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

Barry Eichengreen, Balázs Csontó, Asmaa ElGanainy and Zsoka Koczan

No 2021/004, IMF Working Papers from International Monetary Fund

Abstract: 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 labor- and product-market specific – is important for facilitating wider sharing of the benefits of financial globalization.

Keywords: capital flows; capital account; remittances; and inequality. (search for similar items in EconPapers)
Pages: 37
Date: 2021-01-08
New Economics Papers: this item is included in nep-fdg, nep-ifn and nep-opm
References: Add references at CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=49977 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2021/004

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().