Economy

The global economy thrives on globalization and the increasing interdependence of finance, production, consumption and trade. Such integration has reduced poverty, yet varying national policies along with ever-increasing speed of transactions and market news have also contributed to imbalances, both among nations and within. Regulations often do not keep pace in managing cross-border debt, foreign direct investment, corporate practices, tax codes or economic bubbles. The eurozone crisis and the US subprime mortgage crisis have demonstrated that one nation’s problems and panic can spread like wildfire. Nations must combine a competitive spirit with cooperation to achieve stable economic growth and sustainable prosperity.

Recently in YaleGlobal

Dilip Hiro
YaleGlobal
, 12 July 2016
India joined global markets with its 1991 New Economic Policy, lifting GDP, but the income gap widened
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YaleGlobal
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YaleGlobal
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YaleGlobal
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In the News

Martin Wolf
Financial Times
, 21 July 2016
Inequality and stagnant incomes threaten democracies
Nayan Chanda
Businessworld
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The British decision suggests that nations will struggle to cooperate on pressing global challenges
Peter Ford, Sara Miller Llana and Howard LaFranchi
The Christian Science Monitor
, 6 July 2016
Withdrawing from the world’s close interconnectedness will be disruptive
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The Sydney Morning Herald
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Asia Sentinel
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With the inevitable bust, though, investor losses may have outweighed price gains for consumers
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More On Globalization

COLUMN
The British decision suggests that nations will struggle to cooperate on pressing global challenges
VIDEO
John Githongo, Kenya’s most prominent anti-corruption advocate and CEO of Inuka Kenya Trust, encourages advocating for transparency in today’s globalized world. Githongo delivered the Coca-Cola Lecture at Yale entitled “Corruption, Security, and Development: Volatile Nexus” on February 11, 2015. This video is part of the Yale Global Perspectives series. To learn more about Yale and the world, visit world.yale.edu.
AUDIO
BOOK REVIEW
BOOK EXCERPT
ACADEMIC PAPER
Nations should end the Doha Round, yet pursue new routes of cooperation on hyperglobalization and big regional trade agreements – or the benefits of open markets could go into reverse