Publication: Globalization, Growth, and Poverty : Building an Inclusive World Economy
Date
2002
ISSN
Published
2002
Author(s)
World Bank
Abstract
Societies and economies around the world
are becoming more integrated. Integration is the result of
reduced costs of transport, lower trade barriers, faster
communication of ideas, rising capital flows, and
intensifying pressures for mitigation. Integration--or
"globalization"--has generated anxieties about
rising ineuality, shifting power, and cultural uniformity.
This report assesses its impact and examines these
anxieties. Global integration is already a powerful force
for poverty reduction, but it could be even more effective.
Some, but not all of the anxieties are well-founded. Both
global opportunities and global risks have outpaced global
policy. The authors propose an agenda for action, both to
enhance the potential of globalization to provide
opportunities for poor people and to reduce and mitigate the
risks it generates. This report presents three main findings
that bear on current policy debates about globalization.
First, poor countries with around 3 billion people have
broken into the global market for manufactures and services;
these "new globalizers" have experienced
large-scale poverty reduction. The second finding concerns
inclusion both across countries and within them; the authors
highlight a range of measures that would help countries in
danger of becoming marginalized become integrated with the
world economy. A third issue concerns the anxiety that
economic integration leads to cultural or institutional homogenization.
Citation
“World Bank. 2002. Globalization, Growth, and Poverty : Building an Inclusive World Economy. A World Bank policy research report;. © Washington, DC: World Bank and Oxford University Press. http://openknowledge.worldbank.org/entities/publication/1f3e4b8c-abfb-5faa-a4cd-fec16a2d8c93 License: CC BY 3.0 IGO.”