Faculty / School

Faculty of Business Administration (FBA)

Was this content written or created while at IBA?

No

Document Type

Case Study

Publication Date

7-17-2000

Conference Name

Seminar on EMP-CIDA Globalisation Project

Conference Location

Lahore

Conference Dates

July 17, 2000

First Page

1

Last Page

28

Keywords

Globalization, Liberalization, Poor, Case study, Pakistan

Abstract / Description

Globalization has several different connotations, meanings and perceptions. In this paper we define globalization to imply the forces of liberalization of investment and trade regimes, financial integration, international labour flows and technological change which are sweeping the world today with fierce velocity. The beneficial impact of these forces, in a country specific context, takes place primarily through rapid economic growth. The transmission mechanism of globalization to economic growth can be facilitated, moderated or hampered by the mediating influences of international and regional institutions, policies of developed countries and the rules of game. The second stage of transmission from economic growth to poverty reduction can take place only if other complementary measures such as investment in human development, poverty targeted interventions and social safety nets are put in place. There is strong empirical evidence to substantiate the claim that poverty reduction cannot take place in absence of economic growth. But the rate of growth alone is not sufficient unless the nature and quality of growth also fall in line with the impulses that lead to poverty reduction. Domestic policies, institutions and governance are the important determinants of the transmission mechanism from growth to poverty reduction.

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