Poverty, inequality, and human capital development in Latin America, 1950-2025

Bibliographic Data

ID19892148
AuthorsJuan Luis Londoño (corresponding author), Juan Luis Londoño de la Cuesta
EditorsWorld Bank
Year1996
Pages38
Publication date1996-06-30
Open AccessNo
TypeBOOK
VenuePoverty, inequality, and human capital development in Latin America, 1950-2025 (SOURCE_BOOK)
PublisherThe World Bank (PUBLISHER)
DOI10.1596/0-8213-3630-4
OpenAlexW104943786
ISBN9780821336304
Open LibraryOL979551M
LanguageEN
Citations received24
References cited1

No AccessStand Alone Books1 Feb 2013Poverty, inequality, and human capital development in Latin America, 1950-2025Authors/Editors: Juan Luis Londono, World BankJuan Luis Londono, World Bankhttps://doi.org/10.1596/0-8213-3630-4SectionsAboutPDF (1 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract:Latin America is known throughout the world for its widespread poverty, extensive inequality, and slow economic growth. This report states that these economic indicators are not unrelated, and that the most important factor contributing to their persistence has been the lack of adequate education for the new generations. The average Latin American worker has two years less education than would be expected for the region's level of economic development. This paper calls for: (i) greatly expanded investment in basic education for 95 percent of the young population, and (ii) the continuation of schooling up to secondary education for 200 million students. The report argues that only a rapid increase in human capital development can bring the region out of poverty quickly. It will substantially accelerate growth, totally eliminate the excess of inequality in the region, and upgrade the standard of living for 70 percent of Latin Americans today living below the poverty line. This effort will require considerable financial resources but will lead to a high rate of economic and social return. In order to be effective, however, the new financial effort must coincide with institutional development that fully incorporates economic and social rationality in the social service of education. With fairer financing, pluralistic and autonomous modes of organization, incentives for efficiency and equality, more competitive provision of services, and consumers empowered with better information and financial resources, the increase in human capital development will not only improve economic growth and social development, but also provide a fertile ground for profound and sustainable democracy. FiguresreferencesRecommendeddetailsCited byFramework of New Poverty Decomposition: An Application to the Evolution of Income DistributionSustainability, Vol.15, No.32 February 2023Do Flexibility Measures Affect the Wage Share? An Empirical Analysis of Selected European CountriesReview of Political Economy, Vol.1530 January 2023Does Tourism Induce Sustainable Human Capital Development in BRICS Through the Channel of Capital Formation and Financial Development? 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Capital (architecture) · Development economics · Economic growth · Economics · Geography · Human capital · Human development (humanity) · Inequality · Latin Americans · Political science · Poverty · Income, Poverty, and Inequality · Mathematics · Poverty, Education, and Child Welfare · Income distribution · Latin America

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