Globalization and the Poorest of the Poor: Global Integration and the Development Process in Sub-Saharan Africa

摘要

Most recent studies of globalization describe the experiences of developed countries, and studies focusing on developing countries usually ignore sub-Saharan Africa. Yet Africa's experiences with globalization are unique. While the World Bank and the International Monetary Fund (IMF) encourage African countries to open their markets, Africa is in some ways excessively open. The ratio of extra-regional trade to GDP in Africa is twice that of Latin America and nearly four times that of Europe. Furthermore, globalization is not a new phenomenon in Africa―Africa began to be integrated into the global economic system in the sixteenth century, and this integration has proceeded, albeit unevenly, since that time. Nevertheless, Africa is also a marginal player in global trade in that it is responsible for less than 2 percent of world exports and imports and attracts a declining share of global foreign direct investment (FDI). This paper describes the historical evolution of the globalization process in sub-Saharan Africa and the institutional manifestations of the globalization process. In contrast with the more auto-centered, aggressively expansionist structures of developed and newly industrialized economies, African economies have been and still are predominantly externally centered and passive in the international sphere. Understanding these issues is crucial if Africa is to design development policies to break the cycle of poverty and underdevelopment.