There is now an increase in the inflow of foreign direct investment to developing countries as more than a quarter of world foreign direct investment inflows were received between 19 and this has increased yearly (World development indicators in Bertucci & Alberti 2001).From US billion in 1980, private capital flows to developing countries increased to US 0 billion by 1997 (Bertucci & Alberti 2001).This widely accepted definition shows the way in which globalization today connects the cultures and communities in one corner of the world to development occurring in another country.Tags: Network Security Research PapersEssays For School DisciplineNature And Nurture EssayThe Big Lebowski EssayTheodore Roosevelt The Strenuous Life Essays And EsHesi Critical Thinking Practice QuestionsMedical Case Study LayoutHomework For 5th GradeForce Field Analysis Problem Solving
Through the elaboration and adoption of market-oriented policies and regulations at both the international and local levels, the national governments have played a very vital role in allowing greater interdependence and economic integration of specific activities (Bertucci & Alberti 2001).
The most formidable force is the economic dimension of globalization as it is the driving force for both the social and political aspects (Ibrahim 2006).
To the lawyers, it has to do with ‘the threatened changes in legal status of states and their citizens” (Saker et al. It means different things to different people, but the bottom-line is that these disciplinary-based viewpoints fail to take into consideration the multiplicity and complexity of change processes, and therefore fail to appreciate their effects, both directly and indirectly.
Globalization is widely accepted and referred to as ‘the widening, deepening and speeding up of world-wide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual’ (Lawal, 2006).
For instance, it played a significant role in the ability of some countries to achieve independence.
Taking the case of Ghana for example, ‘the end of the Second World War was significant for Ghana’s gaining independence and a turning point in the history of the Gold Coast’ (Ofosu 2010).And just like Scholte argued that situations occurring in a country thousands of miles have a way of affecting the economic, social and political situations in one’s country, the rising up of capitalism in the United States and Socialism/Communism in the Soviet republics were to Ghana’s benefit as they assisted in the achievement of independence.The same thing for Nigeria, Rwanda, and a whole lot of other developing countries in which occurring world events positively impacted their abilities to achieve self-rulership.They include entrepreneurship, liberalization of trade and investment, technological innovation, and global social networks (Bertucci & Alberti 2001).Although it is believed in many quarters that the two major forces behind globalization are entrepreneurship and technological innovation, these two alone cannot give an explanation of the process of improved economic integration.Free 3000 words Globalisation Essay: The concept of globalization is currently a popular but very controversial issue, and has been one of the most widely debated issues since communism collapsed.‘Debates currently raging about globalization include whether it even exists, whether it is more important now than at some earlier date, whether it is displacing the nation state, and whether it is more important than regionalism or localism’ (Stallings 2000).And the spending of these funds on improving the education, health, social, and transport infrastructure of the developing nations aids in improving the standard of living of the people.Thanks to globalization, developing countries now have access to new markets.But looking closely at the impacts of globalisation on developing countries, one would observe both sides of the coin, in that it has both positive and negative impacts.Globalisation has had a lot of positive effects on developing countries.