IMPACT OF GLOBALIZATION ON INCOME DISTRIBUTION IN DEVELOPING ECONOMIES

Globalization processes, which have intensified, have opened new avenues for developing economies in the past few decades. Moreover, various aspects such as international trade, foreign direct investments, transfer of technology, and even mobility of labor have brought changes to the developing economies. However, on the opposite side of the positive aspects, inequality in the level of income distribution is also worsening. This paper investigates the effect of globalization in transforming developing countries with its accompanying benefits and drawbacks and how these issues can be addressed.