Essays on Trade and Equity
Globalization is a central topic of current economic and public debate. The term globalizatio n is associated with the increase of tradevolumes,investmentﬂows, outsourcing activities and the expansion of multinational enterprises. However, a commonly accepted deﬁnition does not exist and other characterizations intertwine diﬀerent contemporaneous trends, such as,increased transport facilities, faster and cheaper communication technologies, changes in labor conditions, and even cultural change. No matter which deﬁnition is used, there is a common urge to know how globalization aﬀects our economic and social conditions. Trade liberalization is a main component of economic globalization and as such, there is much interest about the positive and negative eﬀects it may cause. However, tradepolicy reforms have been a recurring public issue for over a century and economic integration between developed countries had already expanded signiﬁcantly during the post war period. The interesting new element associated with globalization is the ever-increasing integration of developing countries into the process, which has been clearly noticeable since the 1980s. Inaddition, the recent spell of wage inequality and unemployment in OECD countries has added interest to the consequences of trade openness. As with any critical and heavily disputed public issue, many diverse and contradictory opinions exist. Mainstream economists and ﬁnancial international organizations claim that trade liberalization and capital mobility have increased economic growth in those countries that have successfully integrated into the worldeconomy. Moreover,these improved economic conditions have allowed these developing countries to reduce poverty (WorldBank,2002).
|Keywords||household inequality, income distribution, income ineqaulity datasets, income inequality, trade liberalization, trade policy|
Rojas-Romagosa, H.. (2005, January 27). Essays on Trade and Equity. Retrieved from http://hdl.handle.net/1765/1889