Risk Management in South Asia : A Poverty Focused Approach

In recognition that poverty and vulnerability are mutually reinforcing, because the poor lack the ability to insure against risks, often shaping behavior and decision making to minimize exposure to risks, even at the cost of economic efficiency, and long-term interest, this paper reviews what is known about the risk-coping, and risk-mitigating behavior of the poor in South Asia. It examines the support received from the governments, and nongovernmental organizations, as well as the Bank's contributions, and, presents suggestions for a strategy to reduce poverty, and efforts to overcome risk. Analytical work classifies the risks that threaten different vulnerable groups, or poor households, according to poverty incidence and severity, and, a similar effort evaluates both the risk-reducing impact of anti-poverty programs, and the performance and potential of less traditional approaches, such as micro-finance. On assessing government programs, the study evaluates the role, impact, and potential of policy mechanisms, or strategies commonly used in the region, reviewing welfare programs in public works, transfers in cash or kind, innovative programs for savings and insurance services, and pension reforms, as well as how to expand such programs. The study argues on the need for a comprehensive social protection strategy that can address both poverty, and vulnerability, identifying the priorities of vulnerable groups, and specific risks, to then develop an implementation structure, and institutional reforms that expand market opportunities which facilitate formal mechanisms for risk management.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2001-11
Subjects:	POVERTY ASSESSMENTS, POVERTY REDUCTION, VULNERABILITY, RISK ASSESSMENT, RISK EVALUATION, RISK MANAGEMENT, POVERTY INCIDENCE, ABSOLUTE POVERTY, POVERTY MITIGATION, POVERTY REDUCTION STRATEGIES, RISK AVERSION, SOCIAL ASSISTANCE PROGRAMS, WELFARE WORK PARTICIPATION, MICROFINANCE, POLICY FRAMEWORK, CASH SOCIAL TRANSFERS, SAVINGS BEHAVIOR, INSURANCE SURVEYS, PENSION REFORM, SOCIAL SAFETY NETS, SOCIAL ACTION PROGRAMS, INSTITUTIONAL REFORM, MARKET ACCESS ADVERSE SELECTION, ANALYTICAL WORK, CASH TRANSFER PROGRAMS, CASH TRANSFERS, CHILD ALLOWANCES, CHILD LABOR, COMMERCIAL BANKS, COMMUNITY LEVEL, CONFLICT, CONSUMPTION SMOOTHING, DEREGULATION, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPMENT PROGRAMS, DEVELOPMENT STRATEGY, DISTORTED INCENTIVES, DROUGHT, ECONOMIC EFFICIENCY, ECONOMIC FACTORS, ECONOMIC GROWTH, EGS, EMPLOYMENT PROGRAMS, EXTERNALITIES, FARMS, FINANCIAL INSTRUMENTS, FINANCIAL SECTOR, FINANCIAL SERVICES, FOOD STAMPS, FORMAL INSTITUTIONS, GNP, GROSS NATIONAL PRODUCT, HOUSEHOLD SURVEY, HUMAN DEVELOPMENT, INCOME, INCOME COUNTRIES, INDIVIDUAL COUNTRIES, INFORMAL NETWORKS, INFORMAL SECTOR, INSTITUTIONAL ARRANGEMENTS, INSTITUTIONAL CAPACITY, INSTITUTIONAL CHANGES, INSTITUTIONAL DEVELOPMENT, INSTITUTIONAL FRAMEWORK, INSURANCE, INSURANCE MARKETS, INTEREST RATES, INTERNATIONAL LABOUR, INVENTORIES, LABOR MARKET, LABOR MARKETS, LIVING CONDITIONS, MARKET FAILURES, MICROFINANCE INSTITUTIONS, MORAL HAZARD, NATIONAL POVERTY, NATIONAL POVERTY LINES, OLD AGE, POLICY INSTRUMENTS, POOR, POOR HOUSEHOLDS, POVERTY ALLEVIATION, POVERTY FOCUS, POVERTY LINE, POVERTY LINES, POVERTY PROGRAMS, POVERTY REDUCTION STRATEGY, PRIORITY AREAS, PRODUCTIVITY, PUBLIC EXPENDITURE, PUBLIC FUNDS, PUBLIC POLICY, PUBLIC SAFETY NETS, PUBLIC WORKS, PUBLIC WORKS PROGRAMS, PURCHASING POWER, PURCHASING POWER PARITY, REDUCING POVERTY, REDUCTION POLICY, REGULATORY FRAMEWORK, RESEARCH INSTITUTE, RISK REDUCTION, RURAL AREAS, RURAL POOR, RURAL POPULATION, SAFETY NET, SAFETY NET MEASURES, SAFETY NET PROGRAMS, SAFETY NETS, SAVINGS, SOCIAL ASSISTANCE, SOCIAL DEVELOPMENT, SOCIAL POLICY, SOCIAL PROTECTION, SOCIAL SECURITY, TARGETED TRANSFERS, TARGETING, TARGETING EFFICIENCY, TECHNICAL ASSISTANCE, TRANSFER BENEFITS, UNEMPLOYMENT, VULNERABLE GROUPS, WAGES, ZAKAT,
Online Access:	http://documents.worldbank.org/curated/en/2001/11/1687167/south-asia-risk-management-south-asia-poverty-focused-approach https://hdl.handle.net/10986/15449
Tags:	Add Tag No Tags, Be the first to tag this record!