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Cycle of Poverty in Developing Countries

Cycle of Poverty in Developing Countries

Opeyemi Idowu Aluko
Copyright: © 2021 |Pages: 14
ISBN13: 9781799848172|ISBN10: 1799848175|ISBN13 Softcover: 9781799856658|EISBN13: 9781799848189
DOI: 10.4018/978-1-7998-4817-2.ch008
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MLA

Aluko, Opeyemi Idowu. "Cycle of Poverty in Developing Countries." Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa, edited by Evans S. Osabuohien, et al., IGI Global, 2021, pp. 126-139. https://doi.org/10.4018/978-1-7998-4817-2.ch008

APA

Aluko, O. I. (2021). Cycle of Poverty in Developing Countries. In E. Osabuohien, E. Oduntan, O. Gershon, O. Onanuga, & O. Ola-David (Eds.), Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa (pp. 126-139). IGI Global. https://doi.org/10.4018/978-1-7998-4817-2.ch008

Chicago

Aluko, Opeyemi Idowu. "Cycle of Poverty in Developing Countries." In Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa, edited by Evans S. Osabuohien, et al., 126-139. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-4817-2.ch008

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Abstract

Poverty is no longer fashionable even in the less developed countries of the world. The world has deemed poverty-ridden regions of the world as ‘anathema', forbidden, and ignoble. At the same time ways to get out of the menace are regularly strategised over a period of time. The developed countries of the world had been able to nip poverty to the bud significantly, but the developing countries still have a lot to do so as to overcome the menace. Poverty in the developing countries operates in a cycle of repetitions. This makes it difficult to curtail. How can poverty be reduced in the developing countries? This study reveals the reason while poverty has become a domestic phenomenon in developing countries and the way forward. The theory on poverty is evaluated alongside the present economic situation in Africa. The cycle of poverty, which includes the social cycle of poverty (SCP), political cycle of poverty (PCP), and the economic cycle of poverty (ECP), are examined. This study analyses the strategies to break the cycle of poverty in Africa and other developing countries.

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