Globalization and Social-Economic Development: Progress or Regress
7 Pages Posted: 18 Sep 2013
Date Written: September 5, 2013
Globalization has been developing since 1980 and it was an important reason of some changings and development in not only world economy, but also our daily life. There are some reasons affected on the development of globalization. To exemplify, ending of cold war with the collapsing of Union of Soviet Socialist Republics, acceleration of information technologies and communications with the development of contemporary technologies, declining costs and even increasing saved capital, new demands and other factors let globalization develop.
Economic and social issues and political movements happened in the world in recent years were one of the essential factors of re-actualization of globalization and integration. Some experts point out that, 2008 great “Financial Crisis” having negative impacts on economic and social life was an important result of globalization. On the other hand, “Arabic Spring”, the political movement is another considerable result of globalization. For sure, globalization and integration can directly or indirectly effect such situations. Before starting to analyze the association between globalization and countries’ economies, implementation, regulation and supervision of Globalization in a country and world should be considered.
In our modern life, Globalization can be mainly observed in investment and financial markets. The Republic of Azerbaijan is also one of the participants of globalization process. After gaining its independence in 1991, some essential activities and reforms were needed to be done in order to integrate to the world economy. Other newly independent countries have also been under positive and negative impacts of globalization. Mainly, the effects of globalization on social-economic development will be discussed in this article.
Keywords: Globalization, Economy, Growth, Recession, Integration, Market Forces
JEL Classification: F02
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