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Globalization Facts and Figures

Author

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  • Mr. Paul R Masson

Abstract

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.

Suggested Citation

  • Mr. Paul R Masson, 2001. "Globalization Facts and Figures," IMF Policy Discussion Papers 2001/004, International Monetary Fund.
    • Handle: RePEc:imf:imfpdp:2001/004
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    Citations

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    Cited by:

    1. Helmut Wagner & Wolfram Berger, 2004. "Globalization, Financial Volatility and Monetary Policy," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 31(2), pages 163-184, June.
    2. repec:ilo:ilowps:371237 is not listed on IDEAS
    3. Bernhard G. GUNTER & Rolph HOEVEN, 2004. "The social dimension of globalization: A review of the literature," International Labour Review, International Labour Organization, vol. 143(1-2), pages 7-43, March.
    4. Gács, János, 2007. "A gazdasági globalizáció számokban. A nyitottság alakulása az EU országaiban - I. rész [Economic globalization in figures. The development of openness in the EU countries, I]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 876-902.
    5. Ayesha Naz & Eatzaz Ahmad, 2018. "Driving Factors of Globalization: An Empirical Analysis of the Developed and Developing Countries," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 10(1), pages 133-158, March.
    6. Pavel Breinek, 2005. "Procesy globalizace ve světové ekonomice [Processes of globalization in the world economy]," Politická ekonomie, Prague University of Economics and Business, vol. 2005(6), pages 826-841.
    7. Helmut Wagner, 2005. "Globalization and financial instability: Challenges for exchange rate and monetary policy," International Journal of Social Economics, Emerald Group Publishing, vol. 32(7), pages 616-638, July.
    8. Deluna, Roperto Jr & Chelly, Antiquisa, 2014. "Economic Growth, Financial and Trade Globalization in the Philippines: A Vector Autoregressive Analysis," MPRA Paper 60206, University Library of Munich, Germany.
    9. Ramona Frunza & Liviu George Maha & Claudiu Gabriel Mursa, 2009. "Globalization & Regionalization In International Trade," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 1(2), pages 5-19, December.
    10. Tanzi, Vito, 2004. "Globalization and the need for fiscal reform in developing countries," Journal of Policy Modeling, Elsevier, vol. 26(4), pages 525-542, June.
    11. Oana Calitoiu, 2011. "Advantages And Disadvantages Of The Globalization," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(39), pages 174-179.
    12. Nijkamp, Peter & van Hemert, Patricia, 2007. "Going for Growth; a Theoretical and Policy Framework," Papers DYNREG14, Economic and Social Research Institute (ESRI).
    13. International Monetary Fund, 2006. "Nepal: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2006/045, International Monetary Fund.

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