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Why Haven't Global Markets Reduced Inequality in Emerging Economies?

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  • E. Maskin

Abstract

The theory of comparative advantage predicts that globalization should cause inequality in emerging economies to fall. However, this has not been true of the current globalization (even though the prediction held up well for previous such episodes). In this paper, I sketch an alternative theory—developed in collaboration with Michael Kremer—that seems to fit recent history well.

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  • E. Maskin, 2015. "Why Haven't Global Markets Reduced Inequality in Emerging Economies?," World Bank Economic Review, World Bank Group, vol. 29(suppl_1), pages 48-52.
  • Handle: RePEc:oup:wbecrv:v:29:y:2015:i:suppl_1:p:s48-s52.
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    File URL: http://hdl.handle.net/10.1093/wber/lhv013
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    Cited by:

    1. Basu, Kaushik, 2016. "Globalization of labor markets and the growth prospects of nations," Journal of Policy Modeling, Elsevier, vol. 38(4), pages 656-669.
    2. repec:eee:ecmode:v:70:y:2018:i:c:p:239-244 is not listed on IDEAS

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