODS PUBLIC KNOWLEDGE PUBLIC SAFETY NET PUBLIC SAFETY NETS PUBLIC SPENDING PUBLIC WORKS PUBLIC WORKS PROGRAMS RAPID GROWTH RECESSIONS RECIPROCITY RESOURCE CONSTRAINTS RESPECT RESPONSE TO CRISES RISKY BEHAVIOR RURAL RURAL AREAS RURAL DEVELOPMENT RURAL EMPLOYMENT RURAL FAMILIES RURAL POOR RURAL ROADS SAFETY NET SAFETY NET PROGRAMS SAFETY NETS SAVINGS SAVINGS RATES SCHOOL ATTENDANCE SECONDARY SCHOOL SECONDARY SCHOOL LEVEL SELF-INSURANCE SHOCK SOCIAL POLICY SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOCIAL SPENDING STOCKS SUBSIDIZING TARGETING TAXATION TECHNICAL ASSISTANCE TEENAGERS TRANSFER BENEFITS TRANSFER PAYMENT TRANSFER PROGRAM TRANSFERS IN CASH TRANSIENT POVERTY UNEMPLOYMENT UNEMPLOYMENT RATES UNINSURED RISK URBAN POPULATIONS VICTIMS WAGE RATE WAGE RATES WAGE WORK WAGES WEALTH INEQUALITY WEATHER RISKS WITHDRAWAL WORK PROGRAM WORK PROGRAMS WORK REQUIREMENT WORK REQUIREMENTS WORKFARE WORKFORCE WORKS PROJECT WORKS PROJECTS WORTH YOUNG CHILDREN
spellingShingle	ADMINISTRATIVE COST ADMINISTRATIVE COSTS AGRICULTURAL TECHNOLOGIES ANTI-POVERTY ANTI-POVERTY PROGRAM ANTI-POVERTY PROGRAMS ANTIPOVERTY PROGRAM ASSET DISTRIBUTION BENEFICIARIES BENEFIT LEVEL BENEFIT LEVELS CASH TRANSFER CASH TRANSFERS CHILD GROWTH CHILD HEALTH CHILD LABOR CHRONIC POVERTY CITIZENS COMMUNITY GROUP COMMUNITY GROUPS COMMUNITY PROJECTS COMMUNITY WORKS CONDITIONAL CASH COPING STRATEGIES COST-EFFECTIVENESS COUNTERFACTUAL CULTURAL CHANGE DEBTS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT GOALS DEVELOPMENT POLICY DROUGHT DURABLE ASSETS DYNAMIC POVERTY EARLY CHILDHOOD EARNINGS ECONOMIC ACTIVITY ECONOMIC COST ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC SHOCKS EGS EMPLOYMENT GUARANTEE EMPLOYMENT GUARANTEE SCHEME EXTERNAL AID EXTERNAL SHOCK EXTRA CASH EXTREME POVERTY FAMILY SIZE FAMINE FARM HOUSEHOLDS FARMERS FIGHT AGAINST POVERTY FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SYSTEM FOOD ITEMS FOOD POLICY FOOD PRICES FOOD SUBSIDIES FOOD-FOR-EDUCATION FOREIGN INVESTMENT FULL EMPLOYMENT FUTURE INCOMES GLOBAL MARKETS HEALTH CARE HIGH INEQUALITY HOUSEHOLD WELFARE HUMAN ASSETS HUMAN RESOURCES IDIOSYNCRATIC RISK IDIOSYNCRATIC SHOCKS IMPACT ON POVERTY INCOME INCOME DISTRIBUTION INCOME GAINS INCOME GROUPS INCOME LOSSES INCOME POVERTY INCOME SUPPORT INCREASE IN INCOME INDICATOR TARGETING INEQUALITY INFANT INFANT MORTALITY INFLATION INFORMATION SYSTEMS INSURANCE INTERNATIONAL FOOD POLICY INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INVESTMENT DECISIONS KIDS LABOR FORCE LABOR MARKETS LABOR SUPPLY LENDERS LIVING CONDITIONS LIVING STANDARDS LOCAL COMMUNITIES LOCAL COMMUNITY LOCAL GOVERNMENTS LOW INCOME LOW-INCOME COUNTRIES MACROECONOMIC STABILITY MAIN ANTI-POVERTY PROGRAM MALNUTRITION MARGINAL TAX RATE MARKET ECONOMIES MARKET FAILURES MARKET WAGE MEANS TEST MEANS TESTING MINIMUM WAGE MINORITY MONETARY POLICIES MORAL HAZARD MUTUAL INSURANCE NATIONAL COVERAGE NATURAL DISASTERS NEW DEAL NUTRITIONAL STATUS PERSISTENT POVERTY POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLICY RESPONSE POLITICAL ECONOMY POLITICAL SUPPORT POOR POOR AREAS POOR COMMUNITIES POOR COUNTRIES POOR FAMILIES POOR HOUSEHOLD POOR HOUSEHOLDS POOR NUTRITION POOR PEOPLE POOR RURAL HOUSEHOLDS POORER PEOPLE POPULATION AND DEVELOPMENT POVERTY GAP POVERTY IMPACT POVERTY INCIDENCE POVERTY LINE POVERTY MAP POVERTY MAPS POVERTY RATE POVERTY REDUCTION POVERTY TRAPS PRIMARY SCHOOL PRIVATE TRANSFERS PRODUCTIVE ASSETS PRODUCTIVITY PROGRESS PUBLIC ACTION PUBLIC GOODS PUBLIC KNOWLEDGE PUBLIC SAFETY NET PUBLIC SAFETY NETS PUBLIC SPENDING PUBLIC WORKS PUBLIC WORKS PROGRAMS RAPID GROWTH RECESSIONS RECIPROCITY RESOURCE CONSTRAINTS RESPECT RESPONSE TO CRISES RISKY BEHAVIOR RURAL RURAL AREAS RURAL DEVELOPMENT RURAL EMPLOYMENT RURAL FAMILIES RURAL POOR RURAL ROADS SAFETY NET SAFETY NET PROGRAMS SAFETY NETS SAVINGS SAVINGS RATES SCHOOL ATTENDANCE SECONDARY SCHOOL SECONDARY SCHOOL LEVEL SELF-INSURANCE SHOCK SOCIAL POLICY SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOCIAL SPENDING STOCKS SUBSIDIZING TARGETING TAXATION TECHNICAL ASSISTANCE TEENAGERS TRANSFER BENEFITS TRANSFER PAYMENT TRANSFER PROGRAM TRANSFERS IN CASH TRANSIENT POVERTY UNEMPLOYMENT UNEMPLOYMENT RATES UNINSURED RISK URBAN POPULATIONS VICTIMS WAGE RATE WAGE RATES WAGE WORK WAGES WEALTH INEQUALITY WEATHER RISKS WITHDRAWAL WORK PROGRAM WORK PROGRAMS WORK REQUIREMENT WORK REQUIREMENTS WORKFARE WORKFORCE WORKS PROJECT WORKS PROJECTS WORTH YOUNG CHILDREN Ravallion, Martin Bailing Out the World's Poorest
relation	Policy Research Working Paper; No. 4763
description	While the 2008 financial crisis is global in nature, it is likely to have heterogeneous welfare impacts within the developing world, with some countries, and some people, more vulnerable than others. It also threatens to have lasting impacts for some of those affected, notably through the nutrition and schooling of children in poor families. These features point to the need for a differentiated social policy response, aiming to provide rapid income support to those in most need, while preserving the key physical and human assets of poor people and their communities. The paper points out some mistakes in past crisis responses and identifies key design features for safety net programs that can help compensate for the likely welfare losses in the short-term while also promoting longer-term recovery.
format	Publications & Research :: Policy Research Working Paper
author	Ravallion, Martin
author_facet	Ravallion, Martin
author_sort	Ravallion, Martin
title	Bailing Out the World's Poorest
title_short	Bailing Out the World's Poorest
title_full	Bailing Out the World's Poorest
title_fullStr	Bailing Out the World's Poorest
title_full_unstemmed	Bailing Out the World's Poorest
title_sort	bailing out the world's poorest
publisher	Washington, DC: World Bank
publishDate	2012
url	http://documents.worldbank.org/curated/en/2008/12/10107893/bailing-out-worlds-poorest http://hdl.handle.net/10986/6288
_version_	1764399796208009216
spelling	okr-10986-62882021-04-23T14:02:30Z Bailing Out the World's Poorest Ravallion, Martin ADMINISTRATIVE COST ADMINISTRATIVE COSTS AGRICULTURAL TECHNOLOGIES ANTI-POVERTY ANTI-POVERTY PROGRAM ANTI-POVERTY PROGRAMS ANTIPOVERTY PROGRAM ASSET DISTRIBUTION BENEFICIARIES BENEFIT LEVEL BENEFIT LEVELS CASH TRANSFER CASH TRANSFERS CHILD GROWTH CHILD HEALTH CHILD LABOR CHRONIC POVERTY CITIZENS COMMUNITY GROUP COMMUNITY GROUPS COMMUNITY PROJECTS COMMUNITY WORKS CONDITIONAL CASH COPING STRATEGIES COST-EFFECTIVENESS COUNTERFACTUAL CULTURAL CHANGE DEBTS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT GOALS DEVELOPMENT POLICY DROUGHT DURABLE ASSETS DYNAMIC POVERTY EARLY CHILDHOOD EARNINGS ECONOMIC ACTIVITY ECONOMIC COST ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC SHOCKS EGS EMPLOYMENT GUARANTEE EMPLOYMENT GUARANTEE SCHEME EXTERNAL AID EXTERNAL SHOCK EXTRA CASH EXTREME POVERTY FAMILY SIZE FAMINE FARM HOUSEHOLDS FARMERS FIGHT AGAINST POVERTY FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SYSTEM FOOD ITEMS FOOD POLICY FOOD PRICES FOOD SUBSIDIES FOOD-FOR-EDUCATION FOREIGN INVESTMENT FULL EMPLOYMENT FUTURE INCOMES GLOBAL MARKETS HEALTH CARE HIGH INEQUALITY HOUSEHOLD WELFARE HUMAN ASSETS HUMAN RESOURCES IDIOSYNCRATIC RISK IDIOSYNCRATIC SHOCKS IMPACT ON POVERTY INCOME INCOME DISTRIBUTION INCOME GAINS INCOME GROUPS INCOME LOSSES INCOME POVERTY INCOME SUPPORT INCREASE IN INCOME INDICATOR TARGETING INEQUALITY INFANT INFANT MORTALITY INFLATION INFORMATION SYSTEMS INSURANCE INTERNATIONAL FOOD POLICY INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INVESTMENT DECISIONS KIDS LABOR FORCE LABOR MARKETS LABOR SUPPLY LENDERS LIVING CONDITIONS LIVING STANDARDS LOCAL COMMUNITIES LOCAL COMMUNITY LOCAL GOVERNMENTS LOW INCOME LOW-INCOME COUNTRIES MACROECONOMIC STABILITY MAIN ANTI-POVERTY PROGRAM MALNUTRITION MARGINAL TAX RATE MARKET ECONOMIES MARKET FAILURES MARKET WAGE MEANS TEST MEANS TESTING MINIMUM WAGE MINORITY MONETARY POLICIES MORAL HAZARD MUTUAL INSURANCE NATIONAL COVERAGE NATURAL DISASTERS NEW DEAL NUTRITIONAL STATUS PERSISTENT POVERTY POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLICY RESPONSE POLITICAL ECONOMY POLITICAL SUPPORT POOR POOR AREAS POOR COMMUNITIES POOR COUNTRIES POOR FAMILIES POOR HOUSEHOLD POOR HOUSEHOLDS POOR NUTRITION POOR PEOPLE POOR RURAL HOUSEHOLDS POORER PEOPLE POPULATION AND DEVELOPMENT POVERTY GAP POVERTY IMPACT POVERTY INCIDENCE POVERTY LINE POVERTY MAP POVERTY MAPS POVERTY RATE POVERTY REDUCTION POVERTY TRAPS PRIMARY SCHOOL PRIVATE TRANSFERS PRODUCTIVE ASSETS PRODUCTIVITY PROGRESS PUBLIC ACTION PUBLIC GOODS PUBLIC KNOWLEDGE PUBLIC SAFETY NET PUBLIC SAFETY NETS PUBLIC SPENDING PUBLIC WORKS PUBLIC WORKS PROGRAMS RAPID GROWTH RECESSIONS RECIPROCITY RESOURCE CONSTRAINTS RESPECT RESPONSE TO CRISES RISKY BEHAVIOR RURAL RURAL AREAS RURAL DEVELOPMENT RURAL EMPLOYMENT RURAL FAMILIES RURAL POOR RURAL ROADS SAFETY NET SAFETY NET PROGRAMS SAFETY NETS SAVINGS SAVINGS RATES SCHOOL ATTENDANCE SECONDARY SCHOOL SECONDARY SCHOOL LEVEL SELF-INSURANCE SHOCK SOCIAL POLICY SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOCIAL SPENDING STOCKS SUBSIDIZING TARGETING TAXATION TECHNICAL ASSISTANCE TEENAGERS TRANSFER BENEFITS TRANSFER PAYMENT TRANSFER PROGRAM TRANSFERS IN CASH TRANSIENT POVERTY UNEMPLOYMENT UNEMPLOYMENT RATES UNINSURED RISK URBAN POPULATIONS VICTIMS WAGE RATE WAGE RATES WAGE WORK WAGES WEALTH INEQUALITY WEATHER RISKS WITHDRAWAL WORK PROGRAM WORK PROGRAMS WORK REQUIREMENT WORK REQUIREMENTS WORKFARE WORKFORCE WORKS PROJECT WORKS PROJECTS WORTH YOUNG CHILDREN While the 2008 financial crisis is global in nature, it is likely to have heterogeneous welfare impacts within the developing world, with some countries, and some people, more vulnerable than others. It also threatens to have lasting impacts for some of those affected, notably through the nutrition and schooling of children in poor families. These features point to the need for a differentiated social policy response, aiming to provide rapid income support to those in most need, while preserving the key physical and human assets of poor people and their communities. The paper points out some mistakes in past crisis responses and identifies key design features for safety net programs that can help compensate for the likely welfare losses in the short-term while also promoting longer-term recovery. 2012-05-21T20:16:30Z 2012-05-21T20:16:30Z 2008-10 http://documents.worldbank.org/curated/en/2008/12/10107893/bailing-out-worlds-poorest http://hdl.handle.net/10986/6288 English Policy Research Working Paper; No. 4763 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC: World Bank Publications & Research :: Policy Research Working Paper Publications & Research

Bailing Out the World's Poorest

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