Impact of Globalization on Pakistan Economy

Topics: Research, Globalization, World Trade Organization Pages: 19 (4980 words) Published: March 10, 2010
Context Page. No.

1. Title 3

2.0 Background and academic context 3
3.0 Signification of project 4

4.0 research questions 5

5.0 literature review 5

6.0 Aim and objective 9

7.0 Research methodology 9

8.0 Research ethics 13

9.0 Resources 15

10.0 Project timetable 16

11.0 bibliography 17

1.0 Title: Impact of globalization on Pakistan economy

(With Reference to Foreign Direct Investment)

2.0 Background and Academic Context

Globalization is multi-dimensional term. It has social, economic, political and cultural commutations. “It is defined as a process of rapid economic integration among countries driven by the liberalization of trade, investment and capital flows, as well as technological change” [Torres, R (2001)].

World is changing more rapidly and dramatically at the start of the twenty- first century than ever before. Many of the changes seem to be associated with something that has been called “globalization.” The story of globalisation is probably familiar enough and it can be told relatively simply. People, ideas, images, news, information, entertainment, pollution, war, crime, goods and money, it is said, now all travel the globe.

They are crossing national boundaries and connecting the world on an unprecedented scale and with previously unimaginable high speed. In ordinary people life some thing is always happing all the time, some events, some actions and some decisions that some time take place for away from where they live or where they work. Many things have impact on life such as politics, culture and economics across the globe. (David Held, 2000)

This trend of globalisation started after World War II. There are mainly two main factors that accelerated this process since mid-1980.

Liberalization of trader and capital markets.
Technological advancement.

These factors have shown the cost efficiency in computation, transportation and communication in the different parts of the world. Companies can operate their different practices effectively in different corner of the world. Technological change and innovation are acknowledged almost universally as determinants of globalization.

3.0 Significance of project

Globalization has significantly boosted the economic growth of different countries. Globalisation of economy is not a simple or straight away process it is historical process which evolved as growth in technology, new thoughts and ideas and new invention which came across the world. This kind of economic globalization is not new. Much of the expansion of international economy in the 19th and early 20th centuries took this form and was further associated processes of international migration. Flows of capital in form of loans from the major Western nations were also significant, although their relative importance was nowhere near as it is now. (Robert J. Holton, 1998).

When we talk about integration of economies, it means we are talking about sharing of experience,...
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