| Title | Fractal Poverty Traps |
| Publication Type | Journal Article |
| Year of Publication | 2006 |
| Authors | testval jdsmit31 testval jdsmit31 testval, Swalow BM |
| Journal | World Development |
| Volume | 34 |
| Issue | 1 |
| Start Page | 1 |
| Date Published | 01/2006 |
| Abstract | This paper offers an informal theory of a special sort of poverty trap, one in which multiple dynamic equilibria exist simultaneously at multiple (micro, meso and/or macro) scales of analysis and are self-reinforcing through feedback effects. Small adjustments at any one of these levels are unlikely to move the system away from its dominant, stable dynamic equilibrium. Governments, markets and communities are simultaneously weak in places characterized by fractal poverty traps. No unit operates at a high-level equilibrium in such a system. All seem simultaneously trapped in low-level equilibria. The fractal poverty traps formulation suggests four interrelated strategic emphases for poverty reduction strategies. |
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Fractal Poverty Traps | Model |
| The dynamic model for poverty traps contains parameters as government policies and technologies, and variables such as income, expenditures, assets holdings and anthropometric status. This dynamic model for poverty traps offers a new perspective by showing the existence of multiple stable equilibria, which implies that there's one unstable dynamic equilibria. At this unstable equilibria, any little shock in the system will cause a switch to state equilibrium. Different to the standard economic... | 29 Nov 2017 |