Making Sense of Globalization

Abstract

Globalization is, in some respects, a centuries-old phenomenon. Only now, however, are we examining which aspects of the current wave are old and which are new and the effects of these on poverty and inequality in the world. Furthermore, it is difficult to be sure whether the poor economic performance of some countries (notably in sub-Saharan Africa) is due to their having been insufficiently open to the world economy, or whether they lacked the institutions and capacities (such as in human capital) that would have enabled them to benefit from such opportunities and embrace globalization successfully. CEPR's new Policy Paper analyses how various institutions, including corporations, national governments and the many institutions of civil society, have responded or potentially could respond to these developments.