Globalisation in Africa: An Overview
Globalization is a hot area in the economies of Sub-Saharan Africa, especially considering the unfavorable outcomes of the IMF and World Bank sponsored structural adjustment programs. Pan-Africanism has emerged as a political reaction to feelings that globalization is only a tool topropagate western interests in the region. We survey and compare empirical studies with a view to evaluate the validity of the argument that globalization has minimal benefit to African economies. Using surveys conducted by western as well as African researchers, the study recommends globalization to African economies because it has great benefits in terms of job creation and technical externalities. It also explores some opportunities and gaps that can be harnessed to the benefit of these economies. In this paper, a case is made for cautious and shrewd trade and fiscal policies in order to maneuver the numerous shortcomings that have been cited by other opponents of globalization and liberalization.
|Date of creation:||22 Jun 2015|
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- David E. Bloom & Jeffrey D. Sachs, 1998. "Geography, Demography, and Economic Growth in Africa," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 207-296.
- Chris Alexander & Ken Warwick, 2007. "Governments, Exports and Growth: Responding to the Challenges and Opportunities of Globalisation," The World Economy, Wiley Blackwell, vol. 30(1), pages 177-194, January.
- Paul Collier & Jan Willem Gunning, 1999. "Why Has Africa Grown Slowly?," Journal of Economic Perspectives, American Economic Association, vol. 13(3), pages 3-22, Summer.
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