World Poverty Clock
{{Short description|Tool to monitor progress against poverty globally}}
The World Poverty Clock {{Cite web|url=http://worldpoverty.io/|title=World Poverty Clock|access-date=September 1, 2017}} is a tool to monitor progress against poverty globally,{{Cite journal|last=Kharas|first=Homi|date=May 2017|title=Making Everyone Count: A Clock to Track Poverty in Realtime|url=https://www.brookings.edu/blog/future-development/2017/05/10/making-everyone-count-a-clock-to-track-world-poverty-in-real-time/|journal=Brookings Institution Global Economy and Development Papers}} and regionally.{{Cite news|url=https://www.brookings.edu/blog/africa-in-focus/2017/05/18/africa-and-the-world-poverty-clock/|title=Africa and the World Poverty Clock|work=Brookings Institution Working Papers|access-date=31 August 2017}} It provides real-time poverty data across countries.{{Cite news|url=http://www.nation.co.ke/oped/blogs/dot9/ndemo/2274486-4056738-875m2sz/index.html|title=New groundbreaking ways of measuring economic progress|last=ndemo|first=bitagne|date=August 14, 2017|work=The Nation (Kenya)|access-date=August 31, 2017}}{{cite web |last1=Weller |first1=Chris |title=An economist says 66 countries could end poverty by giving their citizens free money |url=https://www.businessinsider.com/cash-transfers-to-end-poverty-2017-6 |website=Business Insider |access-date=30 March 2021}} Created by the Vienna-based NGO, World Data Lab, it was launched in Berlin at the re:publica conference in 2017,Brookings (2017). Making Everyone Count: A Clock to Track Poverty in Realtime. Available at: https://www.brookings.edu/blog/future-development/2017/05/10/making-everyone-count-a-clock-to-track-world-poverty-in-real-time/{{Cite web|url=http://www.freepressjournal.in/analysis/rn-bhaskar-world-poverty-clock-pointers-for-india/1069774|title=World Poverty Clock: Pointers for India|website=Free Press Journal|access-date=September 1, 2017}} and is funded by Germany's Federal Ministry for Economic Cooperation and Development.
The clock seeks to address a gap in development data around social progress indicators, starting with poverty numbers, and tries to align them with economic and demographic indicators like Gross Domestic Product (GDP), and population clocksU.S. Census Bureau. Population Clock Available at: https://www.census.gov/popclock/ and forecast respectively, which already have real-time and forward looking estimates.
Methodology
The World Poverty Clock uses publicly available data on income distribution, stratification, production, and consumption, provided by different and multiple international organizations, most notably the UN, WorldBank, and the International Monetary Fund. These organizations compile data provided to them by governments in each country. In a few cases, governments fail to provide data. The World Poverty Clock uses models to estimate poverty in these countries, covering 99.7% of the world’s population. It also models how individual incomes might change over time, using IMF growth forecasts for the medium-term complemented by long-term “[https://tntcat.iiasa.ac.at/SspDb/dsd?Action=htmlpage&page=about shared socio-economic pathways]” developed by the [http://www.iiasa.ac.at/ Institute of International Applied Systems Analysis] near Vienna, Austria, and similar analysis developed by the OECD.