The Poverty And Poor Economic Infrastructure - 2224 Words

CHAPTER ONE INTRODUCTION Throughout the world, it has become increasingly noticeable in recent decades that the gap between the developed and developing nations of the world continues to widen to an almost unfathomable proportion. This truth is not only been seen from an individual wage earner’s perspective, as it is truly a regional and global economic phenomenon (Ojo and Gaul (2012)) . It is no secret that much of the world has been concerned over the course of the past century with the amount of poverty that is existent in various parts of the globe, and how the rate of poverty seems to only be increasing. Consider the abject poverty and poor economic infrastructure that has been endemic to the countries of Africa for all of the modern era. According to Ana (2007) one of the primary reasons limiting economic expansion in countries such as Nigeria is that basic lack of access to financial capital that is necessary to usher in an era of expansion and prosperity. Since it is now a near universal reality that locally owned small and medium sized enterprises can rarely expand at a level that supports sustainable growth over a long period of time, microfinance has become a most sought after option that should be considered in Nigeria due to the cumbersome process involved in acquired loans from commercial banks and in the end only credit worthy clients loans are approved leaving the poor majority of the population unenthusiastic in entrepreneurship. There are manyShow MoreRelatedConventional Wisdom Dictates That Improving Agricultural Productivity951 Words   |  4 Pagesproductivity, either through irrigation projects or the introduction of genetically modified crops, is the key step in ending rural poverty in sub-Saharan poverty. Our research overturns this assumption. By using a global poverty map and standard soil productivity measures, we find that the regions in sub-Saharan Africa with better soil quality actually experience higher rates of po verty. Our dataset consisted of 5334 subnational units from 46 sub-Saharan African countries. For soil quality, we used a seven-dimensionRead MoreInsular Poverty Essay1448 Words   |  6 PagesEnglish 102 Insular Poverty 11/3/2012 Nobody wants to be considered to be below the poverty line. Unfortunately, for fourteen percent of the people in this country, that is their reality. Fourteen percent of the people currently living in the United States’ basic needs for food, clothing, and shelter are not being met. Poverty is experienced at different levels in different parts of the country. The causes and effects of insular poverty are experienced differently in rural and urban areas in theRead MoreCan Micro Loans Help Reduce Poverty in Developing Countries? Essay1176 Words   |  5 PagesMicro Loans in Developing Countries: Can Micro Loans help in Reduce Poverty The word poverty came from the Anglo-Norman word povert. Poverty is predominantly seen in the developing nations. Poverty is a where people lack their basic capacity to participate effectively in society i.e. Not having enough money to provide food and clothes to their family, not being able to work and earn for themselves. There are many reasons for poverty in developing countries some of them include overpopulation, unevenRead MoreThe Negative Impacts Of International Financial Institutions In Africa, Africa991 Words   |  4 Pagesâ€Å"We are wealthy, yet we are poor,† said Wylbur Simuusa, the Minister of Mines in Zambia, Africa (THE WHY, 2013). Africa is rich in abundance of natural resources. The governments of some regions in the country received aids from International financial institutions (IFI) – and the International Monetary Fund (IMF) and the World Bank (WB) – to increase productivity and industrial capacities to boost their economic growth fast er. However, there has been a huge negative impact on the conditions of localRead MoreHow Can African Nations Achieve Economic Growth? Essay1104 Words   |  5 Pagescome to mind when thinking are unstable governments, poverty, and starving people. The concepts that were thought up belong to a world unknown to citizens of a first world or rather â€Å"developed† nation. Many of the globes not as advanced or â€Å"developing† nations find their place in Africa. These countries must improve upon basic fundamentals in order to be considered a developing nation. For example, a country must substantially reduce poverty in hopes of achieving their desired status. In order forRead MoreThe Development Of Rural Development1405 Words   |  6 PagesRural development can be referred to as actions and initiatives to improve the socio-economic life in villages and non-urban neighborhoods. It involves provision of social, physical, and institutional infrastructural facilities. Agr icultural development is transforming from a traditional level to a market oriented one. According to Okonkwor (1987), agricultural development is a process of change not fully from the traditional and subsistence mode to more productive and commercialized enterprisesRead MoreAfrican Poverty And Its Effects On African Africa1695 Words   |  7 Pagesdevelopment Africans. African poverty has become something normal as if there is nothing can be done. Africans income has always been low compared to the rest of the world, mostly sub-Saharan countries are struggling with poverty. It is estimated that around half of Sub-Saharan Africans live on under $1 a day. 32 of the 48 poorest countries in the world are in the sub-Saharan region. More needs to be done by African countries to combat the numerous causes of poverty such as Limited credit, War, andRead MoreAnalysis Of Pnpm Policy By In Indonesia765 Words   |  4 PagesIntroduction The problem of poverty is a social phenomenon found in many regions in Indonesia. Hence, various efforts have been made by Indonesian government to overcome poverty and construct strong economic growth through health, education, and infrastructures. The policy to cut down poverty actually has been started for more than four decades by focusing on industry, agricultural, administration, and rural infrastructures. â€Å"During 1976 – 1996 the overall number of the poor in Indonesia sharply decreasedRead MorePoverty And Poverty1487 Words   |  6 PagesGlobally, poverty is a prevailing social and economic concern. In pure economic terms, the United Nations Educational, Scientific and Cultural Organisation (UNESCO, 2017) defines income poverty as a failure of a family’s income to meet a federally established threshold. The World Bank’s definition of extreme poverty is living on less than US$1.90 per day (World Bank, 2017), which was decided on using the purchasing power parity exchange rates to convert the line into the US dollar, and into the currenciesRead MoreTo what extent is reducing the number of people living in absolute poverty sufficient to achieve economic growth and development?1222 Words   |  5 Pagesï » ¿To what extent is reducing the number of people living in absolute poverty sufficient to achieve economic growth and development? Absolute poverty measures the number of people living below a certain income threshold or the number of households unable to afford certain basic goods and services. Much of the poverty in developing countries, such as South Africa, tends to be absolute poverty. Economic growth can be defined as steady growth in the productive capacity of the economy. Short term growth