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Globalization and development in sub-Saharan Africa

Author

Listed:
  • Jomo Kwame Sundaram
  • Oliver Schwank
  • Rudiger von Arnim

Abstract

This 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.

Suggested Citation

  • Jomo Kwame Sundaram & Oliver Schwank & Rudiger von Arnim, 2011. "Globalization and development in sub-Saharan Africa," Working Papers 102, United Nations, Department of Economics and Social Affairs.
  • Handle: RePEc:une:wpaper:102
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    File URL: http://www.un.org/en/development/desa/papers/2011
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    Cited by:

    1. Sudhanshu K. MISHRA, 2017. "Measuring degree of globalization of African Countries on almost equimarginal contribution principle," Journal of Economics Bibliography, KSP Journals, vol. 4(4), pages 345-353, December.
    2. 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.

    More about this item

    Keywords

    Africa; Agriculture; Aid; Bretton Woods institutions; Development; FDI; Finance; Industry; Structural Adjustment; Trade;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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