GLOBALIZATION AND ECON0MIC CONVERGENCE: AN ASSESSMENT

Robert Rowthorn and Richard Kozul-Wright

No 131, UNCTAD Discussion Papers from United Nations Conference on Trade and Development

Abstract: This paper offers a critical survey of a strong globalization thesis that predicts a direct link from more open trade and investment regimes to faster economic growth in developing countries and income convergence across the global economy. Its examination of recent experience suggests that while in a more open and integrated world economy both the quantity and the quality of investment are influenced by external factors the forces driving capital accumulation retain strong domestic roots and remain open to the influence of various types of policy initiative.

Date: 1998
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