Globalization and Local Economic Growth in South Africa

Wim Naudé, Waldo Krugell and Marianne Matthee

Chapter 2 in Local Economies and Global Competitiveness, 2010, pp 45-74 from Palgrave Macmillan

Abstract: Abstract The relationship between globalization1 and economic development is a topical and controversial one. Many economists see the benefits of globalization outweighing its disadvantages, and ascribe the rise in living standards, especially in Asia to the openness of trade brought on by globalization. Dissenting voices however, point to globalization as a contributing force to global inequalities and for locking poor countries into disadvantageous positions relative to richer countries (see for instance the summary in Wade, 2004). Following the financial crisis of 2008, many are arguing that financial integration and openness has gone too far, and that it is in the interest of developing countries to delay or roll back financial openness (for example, Obstfeld, 2008).

Keywords: Capita Income; Local Economic Development; South African City; Spatial Mismatch; Export Diversification (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29496-7_3

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DOI: 10.1057/9780230294967_3

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