Globalization and development in sub-Saharan Africa
AbstractThis paper critically reviews the impact of globalization on sub-Saharan Africa (SSA) since the early 1980s. The large gains expected from opening up to international economic forces have, to date, been limited, and there have been significant adverse consequences. Foreign direct investment in SSA has been largely confined to resource—especially mineral—extraction, even as continuing capital flight has reduced financial resources available for productive investments. Premature trade liberalization has further undermined prospects for the economic development of SSA as productive capacities in many sectors are not sufficiently competitive to take advantage of any improvements in market access.
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Bibliographic InfoPaper provided by United Nations, Department of Economics and Social Affairs in its series Working Papers with number 102.
Length: 44 pages
Date of creation: Feb 2011
Date of revision:
Africa; Agriculture; Aid; Bretton Woods institutions; Development; FDI; Finance; Industry; Structural Adjustment; Trade;
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O2 - Economic Development, Technological Change, and Growth - - Development Planning and Policy
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
This paper has been announced in the following NEP Reports:
- NEP-AGR-2011-03-12 (Agricultural Economics)
- NEP-ALL-2011-03-12 (All new papers)
- NEP-DEV-2011-03-12 (Development)
- NEP-INT-2011-03-12 (International Trade)
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- de Mauro, Andrea, 2013. "Africa’s Burden: Labour Markets, Natural Resources and the FDI ‘Reliance-Rejection’ Paradox," MPRA Paper 50019, University Library of Munich, Germany.
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