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More significantly even if globalization increases economic efficiency and growth in globalizing countries, it can raise income inequality and reduce social welfare in such countries.
Not only are peace and prosperity highly desirable goals independently, they may be linked causally to each other.
Hence, globalization can be seen as a redistribution of potential for empowerment.
Globalization does not imply the dawn of an era of commercial peace.
Consequently, globalization when taken in its entirety represents an unambiguous force for interstate peace.
Globalization is a contributing factor.
The paper argues that the process of globalization resulted in emergence of institutions and professions that are more detrimental to global peace and prosperity.
Social globalization and deregulation is also linked to inequality.
Globalization can, however, be better managed to benefit the poor.
Journal ArticleDOI
23 Citations
We argue that globalization can contribute much to poverty reduction both directly and by accelerating growth.
The evidence presented in Inequality, Globalization, and World Politics suggests that globalization is creating sharper, more urgent problems for states and international institutions to deal with.
The results indicate that the impacts on governance of peace and stability from globalization defined as trade are stronger than those of peace and stability resulting from globalization taken to be foreign direct investment.
Drawing on the political economy literature, I argue that economic liberalism should distinguish between level- and change-effects of both globalization and capitalism and that thinking in analogies between domestic and interstate peace has prevented the field from making analytical headway.
How the state responds when globalization is intensifying will have a significant impact on its capacity to respond should globalization stumble.
The power of globalization rests not simply on material prosperity, but on the ability to communicate and share ideas as well as goods across large geographical and cultural distances.
Journal ArticleDOI
Cameron Graham, Dean Neu 
01 Dec 2003-Accounting Forum
78 Citations
We argue that if globalization is to be useful as a theoretical construct, then detailed research is required into the concrete and specific mechanisms that constitute globalization.

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