Martin Ravallion, Australian economist and academic

Martin Ravallion, born on March 19, 1952, is a highly distinguished Australian economist whose groundbreaking work has profoundly shaped our understanding and approach to global poverty. His career, spanning decades at leading institutions, has been characterized by rigorous research, innovative policy proposals, and an unwavering commitment to improving the lives of the world's poorest.

Early Life and Academic Foundations

Hailing from Australia, Martin Ravallion pursued his higher education with a clear focus on economics, ultimately earning his PhD from the prestigious London School of Economics. This foundational academic experience equipped him with the analytical tools and theoretical depth that would become hallmarks of his impactful career. His early academic journey set the stage for a lifetime dedicated to addressing some of humanity's most pressing socio-economic challenges.

A Career Dedicated to Eradicating Poverty

Ravallion's professional journey is most notably defined by his extensive tenure at the World Bank, where he served as the director of its research department. This pivotal role placed him at the forefront of global development policy, allowing him to lead and influence critical discussions on poverty alleviation strategies worldwide. Following his impactful work at the World Bank, as of 2013, he took on the esteemed position of the inaugural Edmond D. Villani Professor of Economics at Georgetown University, continuing his academic and research contributions.

Pioneering the '$1 a Day' Poverty Line

One of Martin Ravallion's most enduring and significant contributions is his proposal in 1990 of what has become universally known as the "$1 a day" poverty line. This simple yet revolutionary measure provided a crucial, internationally comparable standard for identifying extreme poverty, making it possible to monitor and track global progress against this pervasive issue. Since its inception, Ravallion and his colleagues at the World Bank diligently used this and other refined metrics to regularly assess the state of global poverty, bringing unprecedented clarity to a complex problem. The "$1 a day" line, later adjusted for inflation and purchasing power to reflect more current realities, remains a cornerstone in development economics, offering a benchmark that policy makers and researchers worldwide rely upon.

Shaping Global Development Goals

Ravallion's intellectual leadership extended beyond measurement. A seminal paper he authored in 2012 laid the fundamental intellectual groundwork for a monumental global commitment: the World Bank's, and subsequently the United Nations', development goal of eliminating extreme poverty in the world by 2030. This ambitious and transformative objective owes much to Ravallion's rigorous analysis and persuasive arguments, which provided the empirical basis and policy direction for such a far-reaching international aspiration. His work effectively translated complex economic analysis into actionable targets for global change.

Prolific Publications and Enduring Influence

Throughout his career, Martin Ravallion has been a remarkably prolific scholar, penning five influential books and over 250 papers published in prestigious scholarly journals and edited volumes. His extensive body of work serves as a foundational resource for students, academics, and policymakers engaged in the study of development and poverty. Among his notable publications is the comprehensive volume, The Economics of Poverty: History, Measurement, and Policy, which was published by Oxford University Press in January 2016. This book distills decades of research into a definitive text, offering a deep dive into the historical context, methodological approaches, and policy implications of poverty. His profound impact is further underscored by his consistent ranking, based on publications and citations, among the top 10 development economists globally. Indeed, he has been ranked as the number one development economist worldwide by RePEc/IDEAS, a leading database for economics research, and stands among the top 100 economists across all fields, a testament to his wide-ranging influence and intellectual prowess.

Distinguished Recognition and Affiliations

Martin Ravallion's contributions have not gone unnoticed, earning him numerous accolades and important affiliations throughout his career.

Prestigious Awards

• 2011 John Kenneth Galbraith Award: He received this prestigious award from the American Agricultural and Applied Economics Association, recognizing his significant contributions to economic thought.
• 2015 BBVA Foundation Frontiers of Knowledge Award in Development Cooperation: This highly esteemed international award celebrated Ravallion for his pioneering and groundbreaking work on defining the extreme poverty threshold. The jury specifically lauded his efforts in establishing internationally applicable standards, which have been crucial in facilitating the creation of specific and measurable development cooperation goals worldwide.
• 2018 Honorary Doctorate in Economics: The University of Fribourg, Switzerland, bestowed upon him an honorary doctorate in economics, acknowledging his profound and lasting impact on the field.

Key Professional Affiliations

• Research Associate: National Bureau of Economic Research.
• Senior Fellow: Bureau for Research in Economic Analysis of Development.
• Non-Resident Fellow: Center for Global Development.
• Ex-President: Society for the Study of Economic Inequality.

Frequently Asked Questions (FAQs) about Martin Ravallion

Who is Martin Ravallion?

Martin Ravallion is an eminent Australian economist, widely recognized for his extensive research and policy work on poverty in developing countries. He is a former director of the research department at the World Bank and, as of 2013, the Edmond D. Villani Professor of Economics at Georgetown University.

What is Martin Ravallion most famous for?

Ravallion is most famous for proposing the "$1 a day" poverty line in 1990, a critical international standard for measuring extreme poverty. His work also provided the basis for the World Bank's and United Nations' goal to eliminate extreme poverty globally by 2030.

What is the significance of the "$1 a day" poverty line?

The "$1 a day" (or its updated equivalents like $2.15 a day in 2017 PPP) poverty line established a common, internationally comparable threshold for extreme poverty. It allowed for systematic monitoring of global poverty trends and provided a clear target for international development efforts, influencing policy and resource allocation worldwide.

Where did Martin Ravallion receive his education?

He earned his PhD in economics from the London School of Economics.

Has he received any major awards for his work?

Yes, he has received several prestigious awards, including the 2011 John Kenneth Galbraith Award and the 2015 BBVA Foundation Frontiers of Knowledge Award in Development Cooperation for his pivotal contributions to defining the extreme poverty threshold.