Globalization is defined in economic terms to mean flows of trade,
foreign direct investment and finance, and liberalization of trade
and investment policies. The impacts of globalization and
information technology are examined in this text in terms of growth
and productivity, poverty and income distribution, and employment.
The experiences of Africa, East and Southeast Africa, South Asia
and Latin America in the era of globalization are discussed. It is
argued that benefits of freer trade and capital flows need to be
managed carefully in order to minimize the costs and maximize
gains.
General
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