Abstract
Abstract This chapter reviews the academic and policy debate on the association between financial globalization and inequality. The evidence suggests that the distributional impact of financial globalization is context-specific and different types of flows have different distributional implications, though the consensus points to unequalizing effects of capital account liberalization. The overall impact thus depends on the composition of flows, their interaction, as well as on the broader economic and institutional conditions. A comprehensive set of policies, including macroeconomic and financial sector policies, and labor and product markets, is important to enable wider sharing of the benefits of financial globalization.
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