Concluding Remarks: The Argument in a Nutshell, its Policy Implications and the Liberal Dilemma

Abstract

As we have emphasized in the introduction, about globalization we cannot say anything sensible in general terms. The characteristics of globalization and its impact on the economy depend on the period, the country, the issue analyzed and the approach adopted. In particular, we argued that the impact of globalization on the process of development and its sustainability is potentially beneficial but the benefits may be caught only under well-specified conditions. If one or more of these conditions are absent, the impact of globalization on development may be negative or, otherwise, positive in the short term but unsustainable.