Globalization And The South: Some Critical Issues
AbstractThis paper examines the implications of some of the main features of the globalization process for developing countries. It also makes several proposals for developing countries in considering national-level policies to face the globalization challenge, as well as coordination among developing countries in facing negotiations or making proposals at the international level. While there are many aspects to globalization, among the most important is the recent globalization of national policy-making not only through the normal spread of orthodox theories but more importantly through international agencies, such as the Bretton Woods institutions and the World Trade Organization, through which the North has leverage over the South. The paper examines the liberalization of trade, finance and investment as well as policy implications and choices in each of these categories. It is argued that, while there are some advantages to an open regime for developing countries, the impact of openness depends on a country’s level of development and preparedness to take on the challenges of subjecting local production units to foreign competition, of being able to break into world markets, and of weathering the volatility and fickleness of private capital flows and their propensity for lending recipient countries into a debt trap. It is therefore imperative that developing countries be given the possibility to have an adequate range of options, of when, how and to what extent to open their economies. For them to maintain the choice of flexibility in policy options, developing countries have to collectively press their case in international forums and institutions where decisions on the global economy are made. Failure in doing so would mean that developing countries will continue to be subjected to international and national policies that are unsuitable to their development, and that more than ever close off their development prospects and options.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by United Nations Conference on Trade and Development in its series UNCTAD Discussion Papers with number 147.
Date of creation: 2000
Date of revision:
Contact details of provider:
Postal: Palais des Nations, CH - 1211 Geneva 10
Phone: +41 22 907 12 34
Fax: +41 22 907 00 43
Web page: http://www.unctad.org/Templates/Page.asp?intItemID=2101&lang=1
More information through EDIRC
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Kimberly Ann. Elliott & Debayani Kar & J. David Richardson, 2004.
"Assessing Globalization’s Critics: “Talkers Are No Good Doers?”,"
in: Challenges to Globalization: Analyzing the Economics, pages 17-62
National Bureau of Economic Research, Inc.
- Kimberly Ann Elliott & Debayani Kar & J. David Richardson, 2002. "Assessing Globalization's Critics: "Talkers Are No Good Doers???"," Working Paper Series WP02-5, Peterson Institute for International Economics.
- Jeff Everett & Dean Neu & Abu Rahaman, 2006. "The Global Fight against Corruption: A Foucaultian, Virtues-Ethics Framing," Journal of Business Ethics, Springer, vol. 65(1), pages 1-12, 04.
- Servaas Storm & J. Mohan Rao, 2002. "Agricultural Globalization in Developing Countries: Rules, Rationales and Results," Working Papers wp71, Political Economy Research Institute, University of Massachusetts at Amherst.
- Muhammad, Shahbaz & mohammad, Mafizur Rahman, 2011.
"The dynamic of financial development, imports, foreign direct investment and economic growth: cointegration and causality analysis in Pakistan,"
32181, University Library of Munich, Germany, revised 12 Jul 2011.
- Muhammad Shahbaz & Mohammad Mafizur Rahman, 2012. "The Dynamic of Financial Development, Imports, Foreign Direct Investment and Economic Growth: Cointegration and Causality Analysis in Pakistan," Global Business Review, International Management Institute, vol. 13(2), pages 201-219, June.
- Adarsh Kishore, 2002. "Towards an Indian Approach to Globalisation," RBA Annual Conference Volume, in: David Gruen & Terry O'Brien & Jeremy Lawson (ed.), Globalisation, Living Standards and Inequality: Recent Progress and Continuing Challenges Reserve Bank of Australia.
- Kabundi, Alain & Loots, Elsabe, 2007. "Co-movement between South Africa and the Southern African Development Community: An empirical analysis," Economic Modelling, Elsevier, vol. 24(5), pages 737-748, September.
- Hoque, Mohammad Monjurul & Yusop, Zulkornain, 2010. "Impacts of trade liberalisation on aggregate import in Bangladesh: An ARDL Bounds test approach," Journal of Asian Economics, Elsevier, vol. 21(1), pages 37-52, February.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rachid Bouhia).
If references are entirely missing, you can add them using this form.