The Effect of Globalization on Income Inequality: Evidence from Asian Economies
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Abstract
How globalization has changed wage inequality in some Asian economies, with a focus on the years 1990–2023. Asia's economy has grown a lot thanks to globalization, which includes more trade, capital flows, and technology progress. But its effect on how income is shared is still up for question. This study uses panel data to look at the link between globalization measures (like trade openness, foreign direct investment (FDI), and technological diffusion) and income inequality (measured by the Gini coefficient). The results show that globalization has helped the economy grow, but it has also made income inequality worse in some Asian countries. Inequality is lessened by globalization in places with strong institutional frameworks and social safety policies. On the other hand, the income gap grows in places with weaker governance. the need for targeted policy interventions, like better labor market policies and economic reforms that help everyone, to make sure that the benefits of globalization are shared more fairly. by adding new Asian perspectives to the larger conversation about globalization and injustice.
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