On the Poverty Dynamics in Colombia, 2002-2012
Keywords:
sectorial decomposition, poverty rate, unemployment, Inequality, economic growthAbstract
In this work we are interested in investigating the dynamics of poverty in Colombia during the period 2002-2012. In particular we want to know the effect of the sectorial economic growth, the geographical composition, public social spending, the unemployment rate and the income distribution on poverty. The empirical strategy is based on a simple panel data specification, including fixed effects by department. This model relates different measures of poverty to economic growth, measured by GDP disaggregated by primary, secondary and tertiary sectors. Our results suggest that the pattern of growth and geographical differences are important for reducing poverty. In addition, we obtain evidence that implies on one hand that the unemployment rate and income inequality are responsible for persistent poverty rates, and on the other hand, social expenditures reduces poverty.
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