Economic Convergence and Real Dimensions: The Case of Shelter Deprivation

Economic Convergence and Real Dimensions: The Case of Shelter Deprivation

Saptarshi Chakraborty (Panchakot Mahavidyalaya, India)
DOI: 10.4018/978-1-5225-0215-9.ch015
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Abstract

Economic convergence exists when two or more economies tend to reach a similar level of development and wealth. The idea of convergence in economics is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies. Though income is considered to be an important indicator, it is now widely recognized that ‘real' dimensions like nutrition, health, shelter, education etc. assess the overall wellbeing of an individual/household. The objective of this chapter is to discuss and formulate a methodology by which one can measure shelter deprivation and its convergence in a region as a step forward to add on to overall well-being of an individual or household. This chapter not only shows a methodology to calculate such divergence and analyses the reasons for such divergence, but also prepares a list of possible combinations of policy prescriptions by which a policy maker, such as the government, can find the extent of rectification of shelter deprivation of a group given its allotment of budget.
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Objectives

The objective of this chapter is to discuss and formulate a methodology, similar to that of Chakraborty (2010) by which one can measure shelter deprivation and its convergence in a region as a step forward to add on to overall well-being of an individual or household. Though it requires a broader study ‘real aspects’ of the standard of living, over time, in this region, this chapter believes that this may also be of independent interest as a case study insofar as:

  • 1.

    It seeks to grapple with the problem of multidimensional deprivation in the context where much information is likely to be qualitative rather than quantitative; and

  • 2.

    To the best of my knowledge, there are not much detailed case studies of shelter deprivation in regions like India.

The objective of this chapter is thereby to formulate how to test the convergence of regions, preferably two states of the country India, in the sense that whether one state, that is more deprived, converges to the other, which is less deprived, over time.

Key Terms in this Chapter

Shelter: It refers to standard of dwelling units basically with respect to certain criteria like adequacy, sanitation, environment and comfort.

Regional Disparity: It refers to difference in economic development and uneven economic achievement in different geographical regions.

Real Dimensions: It includes non-monetary economic aspects like nutrition, health, shelter, education etc.

Fund Allocation: It refers to economic and judicious disbursement of funds.

Convergence: It refers to gradual reduction in the disparity and thereby merging of certain economic criteria between two groups.

Policy Curve: It is a curve showing various policy options for the policy maker.

Divergence Rectification: It is a process of correction of economic divergence through policy measures.

Deprivation: It means underachievement of any economic variable/attribute from its benchmark level.

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