The paper "Policy Prescriptions that Could be Enacted to Counter Extreme Poverty in Africa" is a good example of a micro and macroeconomic case study. Poverty is a multifaceted concept as thus has no universally agreed meaning. One of the definitions of poverty is that it is a “ problem in unmet human physical needs” . That is, people are said to be poor when they lack the services and goods that are necessary to support and sustain life and the income to buy services and goods what would satisfy those needs (Edegbe, 2014). Worldwide poverty measured by the number of people living on less than $1.25 per day has been declining since the 1980s (World Bank, 2010).
The proportion of the population subsisting on under $1.25 per day fell by ten percentage points to 42 per cent in 1990 and then dropped another 17 percentage points from 1990 to 2005. The number of individuals who live in extreme poverty declined from 1.9 billion to 1.4 billion between 1981 and 2005 (World Bank, 2010). It is also noted that from 1990 to 2010, the number of people living in extreme poverty across the world fell by almost one billion people (“ The world’ s next great leap forward, ” 2013).
However, according to the World Bank (2010), the considerable decline in extreme poverty over the period between the 1990s and the 2000s conceals large regional differences. In particular, a recent report by the World Bank Group titled “ Poverty in a Rising Africa” suggests that although Africa has experienced a significant improvement in economic growth since the mid-1990s, a big proportion of the population in the continent “ continues to live below the international poverty line of $1.90 a day” (Beegle, Christiaensen, Dabalen & Gaddis, 2016, p.
21). For example, although the rate of poverty in Africa declined from 57 percent to 43 percent between 1990 and 2012, the number of poor people in the continent rose from 288 million to 389 million over the same period (Beegle et al. , 2016). The number of people living in extreme poverty was even higher in 2016. The reality is that measures to reduce poverty in Africa significantly lag those in other developing nations (Beegle et al. , 2016).
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