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Globalization Facts and Figures

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  • 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

  • Paul R Masson, 2001. "Globalization Facts and Figures," IMF Policy Discussion Papers 01/4, International Monetary Fund.
  • Handle: RePEc:imf:imfpdp:01/4
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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. Helmut Wagner & Wolfram Berger, 2003. "Financial Globalization and Monetary Policy," DNB Staff Reports (discontinued) 95, Netherlands Central Bank.
    3. repec:bec:imsber:v:10:y:2018:i:1:p:133-158 is not listed on IDEAS
    4. 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.
    5. 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.
    6. Nijkamp, Peter & van Hemert, Patricia, 2007. "Going for Growth; a Theoretical and Policy Framework," Papers DYNREG14, Economic and Social Research Institute (ESRI).

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