Globalization and competitiveness

Description:

The paper focuses on the interface between globalization and poverty reduction in Uganda, beginning with the advances in information technology that have transformed the globe into a virtual village. The paper presents the macroeconomic framework that has characterized the global economy and its distorted benefits to developing countries. The exchange parity between exports and imports in both factor and product markets has been skewed against poor countries such as Uganda, exacerbating rather than reducing poverty. It is argued that globalized markets require a competitive capacity that the Ugandan economy does not have. It is because of this that most sub-Saharan countries, including Uganda, have globalized through systemic shocks rather than making use of opportunities. Global competitiveness is, however, inevitable if the Ugandan economy is to catch up with global trends and patterns. Globalization can lead to adverse effects if poor countries open their economies without thinking. Globalization must be cautiously embraced if development is to be sustainable.

Date Issued:

2001-07-01T00:00:00Z

Data Provider:

Michigan State University. Libraries

Collection:

Journal of Social Development in Africa

Language:

English

Rights:

In Copyright

URL:

https://n2t.net/ark:/85335/m57s7k50z