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Developing Countries and the Global Economy

Despite the positive view that most of the academic researchers and the economists hold about the positive impacts of globalization, there are sufficient empirical evidence that exhibits the adverse impacts of globalization mainly experienced by the developing economies. Lot of research studies has established the relation between the increase in global integration and growing inequality in developing economies. Many developing nations especially the sub-Saharan countries experience potentially disastrous consequences and face significant economic challenges in the recent times. While many empirical studies advocate that globalization enhances the macroeconomic stability in developing economies, others argue globalization significantly increase the risk of macroeconomic volatility (Patrick Mutua Kioko.2012).
             II. Objectives.
             With the help of empirical evidence, recent data and statistics and including some new research, this paper provides a critical review on the effects of global integration for developing economies. The primary objectives of this current study are:.
             1. To explore the role of global integration in promoting the economic growth of the developing economies.
             2. To investigate the macroeconomic impacts of financial integration in the developing economies.
             3. To examine the distributional impacts of Globalization in the context of developing economies.
             III. Positive Impact of Global integration to developing countries.
             1. Financial integration promotes economic growth in many countries: A case for China.
             China's integration with the global economy has increased exponentially during the last two decades. As a positive consequence China has shown remarkable progress that is reflected in its economic performance and prosperity. During the last three decades China is able to maintain very high rate of economic growth. Economic integration in terms of financial liberalization and open trade policy largely account for such a phenomenal growth and make them one of the most attractive destinations for foreign direct investment.


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