Frank incidentally happened to be there during 1960’s and was influential in spreading dependency school thoughts in English speaking part of the world. Dependency perspective was a reaction against existing theoretical categories and development policies which were based on historical experience of the European and North American countries. On dependency theory Frank says, they were directed at once against development theory and policy derived from (or camouflaged by) neoclassical and monetarist development theory; against Keynesian and structuralist explanations; and against CEPAL/ECLA, Alliance for Progress, and orthodox Marxist and Communist party theory, policy and praxis
When it comes to comparing the past with the present, the idea of globalisation is deliberated quite often. The twentieth century coined the term ‘globalisation’ as international organisations were introduced, aiming to reduce trade barriers and maintaining healthy global trade relations. On the other hand, the twenty-first century induced a fear of globalisation as companies were outsourcing their production allowing certain societies to continue development while others remained constant. In June 2016, Brexit (Britain’s exit) took place because the majority of the United Kingdom (UK) voted to leave the European Union (EU). This event exhibits people disrupting the political mandate by voting against cultural and economic globalization.
1. Introduction The speed at which knowledge is shared is rapidly increasing in today’s global economy and lets the world move closer together. One of the key drivers in this process is global trade: Importing and exporting goods and services is becoming more important, not only for global players, but also for countries, which seek to establish free trade agreements with other nations to import and export as effectively as possible. Erixon held that “Every country with a stake in world trade is now negotiating bilateral free trade agreements”, describing the current demand such contracts (Erixon, 2013, S. 18). Free trade agreements are pacts made between two or more countries with the main intention of increasing trade, which essentially contributes to growth and more jobs in an economy.
Furthermore this clarifies the ongoing process through the way countries and people communicate and integrate. In which has caused impacts to the world in numerous of ways i.e. socially, economically and culturally. For instant globalisation is seen as a means for economic development. This refers to the integration of “the domestic economies with the world and the inevitable consequential increase in economic interdependence of the countries through trade, financial and investment flows, freer factor movements and exchange of technology and information.” (Ogbabu & Ameh, 2012, p.49).
The reason of the expansion of the regional trade agreements is that FTA reacts to the changes of world economy fast and serves as an important component of trade strategy to achieve significant economic growth. It is very important to examine the benefits that FTAs give to countries because it offers clues why Korea proactively forges FTAs. Benefits of FTA FTA opens up new areas to competition and innovation by contributing to improvement of productivity. It provides better jobs, offers investment opportunities and help inducement of foreign investment. Since keeping their agreements I the base for international trade among traders, FTA create more stable environments for countries and companies to trust each other.
He offered an idea that how a country might play a game strategically and could be successful in extracting great levels of revenues from trade, by implementing new trade theories. The comparative advantage theory of Ricardian gained a new aspect as Porter emphasized on development of comparative advantage or innovativeness by improving to sustain greater shares of market. Therefore, the idea of productivity that can be work to attain greater levels of international competitiveness (IC) emerged [Porter (1990)]. Indices based on productivity are extensively used in the measurement of competitiveness. As per Porter point of view productivity is the most valuable thought in international competitiveness.
Foreign development assistance has helped to increase the growth rate of developing countries (Papenek 1973, Levy 1998). They established that in controlling for variables such as institutions and policies, geography, political conflicts, there was a positive relationship between aid and
In general, modernization theorists are concerned with economic growth within societies as indicated, for example, by measures of gross national product. Mechanization or industrialization is ingredients in the process of economic growth. Modernization theorists study the societal, political, and cultural consequences of economic growth and the conditions that are vital for industrialization and economic growth to take place. Essentially, modernization theory suggests that societies that have advanced technology especially in industrial sector, produces not only economic growth but also structural and cultural modifications that makes absolute statements regarding the success of people. The relationship between developed and developing world also boosts up.
1.0 Introductiaon In the era of globalization the longer follow the civilization of the times, the relationship has been growing international expanded. Not only in international relations, technological advances are also very instrumental in this era of globalization. In international relations was followed by various countries around the world . In international relations there are many cooperation undertaken, among which the business of politics, business security and order in the State, the export and import commodity business, business, diplomatic relations etc. In international relations communications are also used to support the success of such cooperation.
Country can have many benefits particularly in increasing value added and employment as well as diffusion of technology and management, and access to world markets if it strengthens the linkages between multinational corporations. Linkages usually develop domestic industry and it allows domestic large corporation to grow and move into export markets and it is easiest part of broadening networks and it must be