The Role of Globalisation in Shaping Emerging Economies

The study examines the socio-economic impacts of globalisation on countries with medium and below-medium development, focusing on their integration into global markets, institutional quality, export structure, and spatial disparities, using a comparative analysis of macroeconomic and institutional indicators across Central and Eastern Europe, Southeast Asia, South Asia, Africa, and Latin America. Open economies achieved a 4.2% average annual GDP growth rate, compared to 2.6% in less open economies and 0.4% in closed ones, with countries exporting over 75% industrial products showing sustained growth and integration into global production networks. Strong institutional performance correlated with significant FDI inflows into industry, infrastructure, and the digital economy, leading to a 25-34% increase in industrial exports, a 14% rise in labour productivity, and over 190,000 new jobs, though uneven integration caused persistent poverty (up to 33%) and digital exclusion in rural areas, with high inequality in Ethiopia and Kenya (Gini coefficient >40). Effective adaptation to globalisation required a mix of economic openness, high institutional quality, and targeted modernisation policies, as seen in inclusive development programmes in Vietnam, Romania, and Uganda, which improved financial access, reduced poverty, and stimulated employment.