The Role of Globalization in Economic Development
7 Pages Posted: 14 Mar 2013
Date Written: September 14, 2012
Globalization is the process of increased interconnectedness among countries. The prosperous economic development that is typically gained because of the increased interconnectedness among countries usually results in a better standard of living, and an overall improved quality of life. The successful economic development of a nation hinges on its ability to globalize. Given that the international integration of national economies has such a profound effect, globalization plays a central role in determining the future of the world. This paper attempts to explain what role globalization has played and its overall impact on economic development.
Keywords: Globalization, Economic Development
JEL Classification: A10, A22, O10, O19
Suggested Citation: Suggested Citation