Globalization and Africa: Implications for Human Development

The present paper aims to assess the incidence of trade and financial
globalization on human development in the African continent.The choice ofAfrica ismost
relevant giving the continent’s appalling statistics in development: human and economic.
This investigation will therefore contribute to the literature in the following dimensions:
. The use of very updated data (1996-2010) provides results with more focused
policy implications.
. The assessment is based on 52 of the current 54 countries in the continent, thus
providing an in depth and general picture of the financial and trade trends of
globalization in the continent.
. While literature on the openness-human development nexus is based a Human
Development Index (HDI) unadjusted for inequality, this paper employs the
inequality adjusted HDI first published in the 2010 Human Development Report.
Thus, in substance this study uses a novel HDI that has integrated criticisms
labeled on the index over the past two decades.
. A critical analysis of the effect of the globalization process on constituents of the
HDI as well as other components not captured by the HDI.
. Discussion of relevant policy implications based on the findings.

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