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30 Years of economics for development

Globalization and Trade

The increasing turbulence of the global economy, as well as the increasing role of trade and external finance in development, raises major difficulties for the developing world, particularly the poorer countries. The global dimensions of development require cross-country research so that lessons learned can be transferred across regions, particularly best-practices in the areas of trade, finance, investment and other international policy areas. 

Globalization tends to open up the trade and financial markets of developing countries, presenting new challenges as well as opportunities. Some countries have adjusted quickly and successfully, while others have struggled to come to grips with the emerging international order. UNU-WIDER has examined WTO issues concerned with market access in agriculture, manufacturing and services; the relationship between financial liberalization and growth; the impact of globalization on informal sectors, particularly, labour markets; and the roles of emerging giants such as China, India and Brazil in the global political economy. Findings from these projects are widely disseminated, and have generated considerable attention worldwide.

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