Globalization Facts and Figures

November 1, 2001

Preview Citation

Format: Chicago

Paul R Masson. Globalization Facts and Figures, (USA: International Monetary Fund, 2001) accessed November 21, 2024

Disclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Globalization has become the focus for a wide range of protests against various features of the world economy. This paper aims to give a concise summary of the economic dimensions of globalization, while leaving to one side other aspects—such as cultural, environmental, or political ones—that are beyond the scope of the IMF. Periods of increased globalization have tended to be associated with technological innovations that reduce transportation and communications costs and with generally rising standards of living. Moreover, countries that have embraced openness to the rest of the world have done better than those that have not. Nevertheless, globalization may also be associated with increased inequality and volatility, which may justify strengthening domestic safety nets and financial supervision and regulation, and enhancing international economic policy coordination. The IMF helps to ensure economic gains from globalization by encouraging trade liberalization, reducing countries’ vulnerability to crises, lending to them when they are in difficulty, and assisting them in putting in place structural reforms that help reduce poverty.

Subject: Expenditure, Globalization, Health, Income inequality, National accounts, Personal income, Public expenditure review

Keywords: Developing country, Financial crisis, Financial market, Financial market volatility, Fuelling globalization, Global, Globalization, Globalization fact, Gold standard, Income inequality, Integration, PDP, Per capita income, Personal income, Public expenditure review, Trade, Transportation cost

Publication Details

Pages:

18
Volume:

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DOI:

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Issue:

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Series:

Policy Discussion Paper No. 2001/004
Stock No:

PPIEA0042001
ISBN:

9781451973563
ISSN:

1564-5193

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