Overcoming Poverty and Social Inequality in Third World Countries (Latin America, Africa)
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Date
2021
Authors
Drobotya, Y. A.
Baldzhy, Maryna
Pecheniuk, Alla
Savelchuk, Iryna
Hryhorenko, Dmytro
Kulinich, Tetiana
Дроботя, Яна Анатоліївна
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Abstract
Description
The relevance of the research is due to the fact that the issue of
poverty is one of the most acute social problems of the beginning
of the third millennium. The phenomenon of poverty is widespread
in third world countries as well as it is observed in relatively
developed countries. Poverty rates in Latin America are
threatening. Consequently, the issue of social and economic
inequality in these countries has become extremely acute. The
purpose of the research: to identify the causes of poverty and social
inequality and substantiate the main directions of poverty
reduction in third world countries. The research methods:
comparative analysis; index method; systematization; grouping;
generalization. Results. The classification of the causes of poverty
has been carried out and the directions of its overcoming in the
countries of Latin America on groups of indicators have been
defined, namely: 1) political; 2) economic; 3) demographic; 4)
regional-geographical; 5) social; 6) qualification; 7) personal.
Based on the Net Domestic Product indicator, a comparison of
economic indicators of the studied countries has been carried out.
It has been revealed that from 1990 to 2018 income inequality
increased in 52 of 119 countries studied, and decreased in 57 states.
Inequality has increased in the world’s most populous countries,
particularly China and India. In general, countries with growing
inequality are home to more than two-thirds (71%) of the world’s
population. Trends in the distribution of income in the world have
been investigated by applying the Gini index, the high level of
which is observed in Latin America (Colombia 48,9%, Panama
46,1%, Chile and Mexico 45,9%). The forecast of the impact of
the Covid-19 pandemic on this issue has been outlined; the ways
of its impact on the economies of the countries have been studied.
As a result of the study, the main directions and mechanisms of
the strategy for poverty reduction and social inequality in the third
world countries have been identified. The implementation of the
poverty reduction strategy presented in this academic paper may
have a positive impact on the economic situation of the population
of Latin American countries.
Keywords
Poverty, Social Inequality, Poverty Reduction, Income Poverty Line, Income Distribution.