{
  "title": "Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword",
  "publication": "IMF Working Papers, January 8, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2021/01/08/financial-globalization-and-inequality-capital-flows-as-a-two-edged-sword-49977",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Core findings",
      "content": "- The within-country distributional impact of capital account liberalization is context specific.\n- Different types of capital flows have different distributional effects.\n- The overall impact of financial globalization on inequality depends on:\n  - the composition of capital flows,\n  - their interaction, and\n  - broader economic and institutional conditions."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- A comprehensive set of policies is important for facilitating wider sharing of the benefits of financial globalization, including:\n  - macroeconomic policies,\n  - financial policies, and\n  - labor- and product-market specific policies."
    },
    {
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      "content": "- Authors: Barry J. Eichengreen, Balazs Csonto, Asmaa A ElGanainy, Zsoka Koczan\n- Date: January 8, 2021\n- Pages: 37\n- Series: Working Paper No. 2021/004\n- Issue: 004\n- Volume: 2021\n- DOI: https://doi.org/10.5089/9781513566382.001\n- Stock No: WPIEA2021004\n- ISBN: 9781513566382\n- ISSN: 1018-5941\n\nSource: IMF Working Papers — \"Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword\" (January 8, 2021).\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2021/01/08/financial-globalization-and-inequality-capital-flows-as-a-two-edged-sword-49977"
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    "Authors: Barry J. Eichengreen, Balazs Csonto, Asmaa A ElGanainy, Zsoka Koczan",
    "Published: January 8, 2021",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513566382.001",
    "The within-country distributional impact of capital account liberalization is context specific.",
    "Different types of capital flows have different distributional effects.",
    "The overall impact of financial globalization on inequality depends on:",
    "A comprehensive set of policies is important for facilitating wider sharing of the benefits of financial globalization, including:",
    "Authors: Barry J. Eichengreen, Balazs Csonto, Asmaa A ElGanainy, Zsoka Koczan",
    "Date: January 8, 2021",
    "Pages: 37",
    "Series: Working Paper No. 2021/004",
    "Issue: 004",
    "Volume: 2021",
    "DOI: https://doi.org/10.5089/9781513566382.001",
    "Stock No: WPIEA2021004",
    "ISBN: 9781513566382",
    "ISSN: 1018-5941",
    "**Working Paper**"
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