Chapter 7: Exploring Poverty Measurement Techniques Across Diverse Economies: A Cross-Country Study

Poverty is affecting millions of people worldwide and it is a huge global issue. It is a challenging issue with many facets that affect politics, the economy and society. Achieving sustainable development goals (SDGs) and reducing inequality around the world are both affected by poverty. There are various techniques to quantify poverty, each with advantages and disadvantages. Absolute, relative and multidimensional poverty are a few of the often-used measurements. However, measuring poverty across different economies is challenging due to social, economic and political differences. This chapter aims to examine the concept of poverty and how it is measured in various economic contexts. In this chapter, various methods of calculating poverty, the difficulties in doing so and the efficacy of various poverty measures in capturing poverty in multiple economies are also covered. This chapter will also discuss how the findings may affect policy and practice and propose new lines of inquiry for future studies on measuring poverty in various economies. The significance of this study resides in its ability to advance our understanding of poverty and its quantification while also guiding practitioners and decision-makers engaged in efforts to eradicate poverty and advance sustainable development. This chapter examines poverty in various economies in order to highlight the dynamic and complex character of poverty as well as the demand for context-specific measures to reduce it.