We study the determinants of stock market development and the growing migration of capital raising, listing, and trading activity to international exchanges. Economies with higher income per capita, sounder macro policies, more efficient legal...
This paper examines the nature and extent of global and regional income distribution and inequality using the most recent country level data on income distribution drawn from World Bank and UNU-WIDER studies for the period 1993-2000. The methodology...
Lorraine Telfer-Taivainen The Central European University (CEU) in Budapest, Hungary, was the venue for the launch on 16 June 2012 of the just...
‘Globalization’ implies change, and uncertainty over future change may affect household welfare. We use data on Lorenz curves over the last fifty years for a sample of 53 (mostly developing) countries. Treating each country-quintile-year as an...
The paper focuses on the non-linearity of the transmission of the impact of globalization on poverty and the existence of threshold effects. Institutions constitute a critical factor for the creation of threshold effects in the impact of...
An important channel through which globalization affects poverty is introducing new technologies to developing countries. Adoption of new technologies can be hindered by uncertainties about their efficiency. This paper studies the role of information...
The impact of globalization on poverty is a matter of keen debate but empirical work in this area has been dominated by cross-country regressions. This paper attempts to link the more macro impacts of globalization, particularly as manifested through...
This paper introduces two composite indices of globalization. The first is based on the Kearney/Foreign Policy magazine and the second is obtained from principal component analysis. They indicate the level of globalization and show how globalization...
The impact of globalization on global and local inequality is hotly debated in the recent literature. This study considers the separate issue of the impact of globalization on poverty through quantifying explicitly the responsiveness of poverty to...
This paper uses trade theory to examine the effects of trade liberalization on countries that do not participate in it. These include both countries that fail to participate in multilateral trade negotiations, and also countries that lie outside of...
The literature on the economics of happiness in the developed economies finds discrepancies between reported measures of wellbeing and income measures. The ‘Easterlin paradox’, for example, shows that average happiness levels do not increase as...
The paper studies the relation between globalization, inequality and marginalization, within and across nations. It reviews the existing evidence on globalization and global inequality and argues, using a simple theoretical model, that the two are...
China’s recent accession to the WTO is expected to accelerate its integration into the world economy, which aggravates concerns over the impact of globalization on the already rising inter-regional income inequality in China. This paper discusses...
Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises—the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global...
Foreign direct investment (FDI) has increased dramatically in recent years. However, the distribution of FDI is highly unequal and very poor countries face major difficulties in attracting foreign investors. This paper investigates the determinants...
Trade liberalization, by aligning domestic prices with world prices, is envisaged to bring welfare gains to a country. In the case of Indian agriculture, owing to the vastness and diversity of the sector, the impact is likely to be profoundly unequal...
The objective of the paper is to understand the transforming relationship between the formal and informal sector in a liberalizing open developing economy. There are various facets in this relationship, and we focus on three essential aspects. First...
Part of Journal Special Issue Climate Change and the Zambezi River Valley
In this paper we present two composite indices of globalization. The first is based on the Kearney/Foreign Policy magazine and the second is obtained from principal component analysis. They indicate which countries have become most globalized and...
China’s recent accession to the WTO is expected to accelerate its integration into the world economy, which aggravates concerns over the impact of globalization on the already rising inter-region income inequality in China. This paper discusses China...
The paper offers a critical literature review of the debate surrounding the globalization-poverty nexus, focusing on channels and linkages through which globalization affects the poor. After introducing four different concepts used to measure trends...
The paper considers the political obstacles and supports for additional development finance and a number of possible devices through which advantage may be taken of the supports and the obstacles circumvented. It emphasizes the need for effective...
In this paper we provide an analytical account of the mechanisms through which globalization, in the sense of increased foreign trade and long-term capital flows, affects the lives of the rural poor in developing countries (in their capacity as...
There has been much debate about how much poor people in developing countries gain from trade openness, as one aspect of ‘globalization’. The paper views the issue through both ‘macro’ and ‘micro’ empirical lenses. The macro lens uses cross-country...
Livelihoods of the rural poor in developing countries are critically dependent on the health of the local ecosystems. In this paper we examine the various mechanisms through which globalization can lead to ecosystem degradation, and consequently...
There is a dearth of evidence on the evolution of occupational health in the developing world and on the extent to which it has been influenced by (1) the pattern of structural transformation in these economies and (2) integration with global markets...
The focus of this paper is the effect of contemporary globalization on poverty and inequality in cities of the ‘global south’. Specifically it addresses the impact of globalization on marginalized communities—slums, squatter settlements and...
With several violent conflicts around the world weighing heavily on our minds, we attended the 27th WIDER Annual Lecture. Dr. Pinelopi Goldberg’s...
Globalization offers new opportunities for accelerating development and poverty reduction, but also poses new challenges for policymakers. And there is much concern about the distribution of benefits; in particular whether the poor gain from...
This issue analyses the impact of globalization on Africa and present an overview of the six Africa case studies.
Alice Amsden, Alisa DiCaprio, and James Robinson To understand what role elites play in the process of economic development, we need to establish...
Peter Burnell The UN Doha Follow-up International Conference on Financing for Development, held late in 2008, reminds us of how far foreign aid has...
The UNU-WIDER project on 'Spatial Disparities in Human Development' has collected and analyzed evidence on the extent of spatial inequalities within developing countries. The studies find that spatial inequalities are high, with disparities between...
Globalization offers new opportunities for accelerating development and poverty reduction, but also poses new challenges for policymakers. And there is much concern about the distribution of benefits; in particular whether the poor gain from...
This policy brief reports the main findings of the study on changes in within-country income inequality over the last two decades and on the links between poverty, inequality, and growth. It focuses on inequality at the national level, i.e. the...
Despite the enormous potential of globalization in accelerating economic growth through greater integration into the world economy the impact of globalization on poverty reduction has been uneven. Asia has been the major beneficiary of globalization...
While the economic opportunities offered by globalization can be large, a question is often raised as to whether the actual distribution of gains is fair, in particular, whether the poor benefit less than proportionately from globalization and could...
The policy advice given by economists in international institutions is influenced by their prior academic work. In my case, applied general equilibrium work resulted both in a belief in the necessity of decentralized markets and in a distrust of...
To continue its economic growth and create new and better livelihoods, Africa must transform the productive side of its economy. Ongoing globalization—in trade, finance, and technology—opens up new possibilities for structural transformation, but...
Recent mainstream analyses of changes in income distribution over the post World War II period have concluded that income inequality within countries tends to be stable, that there is no strong association between growth and inequality and that...
This study is premised on the view that reports circulating in the 1990s, claiming foreign aid was in terminal crisis, were premature. Aid’s reviving fortunes are explained in terms both of a growing awareness of the uneven implications of...
As seen from the year 2001, economic policy in developing and post-socialist economies during the preceding 10-15 years had one dominating theme - external 'liberalization' or the drastic lowering or removal of long-standing barriers to almost all...
Much of the vast literature on changes in income distribution in advanced countries during the last two decades attributes these either to globalization (specifically in the form of trade liberalization with low-wage developing countries), or to...
This study attempts to investigate and assess the impact of financial liberalization and the ongoing rise of financial rents on income distribution in the post-1980 Turkish economy. Our quantitative investigation of the dynamics of macroeconomic...
This paper examines whether protectionist tendencies, in terms of both policy preferences and policy actions, in 'Northern' countries-looking in particular at the United States - seem to be an obstacle to the integration into the world economy of...
This paper sketches a profile of international labour migration over the past fifty years and draws a distinction between different categories of labour flows in the contemporary world economy. It examines the underlying factors with an emphasis on...
This paper studies the political and economic evolution of trade and international relations of the nations and regions of Asia between themselves and the rest of the world over the past millennium, paying particular attention to: the Pax Mongolica...
This paper surveys issues related to globalization, and the obstacles to the successful integration of vulnerable economies. For many developing countries, the positive benefits of the increased globalization that has been taking place since around...
Jyrki Ali-Yrkkö, Petri Rouvinen, Timo Seppälä, Pekka Ylä-Anttila Available statistics biases the true picture of the current stage of globalization...
27 May 2013 Matt Andrews, Harvard Kennedy School A growing governance agenda and post-2015 ambitions The governance agenda has grown rapidly in the...
Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises. Examination of economic performance and policy responses shows rising dependence on foreign finance around...
Over the past forty years, industry and business interests have moved increasingly from the developed to the developing world, yet Africa’s share of global manufacturing has fallen from about 3 percent in 1970 to less than 2 percent in 2014. Industry...
During its development into a continental empire, the US, like other countries relied on the investment of capital and labour from abroad; unlike other countries, the US had a peculiar political institution, federalism, which channeled these...
This paper investigates how the two types of globalization—i.e., integration of international trade and emigration—affected poverty reduction in the Philippines. Using the Family Income and Expenditure Surveys from 1985 to 2000, we found that both...
China has experienced rapid integration into the global economy and achieved remarkable progress in poverty reduction over the last two decades. In this paper, by employing panel data covering twenty-five Chinese provinces over the period of 1986...
The paper assesses the potential of currency transaction taxes (CTT, widely known as the Tobin tax), to raise revenue for global development. Though Tobin proposed and others assessed CTTs in terms of reducing exchange rate volatility and improving...
Part of Book Asian Transformations
The study discusses conditions and prospects for fast and durable growth in emerging market economies. In the course of history less than 30 nations have become rich and still more than 80 per cent of the world population lives in the middle and low...
by Christina Boswell, Jeff Crisp and George Borjas The globalization of the world economic and social structure - in terms of increased volumes of...
by Jukka Pekkarinen Empirical investigations of the growth of nations give some support to the hypothesis that smallness as such is a factor that...
by Machiko Nissanke and Erik Thorbecke The process of globalization provides a golden opportunity for mankind to contribute to a major reduction of...
by Kaushik Basu 1. Forbes Online, 27 February 2003 (1), offers some information about the world’s ten richest people. Much of the information would...
29 October 2014 Giovanni Andrea Cornia For the last quarter of the twentieth century, Latin America suffered from low growth, rising inequality, and...
It's imperative to demolish myths around the economic achievements of China and India and get a better sense of the real challenges. The author of the...
Until the 1980s, the Ivory Coast seemed to be one of the most successful examples of economic development, enjoying sustained growth and rising per capita incomes. This process was, however, seen to be fragile in the 1980s when it was brought to an...
27 August 2014 Vladimir Popov Modern economic growth started in the West, not because of the efficiency of various capitalist institutions...
This paper investigates the determinants of inclusive growth with a focus on foreign aid. Based on the Solow growth model, a theoretical model has been developed which shows that foreign aid can stimulate inclusive growth if it is effectively used...
Following the financial crisis that broke in the US and other Western economies in late 2008, there is now serious concern about its impact on the developing countries. The world media almost daily reports scenarios of gloom and doom, with many...
Machiko Nissanke and Erik Thorbecke Despite the enormous potential of globalization in accelerating economic growth and development through...
Part of Book Wider Perspectives on Global Development
It is now more than fifty years since the United Nations system and the Bretton Woods institutions were created. The world has changed since then, and so have its governance needs in terms of institutions and rules. It is time to think about the...
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