In this volume, world-renowned contributors, including Martin Ravallion, Michael Kremer and Robert Townsend, deal with the institutional characteristics of poverty resulting from the time pattern of aid, the nature of financial systems and the political economy of budgetary decisions. Going beyond the traditional literature on poverty, this original book deals with themes of broad interest to both scholars and policymakers in a clear yet technically sophisticated manner.
Departing from conventional methods employed in poverty studies, these innovative essays enquire into the institutional characteristics of poverty, and using current case studies, they examine the crucial idea that periods of crises seriously affect poverty.

Part 1 Part I Issues in macroeconomics and poverty; Can public policies lower poverty?, Ashoka Mody, Catherine Pattillo; Chapter 1 Macroeconomic policies and poverty reduction, Ratna Sahay, Paul Cashin, Paolo Mauro, Catherine Pattillo; Chapter 2 Evaluating the poverty impact of economic policies, François Bourguignon, Luiz A. Pereira da Silva, Nicholas Stern; Chapter 3 Trade, growth, and poverty, Andrew Berg, Anne Krueger; Part 2 Part II Public finances; Chapter 4 Odious debt, Seema Jayachandran, Michael Kremer; Chapter 5 Aid and fiscal management, AleS Bulí?, Timothy Lane; Chapter 6 Who is protected?, Martin Ravallion; Chapter 7 Understanding the evolution of inequality during transition, Ravi Kanbur, Matti Tuomala; Part 3 Part III Finance and trade; Chapter 8 Evaluation of financial liberalization, Xavier Giné, Robert M. Townsend; Chapter 9 Trade reforms and wage inequality in Colombia, Orazio Attanasio, Pinelopi K. Goldberg, Nina Pavcnik; Part 4 Part IV Crises and shocks; Chapter 10 Financial crises, poverty, and income distribution, Emanuele Baldacci, Luiz de Mello, Gabriela Inchauste; Chapter 11 Growth and shocks, Stefan Dercon; Chapter 12 Economic shocks, wealth, and welfare, Elizabeth Frankenberg, James P. Smith, Duncan Thomas Index;

Ashoka Mody are at the International Monetary Fund.
Catherine Pattillo are at the International Monetary Fund.