Determinants of Globalization and Growth Prospects for Sub-Saharan African Countries

Fofack, Hippolyte

关键词: ACCOUNTING;    ADVANCED ECONOMIES;    ADVERSE EFFECT;    ASSET PRICES;    BALANCE OF PAYMENTS;   

DOI  :  10.1596/1813-9450-5019
RP-ID  :  WPS5019

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Over the decades leading to the globalfinancial crisis, the world witnessed a deepeningintegration of world economies, irrespective of a country sgeographical location on the spherical space. This processof increasing interdependence of world economies, mostnotably illustrated by the scale of financial flows andmovements of goods and services now termed globalization,has been facilitated by research and development andadvances in technology, especially in the area ofinformation and communication technology. In spite of itsglobal nature, its expected benefits have not been uniformlydistributed, however. This paper shows that the countriesand regions that are driving the process of knowledgecreation and production of high-tech and manufactured goods,building on frontier technology, are benefiting the mostfrom globalization, increasingly acting as drivers andrelegating Sub-Saharan Africa to the end-user status. Inthis process, the income gap between Sub-Saharan Africa andthe globalizers has increased even more. However, the paperalso shows that raising the level of technological endowmentin Sub-Saharan Africa to that of developed countries couldgo a long way to bridge Africa's output gaps andimprove its export performance in the new globalizationlandscape of the post-financial crisis era.