This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empir

Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is b

The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the s

We take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flows—financial globalization. Both country-

We examine the relationship between trade and financial globalization and the rise in inequality in most countries in recent decades. We find technological prog