Impacts of Financial, Food, and Fuel Crisis on the Urban Poor

The effects of the recent financial crisis are only beginning to be felt in many developing countries, but economic activity is declining rapidly with far reaching impacts. This crisis comes at a time when most countries are still struggling with the impacts of rising food and fuel prices. Though global food and fuel prices have softened somewhat in recent months from the highs earlier in 2008, there has been much volatility and they are anticipated to remain high over the medium term. It is estimated that the high food and fuel prices alone have increased the number of extremely poor in the world by at least 100 million. While impacts of the crises affect both urban and rural populations, the urban poor have been hit hardest in this recent food and fuel crisis, and in previous financial crisis, given their heavy reliance on the cash economy, no agricultural production to fall back on, and wage reductions and employment losses at urban based industries. This has resulted in social unrest in a number of cities earlier in 2008 all over the developing world.

Bibliographic Details

Main Author:	Baker, Judy L.
Language:	English
Published:	World Bank, Washington, DC 2008-12
Subjects:	AGRICULTURAL PRODUCTION, AGRICULTURE, AIR, AUTOMOTIVE INDUSTRY, BASIC EDUCATION, BUTTER, CA, CASH TRANSFERS, CHEMICAL FERTILIZERS, COMMUNITY DEVELOPMENT, COMMUNITY INFRASTRUCTURE, DEVELOPING COUNTRIES, ECONOMIC GROWTH, EDUCATIONAL ATTAINMENT, ELDERLY, ENVIRONMENTAL SUSTAINABILITY, EXTREME POVERTY, FINANCIAL SERVICES, FLOUR, FOOD DISTRIBUTION, FOOD PRICES, FOOD PRODUCTS, FOOD RIOTS, FOOD STAMPS, FRUIT, FUEL, FUEL PRICES, FUELS, FUTURE GENERATIONS, GASOLINE, GENDER DISPARITY, HEAVY RELIANCE, HUMAN CAPITAL, HUMAN DEVELOPMENT, IMMIGRANTS, INCOME, INCOME DISTRIBUTION, INCOME SUPPORT, INDOOR AIR POLLUTION, INFORMAL SETTLEMENTS, IRRIGATION, JOB LOSSES, LOW INCOME, MALNUTRITION, MIGRANTS, MIGRATION, MUNICIPAL GOVERNMENT, NATIONAL LEVEL, NEW POOR, NUTRITION, ON URBAN POVERTY, POOR, POOR AREAS, POOR WOMEN, POVERTY REDUCTION, PUBLIC INFRASTRUCTURE, PUBLIC WORKS, REMITTANCE, REMITTANCES, RICE, RURAL, RURAL AREAS, RURAL EMPLOYMENT, SAFETY, SAFETY NETS, SANITATION, SLUM UPGRADING, SOCIAL IMPACTS, SOCIAL SAFETY NETS, SOCIAL UNREST, TARGETING, TRANSPORT, TRANSPORT COSTS, TRANSPORTATION, TRANSPORTATION SERVICES, UNEMPLOYMENT, UNEMPLOYMENT RATE, URBAN AGRICULTURE, URBAN AREAS, URBAN DEVELOPMENT, URBAN HOUSEHOLDS, URBAN NEIGHBORHOODS, URBAN POOR, URBAN POPULATION, URBAN POVERTY, URBAN RESIDENTS, VEGETABLES, VULNERABLE GROUPS,
Online Access:	http://documents.worldbank.org/curated/en/2008/12/10208527/impacts-financial-food-fuel-crisis-urban-poor https://hdl.handle.net/10986/10263
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