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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Globalization and Nigeria's economy
Author:Agbu, OsitaISNI
Year:2006
Periodical:Nigerian Journal of International Affairs
Volume:32
Issue:1
Pages:29-51
Language:English
Geographic term:Nigeria
Subjects:globalization
economic development
global economy
Abstract:This paper argues that, in comparison with the Western world, globalization has had a more negative impact on the economies of the developing countries. It supports this view by examining the growth of trade globally, global flows of investments, the preeminence of transnational corporations and global flows of technology and migration. It argues that a more integrated world has produced a global economy, which although global in manifestation is, however, particularistic in its impact. Taking Nigeria, a market-oriented democratizing State in a globalizing world economy, as an example, the paper argues - after examining the salient features of Nigeria's economy including its industrialization efforts - that the State has become a victim of the 'globalization of national policies and the policymaking mechanisms. It recommends, amongst others, that Nigeria, as a matter of practicality, should collaborate with other countries and multilateral groups of the South in negotiating better terms of engagement with the developed world. Ref., sum. [Journal abstract, edited]
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