Multidimensional poverty as a determinant of global economic development

Abstract

Introduction. Global economic growth is influenced by several factors, including factor of the social sphere. Social inequality and stratification of the countries have become the negative effects of the processes of internationalization and globalization. The world was divided into rich and poor parts. The subject of the study is multidimensional poverty as a social determinant of global economic development.

Purpose. The article aims to study the role of poverty as a multidimensional determinant of global economic development and identification of the position in the global environment in terms of poverty. The following objectives are formulated: clarification of the role of social factors in global economic development; disclosure and understanding of poverty and its key indicators; determination of  the position of countries in terms of poverty; offering the measures of its reduction in the world.

Methods (methodology). The study have used the general scientific and specific methods. The most significant are as the following: method of systematic approach, methods of analysis and synthesis, method of synthesis and comparison.

Results. The factors and social determinants of global economic development are determined. The necessity of systematic consideration of poverty through multidimensional poverty is proved. The role of developing countries in ensuring global economic growth is analysed. An assessment of poverty and of income inequality in the world is carried out. The necessity of changing attitudes of global poverty reduction strategy is grounded.