Confirm cookie choices
Cookies are pieces of code used to track website usage and give audiences the best possible experience.
Use the buttons to confirm whether you agree with default cookie settings when using ebrd.com.

Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword

By Barry Eichengreen, Balazs Csonto, Asmaa El-Ganainy and Zsoka Koczan


A new EBRD Working Paper (number 252)

We review the debate on the association of financial globalization with inequality. We show that the within country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact depends on the composition of capital flows, their interaction, and on broader economic and institutional conditions. A comprehensive set of policies – macroeconomic, financial and labour- and product-market specific – is important for facilitating wider sharing of the benefits of financial globalization.

Read paper

 

GDPR Cookie Status