1945

Overview: LDCs in a globalizing world economy

The growing interest in both official and private quarters in the phenomenon of globalization and its companion, the process of economic liberalization, has generated much thinking and analysis about its origin, its impact on economies and societies, and on the pattern of its likely evolution. Although much publicity has surrounded some of the analysis, it is clear that these multifaceted phenomena have important implications which governments, businesses and analysts all over the world must address. Much of the analysis and thinking has focused on the more visible aspects of globalization, notably, the sea-changes taking place in the pattern of production, pace of diffusion of knowledge and information and in the convergence of factor markets. Less well understood and analysed, however, is the phenomenon of marginalization.

Related Subject(s): Economic and Social Development
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