Globalization: Blessing or Curse for the Economy of the Developing Countries?

Md. Sabit Bin Islam and Mohammad Mukit

International Journal of Science and Business, 2019, vol. 3, issue 1, 29-36

Abstract: Nowadays globalization is a debatable topic regarding the economic growth of the developing countries around the world. This paper tries to determine the aspects associated with this argument and explains the effects of globalization in the developing countries in three important and co-related fields i.e. economic and trade processes, education and health systems and culture on the basis of some of the scholars’ arguments expressed on the subject. In the recent past, there have been the pros and cons of globalization in developing countries. Some argue that globalization is indeed a curse to the developing countries as it can neither be rejected nor fully be applied to its national policy. However, many others suggest that globalization should be looked at in all its manifestations and from different angles it is a blessing for those countries. In order to address this issue, when considered from the economic perspective, the negative economic impacts of globalization should be minimized and exportable capacity of the developing countries’ economy in the global market should be maximized in a gradual manner. In practice the study will give the practitioners and the relevant part the knowledge to improve business in developing countries.

Keywords: Globalization; Liberalization; Capitalism; Poverty; Inequality and Developing Countries (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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