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SOC135 Global Economic Issues

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  • Course Code: SOC135
  • University: Seneca College
  • Country: Canada

Question:

1.You are assigned to a theme group. The ‘Theme’ is your broad topic. For example, if you are in war and conflict group, your main theme is ‘war and conflict’.
2.You need to narrow down this theme to a specific topic area to make your bibliography focused. For example, you will decide which war or conflict is of interest to you, or which specific case you want to explore more through the Annotated Bibliography.
3.A template for Annotated Bibliography is also posted on Blackboard, course web site.
4.Complete an Annotated Bibliography, please do the followings:
a.Find minimum 3 scholarly journal articles.
b.Using MLA referencing style write a critical summary.
i.The summary should be in 2 paragraphs, double spaced for each of the 3 articles.
ii. You should write a separate summary for each article. In each summary you must include 3 key points from the article you have read.
c.You must cite the source in the 1st line of each summary using MLA style of referencing.
d.Follow the guidelines available on the Seneca Library and link available on how to write an ‘Annotated Bibliography’.
 
 

Answer:

Introduction:

Francisco H.G Ferreira and Martine Ravallion, member of the Development Research Group World Bank, focused on two major problems of the world. These are global poverty and income inequality. To establish a correlation between poverty and indices of inequality of both developed and developing countries, authors collected data from household surveys from 130 countries. In the first part of their paper, authors discussed about their poverty and inequality data. They also presented evidence related to levels and recent trends related to worldwide poverty and inequality of income. Second part of this paper analysed about various issues that were involved in aggregating inequality indices of various countries. This analysis helped them to construct a meaningful measurement of global inequality and pointed out on unequal conditions of health and education, globally.

In the third part of this report, they discussed about the empirical relationship of economic growth with poverty and inequality dynamics. After analysing all factors, they concluded that absolute poverty is a serious issue especially for developing countries. Those developing countries possessed maximum population. However, they faced income inequality and less development. They also analysed about the impact of persistent inequality in developing countries.

Dean Jolliffe and Espen Beer Prydz are the team members of the Development Economics Research Group of the World Bank. In this research paper, both researchers tried to find out whether purchasing power parity (PPP) had any importance to calculate the global poverty estimation. The data of PPP of 2005 showed that the number of poor was increasing globally. However, the data related to price of the year 2011 represented another result. The incomes of developing countries in terms of PPP-adjusted dollars are high compare to 2005. Hence, this data implied that the total number of poor people decreased, all over the world. Moreover, their findings and analysis suggested that the number of global poverty would be omitted by 2030.

 

In this paper, both authors developed a set of “equivalent poverty lines” for each country in terms of PPP of 2011. This set corresponded with the poverty lines of PPPs of 2005. After analysing the overall data set, this paper tried to find out answers related to some questions. They answered that whether new data set of PPP had any impact on global poverty estimates or not and the way of influence. Their outcomes differed from the view that changes of PPP data could not change poverty estimation.

Gabrielo Kessler and Maria Mercedes Di Virgilio have written their paper, based on new urban poverty. This article focused on various dimensions related to poverty of urban of 1980s and 1990s. Before its chief analysis, writers described about various definitions of poverty in terms of some developed countries. However, they examined the case study of Argentina and focused on the extreme poverty condition of middle class people of that country during the year 1970s and 2001.

To describe the entire process of losing wealth and becoming poor, they used the concept “structural poverty”. After discussing every aspects regarding poverty in Argentina, they concluded that a new poor people faced a transformation and some specific challenges related to public policy.

 

References:

Ferreira, Francisco H.G., and Ravallion, Martin.“Global Poverty and Inequality : A Review of the Evidence.” Policy Research Working Paper, No. 4623. World Bank, Washington, DC. © World Bank. License: CC BY 3.0 IGO, https://openknowledge.worldbank.org/handle/10986/6675. 2008.

Jolliffe, Dean Mitchell., and Prydz, Espen Beer. “Global Poverty Goals and Prices : How Purchasing Power Parity Matters.” Policy Research Working Paper;No. 7256. World Bank, Washington, DC. © World Bank. License: CC BY 3.0 IGO, https://openknowledge.worldbank.org/handle/10986/21988. 2015.

Kessler, Gabriel, and María Mercedes Di Virgilio. “The New Urban Poverty: Global, Regional and Argentine Dynamics during the Last Two Decades.” Economic Commission for Latin America and the Caribbean - ECLAC United Nations (CEPAL).pp.31-50, 2008.

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