Missing Consumption Inequality: Direct Evidence from Individual Food Data

Without data on individual consumption, inequality across individuals is almost invariably inferred by applying adult equivalence scales to household-level consumption data. To assess whether these household-based measures are effective, we exploit a rare opportunity in which individual food consumption data for each and all household members are available. We use a large sample of eight waves of the China Health and Nutrition Survey 1991-2011 that cover roughly 4,000 households and 11,000 individuals per wave. We find that adult-equivalent consumption misses 40% of the total cross-sectional individual inequality. The missing inequality is largely driven by the “vices" (i.e. alcohol, tobacco, coffee and tea) and by the core food consumption of young children. Our results suggest caution in the use of adult-equivalent scales to measure inequality, whose effectiveness depends on the items in the consumption basket and the presence of young children

Reinventing strategies for emerging markets: beyond the transnational model

With established markets becoming saturated, multinational corporations (MNCs) have turned increasingly to emerging markets (EMs) in the developing world. Such EM strategies have been targeted almost exclusively at the wealthy elite at the top of the economic pyramid. Recently, however, a number of MNCs have launched new initiatives that explore the untapped market potential at the base of the economic pyramid, the largest and fastest-growing segment of the world's population. Reaching the four billion people in these markets poses both tremendous opportunities and unique challenges to MNCs, as conventional wisdom about MNC global capabilities and subsidiary strategy in EMs may not be appropriate. How MNCs can successfully enter these low-income markets has not been effectively addressed in the literatures on global and EM strategies. An exploratory analysis, involving interviews with MNC managers, original case studies, and archival material, indicates that the transnational model of national responsiveness, global efficiency and worldwide learning may not be sufficient. Results suggest that the success of initiatives targeting low-income markets is enhanced by recognizing that Western-style patterns of economic development may not occur in these business environments. Business strategies that rely on leveraging the strengths of the existing market environment outperform those that focus on overcoming weaknesses. These strategies include developing relationships with non-traditional partners, co-inventing custom solutions, and building local capacity. Together, these successful strategies suggest the importance of MNCs developing a global capability in social embeddedness. Journal of International Business Studies (2004) 35, 350–370. doi:10.1057/palgrave.jibs.8400099

Conditional cash transfer programmes: the recent experience in Latin America and the Caribbean

Includes BibliographySpanish version available at the LibraryForeword Alicia BárcenaThis document summarizes experience with conditional cash transfer or "co-responsibility" (CCT) programmes in Latin America and the Caribbean, over a period lasting more than 15 years. During this time, CCTs have consolidated and spread through the region's various countries as a tool of choice for poverty-reduction policy. This document, which it is hoped will serve as a basis and input for discussion and progress in building social-protection systems premised on inclusion and universal rights, provides detailed information on the different components of CCTs. It also reviews their main characteristics in terms of the definition and registration of programme users, the targeting mechanisms used, the various types of benefits provided, and the conditionalities attached to them. It then analyses the historical trend of the indicators of CCT investment and coverage, and the information available 8 ECLAC on their effects in different domains. Lastly, it makes an assessment of the experience and the main challenges that these programmes pose in terms of their sustainability, legal framework, accountability, participation, institutionality and inter-sectoral characteristics