Globalization and Development

For many years there has been a general transformation in the global view of development and globalization. Since the late 19th century, the world has put emphasis on the dimensional changes associated with the internalization of globalization. Much focus has been put on the growth of economies, accompanied with a general view of the world as a global village.

As a mean of moving towards economic independency and social progress, most of the developing countries have been forced to change the direction of their economic wheels and steer their development engines through by concentrating on globalization. Therefore, the topic of globalization and development remains to be an important field, which not only calls for research but also requires a global touch. The situation in developing countries today calls for development policies relating to particular countries. The ideal strategies for addressing these major issues have been significantly captured in this book.

Much emphasis is put on the nature of globalization and its influence on the social welfare. The wide coverage on the issues relating to globalization and development is meant to shade more light on the prerequisites and influence of globalization on the human development index, (HDI). It is important to acknowledge the fact that economic development and growth is a three-dimensional aspect. Most developing countries are still indebted to the countries in the G8 group. The only way to come up with strategy to eliminate this over dependence on Foreign Direct Investment (FDI) and heavy borrowing from the global financial institutions, such as World Bank, is to find a way of promoting global markets through proper integration of common markets. This is just one of the main ideologies behind the foundation of this book.

This book is written with the mission of bringing out the true picture of the impacts globalization has on the development aspect, more so in less developed countries of Africa, Middle East and Asia. The book provides a systematic review of various literatures on development, social welfare, education, trade and globalization. The book borrows its theories from the classical economists like Adam Smith, Pigou and John Maynard Keynes to illustrate on various theoretical aspects of the topic, “Globalization and Development.”