Globalization and Development in Sub-Saharan Africa


Cover of the book Globalization and Development in Sub-Saharan Africa by United Nations, United Nations
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Author: United Nations ISBN: 9789210559102
Publisher: United Nations Publication: January 15, 2013
Imprint: Language: English
Author: United Nations
ISBN: 9789210559102
Publisher: United Nations
Publication: January 15, 2013
Imprint:
Language: English
This publication critically reviews the effects of globalization on sub-Saharan Africa over the last three decades. The large gains expected from opening up to international economic forces have, to date, been limited, while there have been significant adverse consequences. Foreign direct investment in the region has been largely confined to resourceespecially mineralextraction, even as continuing capital flight has reduced financial resources available for productive investments. Premature trade liberalization has undermined prospects for the economic development of productive capacities in many sectors including manufacturing and agriculture -- are not sufficiently competitive to take advantage of improvements in market access.
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This publication critically reviews the effects of globalization on sub-Saharan Africa over the last three decades. The large gains expected from opening up to international economic forces have, to date, been limited, while there have been significant adverse consequences. Foreign direct investment in the region has been largely confined to resourceespecially mineralextraction, even as continuing capital flight has reduced financial resources available for productive investments. Premature trade liberalization has undermined prospects for the economic development of productive capacities in many sectors including manufacturing and agriculture -- are not sufficiently competitive to take advantage of improvements in market access.

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