The Effects of Globalization on African Economic Development: The Nigerian Experience
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Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Arts and Humanities (IJAH) Ethiopia
Abstract
The growing global economy which was fastened mostly by international trade and technology has no
doubt crated a global dual phenomenon where regions continued to experience economic
development at the expense of others. This paper argued that though third world countries of Africa
are fully incorporated into global capitalist economy, the benefit of this inescapable global
phenomenon is not evenly distributed. Secondary sources of data were used as essential methodology
for this work. With the help of Marxist theory of political economy and review of literature, the paper
further posited that Nigeria economy in the current wind of globalization remains the clientele
economy in the competitive global market. The country remained an exporter of raw materials and
importer of finished products thus, making the country potential market for foreign investors. The
work therefore recommended economic diversification and control of activities of Multi-national
Description
Keywords
Effects of Globalization, African Economic Development