Abstract:

As economies of the world are getting more and more interdependent, hence, a large segment of economic literature investigated the impact of globalisation on income inequality. However, the empirical investigations on the impacts of globalisation on income distribution are still inconclusive. In the past few years, most countries have experienced the effects of economic globalization which has resulted in increasing economic growth. However, the degree of economic globalization and its consequences is heterogeneous across countries and regions with varying levels of development. The rise of economic globalization has benefited economic growth at the cost of income inequality within countries. Widening income inequality is the most defining challenge of our time as the benefits of rising income are not shared equally across all the segments of the population. The problems posed by income inequality have resulted in a debate about its implications within, and between countries

Description:

Economics, Rapid, Population, Benefits, Countries