Inequality, Poverty and Hunger in Developing Countries: Sustainability Implications

Abstract

For several decades, the international community has aspired to integrate the social, economic and environmental dimensions of sustainability. Yet, no country has achieved the patterns of consumption and production that could sustain global prosperity in the coming decades. Thus, with the increasing pace at which domestic markets are becoming integrated into the global economy, the debate on income disparities around the world has intensified. For the African, Caribbean and Pacific regions, it has become clear that it is not enough to help the poor and vulnerable survive short-term shocks. Particularly important, will be the ability of these economies to create new value-added products, processes and business models through innovation. In other words, competitiveness is a necessary but not sufficient condition for continued prosperity. Hence, the need for adjusted social and environmental sustainability measures of growth in these economies. Using Global Income Distribution Dynamics Model (GIDD) and Global General Equilibrium Model (LINKAGE), the paper predicts a reduction in regional income inequality by 2030. However, the potential reduction can be fully accounted for by the projected convergence in average income across countries. Consequently, the paper recommends the need to build the resilience of vulnerable populations of the African, Caribbean and Pacific (ACP) countries for the purposes of stability and Godliness.