A central dimension of globalization is the world trend toward larger trade and financial openness, observed in most industrial and developing economies. Openness increases the integration of world goods and capital markets, contributing to potential gains in growth and welfare. However, increased ...

The importance of economic growth cannot be overstated. Income growth is ssential for achieving economic, social, and even political development. Countries that grow strongly and for sustained periods of time are able to reduce their poverty levels significantly, strengthen their democratic and political ...