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Despite three decades of continuous globalization, transitional
economies in many countries remain marginalized. In order to
maximize the positive growth of employment creation opportunities
in various sectors, including agriculture, existing patterns of
long-run sustainable equilibrium relationships, technology
transfers, and trade to promote export-led economic growth must be
examined and identified. Regional Trade and Development Strategies
in the Era of Globalization provides a comprehensive overview of
globalization and regional initiative trends of trade and
development through the examination of theoretical and practical
experiences of their underpinning principles through approaches to
overcome the obstacles of globalization and its positive and
negative impacts on global trade and economic development. The
content within this publication examines economic integration,
foreign investment, and financial risk. It is designed for trade
specialists, government officials, students, researchers,
policymakers, business professionals, academicians, and economists.
Despite three decades of continuous globalization, transitional
economies in many countries remain marginalized. In order to
maximize the positive growth of employment creation opportunities
in various sectors, including agriculture, existing patterns of
long-run sustainable equilibrium relationships, technology
transfers, and trade to promote export-led economic growth must be
examined and identified. Regional Trade and Development Strategies
in the Era of Globalization provides a comprehensive overview of
globalization and regional initiative trends of trade and
development through the examination of theoretical and practical
experiences of their underpinning principles through approaches to
overcome the obstacles of globalization and its positive and
negative impacts on global trade and economic development. The
content within this publication examines economic integration,
foreign investment, and financial risk. It is designed for trade
specialists, government officials, students, researchers,
policymakers, business professionals, academicians, and economists.
This book is designed for use in courses that the economics of
development in Asia, Africa and Latin America. I am confident that
this book will be helpful to meet the requirements of the economic
researchers as well university students who studying the courses of
economics, and management at graduate and post graduate levels.
This study resulted from five years of living and teaching as a
professor of development economics at Addis Ababa University,
Gondar University and Debre Birhan University in Ethiopia as well
as travel Kenya as a researcher. These experiences have helped
shape and refine a book that is unique in approach, organization,
and pedagogy in the context of a major set of problems, such as
capitalist crisis, development problems, poverty, inequality,
unemployment, environmental decay, and rural stagnation.
This book has designed to meet the requirements of the university
students who studying the courses of economics, and management at
graduate and post graduate levels, and preparation of the civil
services etc. For groups, essential principles and concepts of the
development that are particularly relevant for understanding
development problems are highlighted throughout the book. This
study was based on the survey reports under the project entitled:
"Evaluation of Rural Technology" conducted by NISTADS from 1996-98.
During this survey I visited 19 districts of Bihar include Patna,
Mokama, Barh, Bakhtiyarpur, Barauni, Khagaria, Purnia Katihar,
Bhagalpur and Chapra. I visited Kenya (2000), Six years of living
and teaching experiences of development economics at Addis Ababa
University (2005-07); Gondar University (2007-10);Debre Birhan
University (2010-11) in Ethiopia, and UUM, Malaysia (2011-12), have
helped shape and refine a book that is unique in approach,
organization, and pedagogy in the context of a major set of
problems of Development.
This study resulted from five years of living and teaching as a
professor of development economics at Addis Ababa University,
Gondar University and Debre Birhan University in Ethiopia as well
as travel Kenya. These experiences have helped shape and refine a
book that is unique in approach, organization, and pedagogy in the
context of a major set of problems, such as capitalist crisis,
development problems, poverty, inequality, unemployment,
environmental decay, and rural stagnation.It proceeds to evaluate
the economic growth in historical context, and focusing on major
economic and international trade trends.
The standard development and growth theory and practice in the
post-Second World War era gravely misled about the key determinants
of economic development. The postwar models focused mainly on the
patterns of savings and investment by a representative household
and firm. According to such models, the biggest development
challenge was raising the rate of capital accumulation. The
socialist economies-including the Soviet Union, China and, in case
of even India, they took the emphasis on capital accumulation to
the extreme, by employing various forms of compulsion, including
extreme suppression of peasant incomes, to raise national saving
rates in order to speed industrialization, urbanization and
development. The savings-led model of development proved to be
inadequate both in theory and in practice. China and India are the
largest economies today, which have fully integrated into global
markets but there are fundamentally different conditions in the two
places such as differences in the extent of urbanization,
industrialization, and rural development, even differences in
solving poverty and unemployment problems.
This book focus on two themes: China's experience of economic
growth and poverty reduction, including the contribution of
international assistance, and its relevance for other developing
countries, particularly in Africa. China's economic co- operation
with Africa and the lessons that China can share with each other to
increase the collective impact of foreign aid on transforming
agriculture and reducing poverty in Africa. This study reviews the
contribution of agriculture and rural development to the people by
examining the experience of some developing countries as documented
in case studies. The countries fell into three distinct regional
groupings based on various international and national statistics
such as the UN based FAO, and the World Bank's reports on the
conditions of agriculture and rural development, land and labor
productivities in Africa, Asia and Latin America.
Poor countries have been affected by the crisis in various ways and
more than previously thought. This study, based on research by
developing country researchers, sheds some light on what is really
happening at the country level, and goes beyond vulnerability
studies or global forecasts. Why does affluence coexist with dire
poverty not only across different continents but also within the
same country or even the same city? Can traditional, low-
productivity, subsistence societies be transformed into modern,
high productivity, high-income nations? To what extent are the
development aspirations of poor nations helped or hindered by the
economic activities of rich nations? The series of the current
global economic and financial crises especially in the USA and the
European Stock Exchange Markets, in the international division of
labour and the global distribution of economic and political power
led by free markets economies; that clearly indicates the collapse
of Adam Smith's ideology and the Thatcher-Reagan free-market model
that dominated thinking for 30 years has been discredited. A
practical solution of the current ills is possible.
This book deals with the concept of globalisation, its history,
instruments and problems for the African continent. While
identifying it as one of the recent developments currently changing
the physiognomy of global politics, it specifically focuses on its
challenges, consequences and implications for Africa particularly,
in the realm of equality of membership, requisite inputs into the
policy process and, the encapsulating assertiveness of the global
village. In the process, it was argued and revealed that,
globalisation is the final conquest of capital over the rest of the
world and that its "antecedents" and "uneven thesis" are
explainable within the one- arm banditry and ethos of capitalism.
Furthermore, it was argued that this will continue to be so,
irrespective of its aim at the transcendental homogenization of
political and socio-economic theory across the globe and its
purported benefits to mankind. The central thesis of our study is
that the asymmetry of power and interests of the member states of
the global village, as well as the lopsidedness in the rules of the
game there-in, cannot benefit Africa and her people.
The approaches applied in this book are carefully designed, and it
takes into consideration the existing reality of the developing
nations regarding national economy, its level of development and
maturity. Wherever is possible, the book furnishes students with
objectives or hypothetical examples to support them. I believe that
this approach will enable the students to learn the science of
economics at macro level and, at the same time, take a glimpse of
their country's position on the international scale.
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