* Globalization describes the process by which regional economies, societies and cultures have become integrated through a global network of ideas. * This integration has been fueled by technological advances in communication, transportation and trade that break down national divisions and barriers. * Globalization is recognized through a number of trends such as growing economic integration and liberalization; trade regulation; convergence of macroeconomic policies; modification of the role and concept of nation state; proliferation of supranational agreements and regulatory bodies; and globalization of information systems. * These trends are associated with both positive and negative impacts on human well-being, the use and conservation of the environment, equity within countries and between developing and developed countries, participation and democratic decision-making, food security, poverty alleviation and others.1 http://elearn.usiu.ac.ke/webapps/portal/frameset.jsp?tab_tab_group_id=_2_1&url=%2Fwebapps%2Fblackboard%2Fexecute%2Flauncher%3Ftype%3DCourse%26id%3D_4144_1%26url%3D- GLOBALIZATION LECTURE.PPTX EFFECTS OF GLOBALIZATION ON DEVELOPING COUNTRIES
Globalization has brought in new opportunities to developing countries. Greater access to developed country markets and technology transfer hold out promise, improved productivity and higher living standards. But globalization has also thrown up new challenges like growing inequality across and within nations, volatility in financial markets and environmental deteriorations.2 This paper assesses the positive and negative impact of globalization on developing countries in the following dimensions; 1. Economic
POSITIVE ECONOMIC IMPACT
Increased Standard of Living
Economic globalization gives governments of developing nations access to foreign lending. When these funds are used on infrastructure including roads, health care, education, and...