The impact of globalization on African countries economic development

Show simple item record Kimatu, Josphert N. Wenjing, Wang Rongcheng, Wang Ayenagbo, Kossi Nguhi, Stephanie Makse, Judith P. 2014-11-28T09:15:23Z 2014-11-28T09:15:23Z 2012-11
dc.identifier.citation African Journal of Business Management Vol.6(44), pp. 11057-11076 , November 2012 en_US
dc.identifier.issn 1993-8233
dc.description DOI: 10.5897/AJBM12.828 en_US
dc.description.abstract The term globalization captures the attention of everyone and especially economic development researchers. However, despite the prior prosperity promises of globalization and the benefits of an information accessing society, the afterwards benefits have not been universal and global inequality has increased instead. Some studies show that globalization has widened the gap between rich and poor countries in its relentless progression while others are unclear about its effect. Although the idea of globalization had gradually been developed since the Second World War, its impact gained momentum in the early 1990s; Africa has not been spared from the implications of this phenomenon. We used the KOF Globalization Index with a special bias on African countries. The purpose of this article is to examine the progressive position of Africa in the global economy and highlight key sustainable approaches which African countries can adopt as economic development priorities as it fits into a globalized economy. However, the losses could be higher for African countries or less depending on its approach. African governments’ policies should be designed systematically so as to balance between its current low economic status, its political teething problems and the pressures to catch up and fit into the inevitable globalization trends. This would minimize the economic marginalization of Africa and increase it utilization of its raw materials and human resources. en_US
dc.language.iso en en_US
dc.publisher Academic Journals en_US
dc.subject African countries en_US
dc.subject globalization en_US
dc.subject economic development en_US
dc.subject information technology en_US
dc.title The impact of globalization on African countries economic development en_US
dc.type Article en_US

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