ECON371 - #10 Impact of Globalization Economic effects on developing poor countries(forces of economic globalization Four distinct globalization

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
#10) Impact of Globalization Economic effects on developing, poor countries (forces of economic globalization) Four distinct globalization epics: <1820 – antiglobal 1820-1913 – proglobal 1914-1950 – antiglobal 1951> - progloabl Income gaps widen with or without globalization Net impact too small to determine effect Internationalization of institutions International: World Bank IMF UN Committee on Trade and Development (UNCTAD) Regional: EU NAFTA ASEAN OECD Interest Groups: Labor unions Non-government organizations Employer associations Foundations Population of multinational organizations has increased 1950-2000 Output increased 5x, but merchandise trade increased 14x+ More developing countries have become pro-globalizers Globalization has not yet included poor countries, about 2B people Globalization and inequality Country’s integration into world economy through trade should raise its level of real income Potential in real income through realization of dynamic gains through trade Critics who questioned opening up a country to trade Does international trade operate as a mechanism of international equality with gains going to advanced nations? Would a developing country’s growth better be performed through ISI as opposed to comparative advantage? Criticized bad management of globalization Adverse effects on poor, environment, and international stability Has been governed in undemocratic ways Less-developed countries worse off through globalization in some cases Manifestation of western imperialism in ideas and policies
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
6/22/06 Globalization (cont.) International Financial Architecture Five type of financial crises: Macroeconomic policy-induced crisis Occurs when domestic credit expansion is inconsistent with a country’s fixed exchange rate Financial panic
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/11/2008 for the course ECON 371 taught by Professor Vanderford during the Summer '08 term at University of Arizona- Tucson.

Page1 / 4

ECON371 - #10 Impact of Globalization Economic effects on developing poor countries(forces of economic globalization Four distinct globalization

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online