Policy challenges from closer international trade and financial integration: Dealing with economic shocks and spillovers

Global economic integration has been a powerful driver of increased economic efficiency and improved living standards around the world, and has contributed to sizeable economic gains in emerging market economies (EMEs). In spite of these gains, enhanced integration has also raised concerns about the costs it has imposed on vulnerable groups and its potential impact on inequality in advanced economies.

‌Policy challenges from closer international trade and financial integration: Dealing with economic shocks and spillovers (pdf)