Globalization and liberalization: the impact on developing countries

Includes bibliography

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Detalles Bibliográficos
Autor principal:	Stallings, Barbara
Otros Autores:	NU. CEPAL. División de Desarrollo Económico
Formato:	Texto
Lenguaje:	English
Publicado:	ECLAC 2014
Materias:	COMERCIO INTERNACIONAL CRECIMIENTO ECONOMICO FINANZAS INTERNACIONALES GLOBALIZACION MOVIMIENTOS DE CAPITAL PAISES EN DESARROLLO RECOMENDACIONES SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL MOVEMENTS DEVELOPING COUNTRIES ECONOMIC GROWTH GLOBALIZATION INTERNATIONAL FINANCE INTERNATIONAL TRADE RECOMMENDATIONS MONETARY SYSTEMS FINANCIAL RESOURCES
Acceso en línea:	http://hdl.handle.net/11362/5427
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id	oai-11362-5427
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spelling	oai-11362-54272020-03-04T19:57:23Z Globalization and liberalization: the impact on developing countries Stallings, Barbara NU. CEPAL. División de Desarrollo Económico COMERCIO INTERNACIONAL CRECIMIENTO ECONOMICO FINANZAS INTERNACIONALES GLOBALIZACION MOVIMIENTOS DE CAPITAL PAISES EN DESARROLLO RECOMENDACIONES SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL MOVEMENTS DEVELOPING COUNTRIES ECONOMIC GROWTH GLOBALIZATION INTERNATIONAL FINANCE INTERNATIONAL TRADE RECOMMENDATIONS MONETARY SYSTEMS FINANCIAL RESOURCES Includes bibliography Summary This paper analyzes the impact of globalization on developing countries over the last several decades. The first section examines the components and mechanisms of globalization. The second turns to financial globalization –considered to be the most important aspect of a multifaceted process– and looks in more detail at the changing trends in finance for developing countries. The third analyzes the impact of the new pattern of finance in terms of growth, equity, and government autonomy. The concluding section offers policy recommendations for making globalization a more positive force. Four basic arguments are developed in the paper with respect to the impact of financial globalization. First, globalization has increased the capital available to developing countries, which potentially increases their ability to grow faster than if they had to rely exclusively on their own resources. Not all capital flows contribute equally to growth, however; short-term flows and the purchase of existing assets are less valuable than investment in new facilities. At the same time, the increasing mobility of capital can also lead to greater volatility, which is very costly for growth. Second, capital flows are unequally distributed by region and country, thus skewing the patterns of growth. There is also an unequal distribution of capital within countries by geographic area, sector, type of firm, and social group, creating a division between winners and losers. Third, government attempts to extract the benefits from the globalization of capital, while limiting the costs, is more possible than usually thought. The source of many problems is local rather than global, and the experience of several countries indicates that 'Heterodox' policies can be followed. Finally, policy changes at the global, regional, and national levels could improve the picture just sketched out. 2014-01-02T16:11:58Z 2014-01-02T16:11:58Z 2001-12 Texto Documento Completo 9211213134 http://hdl.handle.net/11362/5427 LC/L.1571-P en Serie Macroeconomía del Desarrollo 4 application/pdf ECLAC
institution	Cepal
collection	Cepal
language	English
topic	COMERCIO INTERNACIONAL CRECIMIENTO ECONOMICO FINANZAS INTERNACIONALES GLOBALIZACION MOVIMIENTOS DE CAPITAL PAISES EN DESARROLLO RECOMENDACIONES SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL MOVEMENTS DEVELOPING COUNTRIES ECONOMIC GROWTH GLOBALIZATION INTERNATIONAL FINANCE INTERNATIONAL TRADE RECOMMENDATIONS MONETARY SYSTEMS FINANCIAL RESOURCES
spellingShingle	COMERCIO INTERNACIONAL CRECIMIENTO ECONOMICO FINANZAS INTERNACIONALES GLOBALIZACION MOVIMIENTOS DE CAPITAL PAISES EN DESARROLLO RECOMENDACIONES SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL MOVEMENTS DEVELOPING COUNTRIES ECONOMIC GROWTH GLOBALIZATION INTERNATIONAL FINANCE INTERNATIONAL TRADE RECOMMENDATIONS MONETARY SYSTEMS FINANCIAL RESOURCES Stallings, Barbara Globalization and liberalization: the impact on developing countries
description	Includes bibliography
author2	NU. CEPAL. División de Desarrollo Económico
author_facet	NU. CEPAL. División de Desarrollo Económico Stallings, Barbara
format	Texto
author	Stallings, Barbara
author_sort	Stallings, Barbara
title	Globalization and liberalization: the impact on developing countries
title_short	Globalization and liberalization: the impact on developing countries
title_full	Globalization and liberalization: the impact on developing countries
title_fullStr	Globalization and liberalization: the impact on developing countries
title_full_unstemmed	Globalization and liberalization: the impact on developing countries
title_sort	globalization and liberalization: the impact on developing countries
publisher	ECLAC
publishDate	2014
url	http://hdl.handle.net/11362/5427
work_keys_str_mv	AT stallingsbarbara globalizationandliberalizationtheimpactondevelopingcountries
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Globalization and liberalization: the impact on developing countries

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