International Monetary Fund. External Relations Dept.
Based on a simple but powerful promise—that international economic integration will improve economic performance—globalization has tremendous appeal to policymakers and world leaders as a development strategy, according to Dani Rodrik of Harvard University. Speaking at a seminar organized by the IMF Institute in Washington on May 15, Rodrik explained that as countries reduce tariff and nontariff barriers to trade and open up to international capital flows, the expectation is that growth increases. This, in turn, will reduce poverty and improve the quality of life for most of the population of developing countries.