Technology And Globalization In Africa

technology. All in all, transfer of technology can help African countries in all aspect of their economies toward development.

The last but not the least forward matching for the African countries when it comes to development has to do with strategically positioning themselves in the world capitalist system being perpetuated by globalization and its compelling forces. In order for globalization to have positive impacts on Africa’s development, national governments must have the choice to choose among apt monetary, fiscal, trade, macroeconomic and other economic and social policies without heavy-handed intrusion by the developed countries and the multilateral institutions these countries control. In short, a more democratic international economic

Growth rates would at first be about 0.04 percentage points per year higher than the initial growth rate, as the economy approaches this higher steady state. However the major impact of the improved higher education would be an additional 0.06 percentage points of growth in each year as compared to the initial growth rate due to faster technological catch-up. This would result in a total gain of 0.10 percentage points in the first year in economic growth, this growth effect slowly dissipating over time as the economy approaches its steady state given its inputs and the technology catch-up is completed. If Africa were to raise current average individual higher education levels to those of the country with the highest rate on the continent (South Africa), from 0.147 years per person to 0.532 years per person, steady state income per capita due to factor inputs would rise by 4.7%. Growth towards this higher steady state would rise by 0.09 percentage points in the first year. If the increased education were concentrated in tertiary education stock, the rate of technological catch up would rise by 0.13 percentage points in the first year, resulting in an overall increase of 0.22 percentage points in the rate of economic growth in the first

You will find the first one in World Bank, IMF and Africa Development Bank reports and in articles across the globe about ‘Africa Rising’ . This reality depicts Africa as a continent that is forging ahead onwards and upwards. And some of the world’s best performing economies are indeed in Africa, such as Angola and Mozambique, which are growing at an extractive powered rate of knots. Meanwhile, other southern African states are also surging ahead with Zambia, Zimbabwe and the Democratic Republic of Congo (DRC) growing at speeds not seen in a very long