Meeting Globalization's Challenges by Luís Catão

Author:Luís Catão
Language: eng
Format: epub
Publisher: Princeton University Press
Published: 2019-09-07T00:00:00+00:00

CLOSING REMARKS

All things considered, it is imperative for policy makers in EMDEs not to ignore international trade’s distributional consequences as well as the unequal access to the gains from aggregate growth, whether growth stems from international trade or technological progress more broadly. Even though backlash against globalization has generally been restrained in EMDEs compared with the advanced economies, there is a risk of increasing antitrade sentiment as growth is buffeted by the global business cycle and converges down toward advanced economy levels.

The solutions available right now to address the growing inequality problem are, admittedly, far from adequate. But as informed policy experimentation narrows down what works and what does not, there is hope that small successes on the local level might eventually translate into more broadly applicable remedies.

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