Globalization and Governance: Investigate How Globalization Affects Economic Growth, Poverty Rates, and Income Inequality in Different Countries and Regions
DOI:
https://doi.org/10.64229/0pvebg19Keywords:
Globalization, Economic Growth, Poverty Rates, Income Inequality, Sustainable DevelopmentAbstract
This research investigates undertakes a nuanced examination of the complex relationships between globalization, economic growth, poverty rates, and income inequality across a diverse array of countries and regions. Employing a mixed-methods approach that adds rigorous quantitative analysis with in-depth case studies, it examines how the multifaceted impacts of globalization are mediated by a country's economic structure, institutional framework, and policy responses. The study reveals that while globalization has been instrumental in lifting millions of people out of poverty and stimulating economic growth in certain regions, particularly in parts of Asia, it has also had adverse effects in other contexts. Notably, in regions with weak governance and inadequate regulatory frameworks, such as parts of Sub-Sahara Africa and Latin America, globalization has often exacerbated income inequality and poverty. These findings emphasize the critical relevance of context-specific policy strategies that not only harness the benefits of globalization but also mitigate its negative outcomes. The paper adds to a deeper understanding of the globalization-development nexus and offers insights for policymakers seeking to improve more inclusive and sustainable development outcomes in an increasingly connected world.
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