Macroeconomic and Distributional Effects of Globalisation

Abstract

This note aims to shed light on the possible consequences of globalisation for the global economy. It assesses the effects of international financial and trade integration, migration and remittances on economic growth, as well as those of protectionist trade policies, with special attention to the implications for emerging market economies (EMEs). The channels through which globalisation influences inflation are also discussed. For EMEs, we ask whether remittances are a source of stability or instability. The links between globalisation and inequality are also discussed. Finally, the links between globalisation and external stability are considered.

Full Publication: Globalisation and Deglobalisation

Keywords: globalisation, economic growth, inflation, international trade and financial integration, remittances, stability

JEL Classification: B17, F22, F24, F60, F62, F68