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Poverty is the lack of, or the inability to achieve socially acceptable standard of living. [34] Officially, there is no poverty line put in place for Nigeria but for the sake of poverty analysis, the mean per capita household is used. So, there are two poverty lines that are used to classify where people stand financially.
The World Bank defines poverty in absolute terms. The bank defines extreme poverty as living on less than US$1.90 per day. [2] , and moderate poverty as less than $3.10 a day. It has been estimated that in 2008, 1.4 billion people had consumption levels below US$1.25 a day and 2.7 billion lived on less than $2 a day.
From 1993 through 2005, the World Bank defined absolute poverty as $1.08 a day on such a purchasing power parity basis, after adjusting for inflation to the 1993 US dollar [16] In 2009, it was updated as $1.25 a day (equivalent to $1.00 a day in 1996 US prices) [17] [18] and in 2015, it was updated as living on less than US$1.90 per day, [19 ...
The causes of poverty may vary with respect to nation, region, and in comparison with other countries at the global level. Yet, there is a commonality amongst these causes. Philosophical perspectives and especially historical perspectives, including some factors at a micro and macro level can be considered in understanding these causes. [1]
Sen poverty measure combines the Gini coefficient for people living below the poverty line with headcount ration of poverty and the average income of these below the poverty line. [20] This measure has been developed by Nobel Prize winner Amartya Sen but has not yet been used in the field of income inequality hypothesis.
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
Bank of America said its four-year commitment will include programs such as virus testing and other health services, especially focusing on communities of color, support to minority-owned small ...
"Inside the World Bank's new inequality indicator: The number of countries with high inequality". World Bank. {}: CS1 maint: multiple names: authors list ; Global Peace Index Map of Gini data for 2007–2010; Shadow economies all over the world : new estimates for 162 countries from 1999 to 2007. Friedrich Schneider, Andreas Buehn, Claudio E ...