Impact Of Globalization On Myanmar
Globalization is characterized by increases in flows of trade, capital, and information, as well as mobility of individuals, across borders. It is not a new phenomenon—globalization has progressed throughout the course of recorded history, although not in a steady or linear fashion. Evidence shows that countries that have opened up to the rest of the world have done better than those that have not ((IMF), 2002). Financial globalization have positive impact on Myanmar’s. Financial globalization improved communications, increased regional trade links and migrations have strengthened Myanmar’s integration into global economy, and the benefits of globalization are not pervasive and have not brought significant improvement in general social economic conditions (traver wilson, 1993). The empirical evidence suggests that financial globalization has induced a number of countries to adjust their corporate governance structures in response to foreign competition and demands from international investors (m. Ayhan Kose, 2007). Michaely (1977); Feder (1982); Marin, (1992); Thornton, (1996); (Gerdtham, 2011) found that countries exporting a large share of their output seem to grow faster than others. The growth of exports has a stimulating influence across the economy as a whole in the form of technological spill overs and other externalities.
According to Bhagwati (1988); (Gerdtham, 2011)increased trade produces more income (increased GDP), and more income facilitates more trade _ the
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