This paper summarizes what the existing studies in international and development economics tell us about the nexus between globalization and poverty.Several regularities emerge from our survey of the literature.First, the real sector globalization, which can be captured by enhanced openness in goods and service sectors, will reduce poverty through macroeconomic growth. This conclusion is also consistent with the recent cross-country findings on“pro-poor growth.”Second, while the improved accessibility to the international capital market, which is indication of the financial globalization, will also reduce poverty through economic growth, the variance of growth may increase as well.Particularly, the recent episodes of currency crises suggest that capital account liberalization magnify the welfare cost of“bad-state” realization.

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