Every which way we can: philanthropy and private investment are increasingly important in the global fight against poverty

Citation

(2013), "Every which way we can: philanthropy and private investment are increasingly important in the global fight against poverty", Strategic Direction, Vol. 29 No. 5. https://doi.org/10.1108/sd.2013.05629eaa.003

Every which way we can: philanthropy and private investment are increasingly important in the global fight against poverty

Article Type: Abstracts From: Strategic Direction, Volume 29, Issue 5

Karlan D. Finance and Development, December 2012, Vol. 49 No. 4, No. of pages: 4

Points out that global poverty reduction was once financed by relatively rich countries with the support of international organizations such as the United Nations and the World Bank, but times are changing and philanthropic contributions by such bodies as the Bill and Melinda Gates Foundation and George Soros’s Open Society Foundation, social enterprises such as the Grameen Bank, and the increasing flow of investment funds to developing countries, are now taking on a higher profile in the fight against poverty. Argues that developing economies are attracting more direct investment, but they still need official aid and money from private donors to help correct market failures and catalyze solutions for the poor. Reviews some associated issues, such as shifts in public opinion, sustainability concerns, and investment’s impact on poverty reduction in the developing world. Includes the account in a special issue partly devoted to the theme: ’Philanthropy: catalysts for change’. ISSN: 0145-1707 Article type: Viewpoint Reference: 42AC127

Keywords: Aid agencies, Charitable donations, Charitable donations, Charities, Developing countries, Finance, Philanthropy, Poverty, World economy