The distribution of gains from globalization

DOI:	https://doi.org/10.5089/9781484347065.001
URL:	https://www.imf.org/en/Publications/WP/Issues/2018...
Weitere URL:	https://www.researchgate.net/publication/324203332...
Dokumenttyp:	Arbeitspapier
Erscheinungsjahr:	2018
Titel einer Zeitschrift oder einer Reihe:	IMF Working Paper
Band/Volume:	18/54
Ort der Veröffentlichung:	Washington, DC
Verlag:	International Monetary Fund
ISBN:	978-1-4843-4706-5
ISSN:	1018-5941 , 2227-8885
Sprache der Veröffentlichung:	Englisch
Einrichtung:	Fakultät für Sozialwissenschaften > Internat. Political Economy and Development (Juniorprofessur) (Lang 2020-)
Fachgebiet:	320 Politik
Abstract:	We study economic globalization as a multidimensional process and investigate its effect on incomes. In a panel of 147 countries during 1970-2014, we apply a new instrumental variable, exploiting globalization’s geographically diffusive character, and find differential gains from globalization both across and within countries: Income gains are substantial for countries at early and medium stages of the globalization process, but the marginal returns diminish as globalization rises, eventually becoming insignificant. Within countries, these gains are concentrated at the top of national income distributions, resulting in rising inequality. We find that domestic policies can mitigate the adverse distributional effects of globalization.