Social Protection for Equity and Growth
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The objective of this book is to provide policy recommendations to reduce the economic vulnerability of the poor to adverse shocks and help them cope with income downturns. The authors suggest that, social equity arguments aside, insuring the poor is desirable in terms of economic efficiency. Both theory and evidence suggests that risk-averse individuals who are unable to insure will select low-risk and low-return survival strategies. In terms of human capital and employment decisions, these strategies may provide them with minimum levels of income. This book is the result of a series of initiatives in 1998 and 1999 by the Poverty and Inequality Advisory Unit of the Inter-American Development Bank.