The era of globalization has brought substantially less progress than was achieved in the preceding 20 years. This study by the Center for Economic and Policy Research concludes that the data provide no evidence that the policies associated with globalization have improved outcomes for developing countries, and its findings challenge economists and policymakers who cite globalization as an engine of growth while pressing for policies that strengthen the trend. The study also served as a backdrop to the release of the United Nations Development Program's Human Development Report on July 11, 2001. Using standard measures of economic growth, health outcomes, education, and literacy, the CEPR study compares the progress achieved during the period preceding globalization, 1960–80, with the period from 1980 to 2000, which was characterized by the reduction of tariff and nontariff barriers to trade, the removal of restrictions on international investment flows, and increasing intervention by the International Monetary Fund and World Bank on a wide range of economic and policy issues. While the evidence presented here does not prove that the policies associated with globalization were responsible for the deterioration in economic performance, it does present a very strong prima facie case that some structural and policy changes implemented during the last two decades are at least partly responsible for these declines.
A two-asset, intertemporal portfolio selection model is formulated incorporating proportional transaction costs. The demand for assets is shown to be sensitive to these costs. H...
Does finance affect economic growth?A number of studies have identified a positive correlation between the level of development of a country's financial sector and the rate of g...
Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional ch...
A Simple Mechanism for the Efficient Provision of Public Goods: Experimental Evidence by Josef Falkinger, Ernst Fehr, Simon Gächter and Rudolf Winter-Ember. Published in volume ...
Abstract . Zimmet P (International Diabetes Institute, Melbourne, Australia). Globalization, coca‐colonization and the chronic disease epidemic: can the Doomsday scenario be ave...
Social media, news, blog, policy document mentions