Globalization improves the prospects for developing countries (DCs) to catch up economically with industrialized countries. But not all DCs will automatically benefit from globalization. Some DCs even face the risk of being delinked from the international division of labor. Differences in DC...

Globalised markets and production patterns offer favourable opportunities to raise world income. Yet globalisation also fuels conflicts about the distribution of welfare gains within and across countries. Various developing economies are poorly prepared to meet the challenge of fiercer...