The integration of developing countries in the global economy increased sharply in the 1990s with improvements in these countries’ economic policies and the massive expansion of global trade and finance driven by technological innovations in communications, transport and data management, coupled with some lowering of barriers to trade and financial transactions. Despite limited access to capital markets, many of the low-income developing countries also witnessed a sharp increase in their international financial ties during the 1990s. Relative to the size of their economies, the poor countries receive almost the same amount of foreign direct investment--- and their residents place about as much money abroad--- as in other developing countries.
Global Development Finance 2002, Analysis and Summary volume (809 KB), also highlights recent trends and prospects for the global economy, capital flows, and improvements in policies surrounding aid flows.
Transcript and Powerpoint presentation from the Washington, D.C. launch .
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"Many poor countries have improved their policies, institutions and performance in the past decade. Because aid increasingly is channeled to these countries, aid is more effective today than ever before. But even successful poor countries are being hurt by lower global growth, adverse trends in commodity prices, and declining aid."
— Nicholas Stern, Former Chief Economist and
Senior Vice President, The World Bank
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