Francisco H. G. Ferreira is a Senior Adviser in the World Bank’s Development Research Group, where he oversees the Bank’s research programs on poverty, inequality and agriculture. He was formerly the Bank’s Chief Economist for the Africa Region, and has also served as Deputy Chief Economist for Latin America and the Caribbean, and as co-Director of the World Development Report 2006, on Equity and Development. Francisco is also a non-resident Research Fellow at the Institute for the Study of Labor (IZA, Bonn), and has published widely in the fields of poverty and inequality in developing countries. He was awarded the Haralambos Simeonides and the Adriano Romariz Duarte Prizes by the Brazilian Economic and Econometric Societies respectively, and the Kendricks Prize by the International Association for Research in Income and Wealth. Francisco serves on the editorial boards of the Journal of Economic Inequality (where he was previously Editor in Chief), the Review of Income and Wealth, and the World Bank Economic Review. Francisco has taught at the Catholic University of Rio de Janeiro and at the Paris School of Economics. He was born and raised in São Paulo, Brazil, and holds a Ph.D. in Economics from the London School of Economics.
When a team of World Bank economists set about updating the poverty line, they had to balance the requirements of ensuring methodological rigor, using the best available data, and keeping the goalpost for eliminating extreme poverty securely fixed in place. In this talk, Francisco Ferreira, a leading member of the team, sought to bring transparency to the update by explaining in detail all of the methodological choices and data constraints the team faced in setting a new poverty line.
Francisco is a core group member of the World Bank’s Chief Economist new Commission on Global Poverty. The commission will report on the best ways to measure and monitor poverty around the world and help the World Bank Group achieve its twin goals and also track other forms of poverty and deprivation. two goals that would direct its development work worldwide. The first goal is the eradication of chronic extreme poverty, defined as those extremely poor people living on less than $1.25 PPP-adjusted dollars a day, to less than 3% of the world population by 2030. The second goal is the boosting of shared prosperity, defined as promoting the growth of per capita real income of the poorest 40% of the population in each country. The Commission’s final report will constitute advice to the Sr. Vice President and Chief Economist and Senior Management more broadly, and is envisaged for delivery by April 2016.
After decades of stagnation, the size of Latin America's middle class recently expanded to the point where, for the first time ever, the number of people in poverty is equal to the size of the middle class. This volume investigates the nature, determinants and possible consequences of this remarkable process of social transformation.
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