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|dc.description.abstract||Globalization improves the prospects for developing countries (DCs) to catch upeconomically with industrialized countries. Depending on economic policies withrespect to openness and factor accumulation, globalization may increase capital andtechnology flows to DCs, thereby generating a higher rate of income growth thanwould be possible in a less integrated world economy. Nevertheless, many observersdraw an overly pessimistic picture of the perspectives of DCs in the era ofglobalization, mainly for three reasons. First, DC membership in institutionalizedregional integration schemes such as in Europe and North America is sometimesconsidered to be a necessary precondition for economic success. Second, a low levelof interfirm technology cooperation between rich and poor countries is feared todelink DCs from technological progress. Third, a relatively high concentration offoreign direct investment flows on a few advanced DC hosts is said to limit thedevelopment prospects for the majority of DCs. The paper shows that such concernsare largely unfounded.||en_US|
|dc.publisher|||aKiel Institute for the World Economy (IfW) |cKiel||-|
|dc.relation.ispartofseries|||aKiel Working Paper |x753||en_US|
|dc.title||Some consequences of globalization for developing countries||en_US|
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