Commodity Cycles, Inequality, and Poverty in Latin America
Departmental Papers, April 26, 2021
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- Commodity Cycles, Inequality, and Poverty in Latin America
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Bibliographic details
- Authors: Ravi Balakrishnan, Sandra Lizarazo, Marika Santoro, Frederik G Toscani, Mauricio Vargas
- Published: April 26, 2021
- Series: Departmental Papers
- DOI: https://doi.org/10.5089/9781484326091.087
Overview and purpose
- Authors: Ravi Balakrishnan, Sandra Valentina Lizarazo, Marika Santoro, Frederik G Toscani, Mauricio Vargas
- Publication date: April 26, 2021
- Aim: Investigates the link between commodity prices and poverty and inequality developments in Latin America.
Key background and trends
- Latin America historically associated with some of the world’s highest levels of inequality.
- In the first decade and a half of the 21st century, Latin America was the only region in the World to have experienced significant declines in inequality.
- Poverty also fell in Latin America during that period, although similar declines occurred in other regions and Latin America started from a relatively low base.
- Starting around 2014, and even before the COVID-19 pandemic, poverty and inequality gains in Latin America had slowed and, in some cases, reversed.
- The COVID-19 shock is likely to dramatically worsen short-term poverty and inequality dynamics.
Subject coverage and keywords
- Subject: Commodities, Income, Income distribution, Income inequality, National accounts, Poverty
- Keywords: Caribbean, Central America, commodity cycle, Commodity Cycles, commodity endowment, commodity exporter, commodity price boom, Equilibrium Models, Headcount ratio, IMF staff calculation, Income, Income distribution, Income inequality, Inequality, latin America, natural resource, Poverty, poverty in Latin America, South America, Western Hemisphere