Over the last four decades developing countries have implemented large-scale trade liberalizations and become integrated in the world trading system. The increase in global trade is presumed to have contributed to poverty reduction, growth, and structural transformation in developing countries. In developed economies, globalization is credited with lower prices and increased variety of consumer goods and intermediate products. Despite these positive effects, we have seen a strong backlash against globalization in the last five years. This talk explores the causes and consequences of this backlash. I argue that recent developments necessitate a shift in focus from aggregate gains to distributional impacts of trade, both in academic research and economic policy.
The Development Economics Vice Presidency (DEC) launched its lecture series in April 2005 to bring distinguished academics to the Bank to present and discuss new knowledge on development. The purpose of the Lecture Series is to introduce ideas on cutting edge research, challenge and contribute to the Bank's intellectual climate, and reexamine current development theories and practices. The Lectures revisit issues of long-standing concern and explore emerging issues that promise to be central to future development discourse. The Lecture Series reflects DEC’s commitment to intellectual leadership and openness in embracing future challenges to reduce poverty.
Please visit DEC Lecture Series to access additional information about this event series as well as presentation materials from past talks.