The Impact of Globalisation on the Economic Development of Cameroon

Topics: Economics, Economic development, Economic growth Pages: 16 (5306 words) Published: October 31, 2010
Table of Contents



1.0Globalisation and Economic development2




1.0 Impact of Globalization on the Economy of Cameroon17

1.2 The impact of development partners20

1.3 The way forward for Cameroons Economic Development22



Throughout the past years, world output has been increasing and many countries are benefiting from improved cross-border trade and investments. Others countries have however suffered because economic regimes are inadequately managed and this weakness reduce their capacity to successfully compete globally (Schneider and Enste, 2002). The International mobility of capital, resulting from advances in communications technology and liberalization of financial markets has increased as the global economy witnesses the boom of market forces. The opening of domestic markets to competition, Deregulation, and privatization are also features of the current global wave. Nonetheless, this same process has seen rising inequality among nations. The liberalization of the world economy, for example, has proceeded in a manner that the growth prospects of developing countries are being undermined. Thus, the process of globalisation and economic integration has had effects on many countries economic development. This paper attempts an exploration of globalization and its impact on the economic development of Cameroon. The aim is to situate globalization in the context of Cameroon’s economic development. To complete this task, the paper is separated into a number of chapters. Apart from the introduction, chapter II provides a literature review of the notions of globalization and economic development, while exploring what other authors have written about the subject. Chapter III provides an analysis of the impact of globalization on Cameroon’s economic development while chapter IV contains the concluding remarks.


Globalization is multidimensional, affecting all sectors of economic life, cultural, social and environmental, as well as relations amid governments and nations on the five continents. Globalization is viewed, in particular, by a spiralling of cross-border trade and increased financial and foreign direct investment flows, encouraged by rapid liberalization and advances in information technologies. For many countries, this worldwide process has made the pursuit of development and maintenance of internal and external stability a very difficult and elusive task. Yet, globalization holds out to participants the guarantee of growth in trade and international ventures; however, it also heightens the risks of instability and marginalization. 1.0Globalisation and Economic development

The terms Globalisation and Economic Development have become mainstream everyday words, but what are their real meanings? Are they irresistible trends? With participation in Globalisation, will developing countries like Cameroon lose their independence and fall into the margin of global capitalist economic systems? What are the factors that affect Globalisation and Economic Development? What Theories on Globalisation and Economic development exist and how different are they? 1.1GLOBALISATION

Globalisation can be seen as one of the most important force impacting on the economic development of many, if not, all countries. According to Brittan (1998) globalisation is viewed “as a whirlwind of relentless and disruptive change which leaves governments helpless and leaves a trail of economic, social cultural and environmental problems in its wake.” Globalisation is a term used as catchphrase without showing its implication. Walker en Fox (1999) held that, the global integration of trade can be seen...

References: Globalization against Internationalisation and Regionalisation
(Dicken, 2007), believes that globalisation can sometimes be confused with internationalisation
1.1.2 Globalisation trends
The world has become a global village, a simile that is often summoned to describe global interdependence and increasing integration among, and the integration of economic activities of societies around the globe (Ajayi,2001)
1.1.4 Factors Affecting Globalisation
In his book Globalisation, Economic Development and Inequality: an alternative perspective, 2007, Reinsert outlined a number of factors that affect globalisation
1.2.3 Economic Development Strategies
Debraj Ray (1998) described in great details some Economic development strategies in his Economic Development
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