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Poverty and Inequality in the Years of Globalisation

Author

Listed:
  • Luciano Marcello Milone
  • Felice Roberto Pizzuti

Abstract

The last two-three decades have been characterised by a determined return to economic integration and neo-laissez faire policies, but at the same time poverty and inequality have remained high or have increased. Prospects are not encouraging for many reasons, especially the inadequacy of institutions. In particular, we perceive the need for strengthening and adjusting the welfare state. Analysing the connections between globalisation and growth in the developing countries, distinction must be made between commercial and financial integration. In both cases, however, the liberalization of emerging countries must be gradual and closely dependent on their effective capacity to address market distortions and to limit social costs. Globalisation requires the strengthening of international cooperation institutions. This, however, in turn depends on prior reform of their decision-making mechanisms to enable such institutions to serve effectively the real interests of the international community.

Suggested Citation

  • Luciano Marcello Milone & Felice Roberto Pizzuti, 2004. "Poverty and Inequality in the Years of Globalisation," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 2, May.
  • Handle: RePEc:rar:journl:0003
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    Keywords

    Globalization; Growth; Poverty; Inequality; Welfare State; Government Role; International Economic Institutions;

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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