Top Highlights

• lobalization is bad for poor people in poor countries
• globalization has brought substantial benefits and opportunities for upward mobility for many low-income individuals in the emerging economies
• Yet these same opportunities entail new vulnerabilities and new risks for others.
• Before reform, social spending went disproportionately to social security systems that covered limited and relatively privileged parts of the labor force, while basic social services, such as primary health and education, were severely underfunded.
• Market reforms can also remove economic distortions that block the productive potential of the poor

Domain