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The Impact of Globalization on Sub-Saharan Africa

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Globalization of Financial Institutions

Abstract

This study examined globalization and Sub-Saharan Africa (SSA) with emphasis on its impact on growth and poverty reduction in relation to other regions. The existing literatures on the implication of globalization on economic growth and poverty were reviewed. The study reveals that SSA has been marginalized or has not fared well in spite of the high integration of its member countries. Indeed, SSA has relatively remained poor and with high incidence of poverty. However, in order to maximize the benefits of globalization, Sub-Saharan Africa needs to adopt among others; development of strong production base that is predicated on value-added products, export structures diversification, development of manufactured export capacity and the political-will to implement these policies among others.

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Notes

  1. 1.

    Sub-Sahara Africa is the second largest of the earth’s seven continents and with the adjacent islands covers about 21,787,284 sq. km, or about 20 % of the world’s total land area. It is also the largest of the 12 regions in the UNEP PTS project, comprising about 47 independent African countries. Algeria, Egypt, Libya and Morocco are excluded as these countries belong to the Mediterranean Region under the project. For the purposes of this project, the region was considered to include the following countries and island states: Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros, Congo (Brazzaville), Cote d’Ivoire, Democratic Republic of Congo, Djibouti, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Ghana, Guinea-Bissau, Guinea, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, Sudan, Swaziland, Tanzania, Togo, Uganda, Zambia and Zimbabwe.

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Author information

Authors and Affiliations

  1. Economics Department, University of Port Harcourt, Port Harcourt, Nigeria

    Emeka Nkoro & Aham Kelvin Uko

Authors
  1. Emeka Nkoro
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  2. Aham Kelvin Uko
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Corresponding author

Correspondence to Emeka Nkoro .

Editor information

Hasan Dincer Ãœmit Hacioglu

Appendix A

Appendix A

Tables A.1 and A.2

Table A.1 Impulse response
Full size table
Table A.2 Variance decomposition
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Nkoro, E., Uko, A.K. (2014). The Impact of Globalization on Sub-Saharan Africa. In: Dincer, H., Hacioglu, Ü. (eds) Globalization of Financial Institutions. Springer, Cham. https://doi.org/10.1007/978-3-319-01125-7_4

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