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MIC Assignment1
MIC Assignment1
MIC Assignment1
UB NUMBER: 10006436
MODULE: MANAGEMENT IN CONTEXT
ATTENDANCE MODE: FULL TIME
TUTORIAL GROUP: A4
MODULE LEADER: PROFESSOR NANCY HARDING
PROGRAMME: INTERNATIONAL BUSINESS
MANAGEMENT
DATE OF SUBMISSION: 18th NOV 2010
983
Number of words
(excluding references)
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UB NUMBER: 10006436
Globalisation has had adverse effects and implications and this paper
examines as it affects developing countries. It’s a comparative review of
two articles; “The evolution of development economics and globalisation”
by Piasecki and Wolnicki (2004) and “Could developing countries take the
benefit of globalisation?” by Hartungi (2006). Effort was made to also
identify points of congruence between the two articles as well as different
views on globalisation trends experienced in developing countries. The
general consensus is that globalisation theories reflecting economic
growth and development are not a true representation of economic
realities in developing countries. It is also clear that the articles do not
identify the positive effects of globalisation. A holistic unbiased approach
is thus encouraged in the understanding of globalisation as there is the
tendency to get carried away with theoretical approaches while ignoring
practical implications.
Piasecki and Wolnicki (2004) on the other hand, focuses on the evolution
of development economics and its failures, the intervention of
globalisation as a solution and the experience of economic and social
growth for developing countries. A key point identified in the article is the
need for development economics to accommodate “socio-cultural
complexities” crucial in designing and developing models of economic
growth. Development economics failed to address the growth needs of
developing countries resulting in high poverty levels and inequality.
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UB NUMBER: 10006436
Hartungi (2006) quotes Stiglitz (200) in arguing that “The impact of trade
liberalisation caused trade liberalisation caused inefficient industries,
which are mostly found in infant industry to close down as a result of
pressure from international completion. Piasecki and Wolnicki (2004) also
agrees with this by citing “excessive openness to the world economy and
the inability to manage this openness” as responsible for the ripple effects
of under-development in developing countries.
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UB NUMBER: 10006436
REFERENCES