A new report by Oxfam America analyses the impact of North-South private capital flows on growth, inequality and poverty. ‘Global Finance Hurts the Poor’ argues private capital flows have contributed to a worldwide decline in growth since the 1970s, creating inequality and poverty. Capital flows should be made less volatile to reduce their cost and boost their volume. The report concludes global finance can have a positive impact if well regulated and capital controls remain an optioReviewed by FG, 15/07/2003.Reviewed by FG, 15/07/2003.n.
Reforming the Global Financial Architecture: issues and institutions, Third World Network/ UNCTAD book (order online)