Spreading the Wealth. @inproceedings{DollarSpreadingTW, title={ Spreading the Wealth}, author={David Dollar and Aart Kraay}, year={} }. Spreading the Wealth. Author: David Dollar and Aart Kraay, economists at the World Bank’s Development Research Group, in Foreign Affairs. You are here. Publications;» Spreading the Wealth · Pathways Magazine Spreading the Wealth. Reference Information. Author: David Dollar and Aart Kraay.

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Skip to main content. Log In Sign Up. Spreading the Wealth Author s: David Dollar and Aart Kraay Source: In do,lar first article, published by Foreign Affairs, David Dollar and Aart Kraay implement globalization as a term of poverty reduction where the main step is openness to foreign trade and investment.

They agree with the fact that globalization benefits the developed nations, however, they disagree with the point that globalization could be a reason of poverty rise. weakth

Spreading the Wealth

Explaining the research of great divide between rich and poor countries from tillthey found out that starting fromthe situation in poor wealthh is significantly changed.

Nevertheless, Robert Hunter Wade, the author of the second article, positioned his idea from another side.

Actually, he argues why economic integration does not reduce the world poverty and why it continues to increase the income inequality. Ddollar main emphasis is that there is a large margin of error in measurement of the world poverty.

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In particular, starting fromthe World Bank recalculated the numbers based on the new methodology that did not coverthe wealfh and the point of extreme poverty. Evidently, the following results are confusing and depressing the true trend of inequality. Due to spreeading articles that include strong and weak sides of globalization, we can compare and analyze different issues of the raised question.

Based on the experiences of China and India, Dollar and Kraay are sure that openness to foreign trade is a significant step in poverty reduction.

Spreading the Wealth | Business & Human Rights Resource Centre

From one side, it is clear, but from another side, we should not just focus on the results of two countries where the population density of low income people are much higher than the rich people. Based on experiences and success of China and India, Dollar and Kraay argue that trade and investment flows, tariff rates and presence of capital control probably cannot result a rise of inequality. Despite that fact, As spreadingg result, other causing factors should be noticed as domestic education, taxes and social policies.

According to Dollar and Kraay, spreqding in international trade and investment could benefit developing countries, but still there are some challenges with the limit of integrations and geography. Firstly, globalizing countries advance in the trade liberalization, while the opportunities of developing nations are limited. Particularly, developed countries have more experience in the world trade and follow the rules that initially were constructed by industrialized nations.

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As a result, many poor countries face problems with the trade policies that require renovation of local institutions and policies where they need new resources and time. Secondly, international capital flow are presented as the foreign ownership of assets, but direct investments changed its nature in developing countries sincefrom investing natural resources it turned to manufacturing and services.

Another important advancement in economic integration is migration, which significantly declined over the past century.

Spreading the Wealth – Semantic Scholar

As a result, the differences soreading growth rates continue to increase the level of income inequality across the countries. Remember me on this computer.

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