Globalization and the income distribution between the countries

Globalization is contested concept. In general, it is considered to be beneficial for the growth of economy. But, there are also many adverse effects of globalization on growth in many developing countries. It increases poverty and worsens the income distribution. Globalization has raised powerful debate between optimists and pessimists. There are pro and against globalization debates, with strong arguments in both sides. The objective of this paper is to analyze the relationship between economic globalization, poverty and income inequality in developed and developing countries. We review the empirical evidence on the relationship between globalization and within country poverty in developing countries. This paper attempts to access the impact of economic globalization on poverty and inequality in developed and developing countries. Overall our results seems to suggests that globalization while leading in reducing in poverty has at the same time exacerbated income inequality. The paper has three parts. The first part analyses evolution of economic globalization in the last several decades. The next part deals with positive and negative aspects of economic globalization on the income distribution Key words: economic globalization, poverty, income inequality, income distribution, developed and developing countrie