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Is globalization reducing poverty and inequality?

Robert Hunter Wade1

  • 1r.wade@lse.ac.uk

International Journal of Health Services : Planning, Administration, Evaluation
|September 7, 2004
PubMed
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Global economic integration has led to poverty reduction in East Asia but stagnation or regression elsewhere. This study questions the neoliberal claim that globalization benefits all, challenging its empirical basis.

Area of Science:

  • Socio-economic impacts of globalization
  • Global poverty and inequality trends
  • International economic relations

Background:

  • Recent decades show divergent economic trends: rapid growth in East Asia, stagnation in Latin America, and regression in former Soviet states, Eastern Europe, and sub-Saharan Africa.
  • Neoliberal economic theory posits that increased global economic integration has reduced world poverty and income inequality.
  • This perspective suggests globalization, under the post-Bretton Woods regime, fosters mutual benefits over conflicting interests.

Purpose of the Study:

  • To critically examine the empirical evidence supporting the neoliberal argument on globalization's effects.
  • To investigate the net trends in global poverty and income inequality over the past two decades.
  • To question the widely accepted narrative of universal benefits from economic globalization.

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Main Methods:

  • Analysis of economic trends across different global regions (East Asia, Latin America, Africa, Europe, former Soviet Union).
  • Evaluation of data on poverty rates and income inequality.
  • Comparative assessment of economic performance in integrated versus less integrated economies.

Main Results:

  • Significant economic growth and poverty reduction observed in India, China, and East Asia.
  • Economic stagnation or regression documented in Latin America, sub-Saharan Africa, and parts of Europe.
  • The study questions the universality of positive outcomes attributed to globalization.

Conclusions:

  • The neoliberal argument's empirical basis regarding global poverty and inequality reduction is challenged.
  • The benefits of economic globalization appear unevenly distributed across regions.
  • Further investigation is needed to understand the complex relationship between global integration and socio-economic outcomes.