The developing world's bulging (but vulnerable) "middle class"

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The developing world's bulging (but vulnerabl ...
Martin Ravallion
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October 29, 2020 | History

The developing world's bulging (but vulnerable) "middle class"

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"The "developing world's middle class" is defined here as those who are not poor when judged by the median poverty line of developing countries, but are still poor by US standards. The "Western middle class" is defined as those who are not poor by US standards. Although barely 80 million people in the developing world entered the Western middle class over 1990-2002, economic growth and distributional shifts allowed an extra 1.2 billion people to join the developing world's middle class. Four-fifths came from Asia, and half from China. Most of the new entrants remained fairly close to poverty, with incomes now bunched up just above $2 a day. The vulnerability of this new middle class to aggregate economic contractions is evident in the fact that one in six people in the developing world live between $2 and $3 per day. Over time, the developing world has become more sharply divided between countries with a large middle class and those with a relatively small one, with Africa prominent in the latter group. Poor people in countries with smaller middle classes may well be more exposed to slowing economic growth. "--World Bank web site.

Publish Date
Publisher
World Bank
Language
English

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Cover of: The developing world's bulging (but vulnerable) "middle class"

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Book Details


Published in

[Washington, D.C

Edition Notes

Title from PDF file as viewed on 5/8/2009.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.

Series
Policy research working paper -- 4816, Policy research working papers (Online) -- 4816.

Classifications

Library of Congress
HG3881.5.W57

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL23232742M
LCCN
2009655613

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October 29, 2020 Edited by MARC Bot import existing book
January 31, 2010 Edited by WorkBot add more information to works
December 9, 2009 Created by WorkBot add works page