Over the years, economic theory has shown several determinants of the positive or negative relationshipsthat exist between economic growth and inequality. Market integration in the context of globalization also has implications for income inequality, and remains an area that is heavily debated on the world stage. This paper tries to explain the relationship between economic growth and income inequality in Venezuela usinga macro-historical analysis and by taking globalized markets into account. We use a dynamic econometric model of distributed lags for the period 1970-2010. The results mainly show that commercial globalizationreduces income inequality, while financial globalization increases it. Additionally, a negative relationship is observed in the short term between economic growth and inequality but this relationship tendsto disappear in the medium term and in periods of high macroeconomic volatility.