Globalization, Privatization and Free Market Economy

Globalization, Privatization and Free Market Economy

Globalization, Privatization and Free Market Economy

Globalization, Privatization and Free Market Economy

Synopsis

The three dominant forces shaping societies and economies around the world are globalization, privatization, and liberalization. Because these processes are interrelated, they must be addressed collectively. The contributors to the volume show that globalization, privatization, and liberalization are multidimensional phenomena that impact not only the economic considerations of governments, but also the sociocultural and environmental aspects of societies. The three phenomena also affect these units of analysis-- which Rao and his colleagues identify as regional, country, industrial, and organizational. The result is a cogent discussion of these powerful global forces, for the academic community, professionals in economic development, banking, finance, international investment, and global commerce.

Excerpt

C. P. RAO

Globalization, privatization and liberalization have become dominant forces shaping societies and economies the world over. With the fall of communism and the decline of socialism in most parts of the world, these processes have accelerated in the 1990s. These three processes are interrelated phenomena. Globalized economies are likely to be more privatized and liberalized economies. On the other hand, privatization and liberalization facilitate the process of globalization of a country or a region. Hence, it is essential that these processes be addressed collectively. This is the major objective of this volume.

Globalization, privatization and liberalization are multidimensional phenomena that have implications not only for the economic but also the sociocultural and environmental aspects of countries and societies. As a secondary objective, these, multidimensional aspects are included in this volume.

The three phenomena that form the focus of this volume also have differing impacts on different units of analysis. For purposes of understanding and analyzing these three forces, the units of analysis can be conceived at regional, country, industry and organizational levels. The chapters in this book deal with all of these, reflecting the multilevel aspects of globalization, privatization and liberalization forces shaping world economies.

This volume is divided into six parts. Part I deals with the conceptual issues of meaning, definitions and differing interpretations and perspectives. Part II addresses the regional issues reflecting the emerging regional integration rather than global integration and the implications of the regional for the global. Part III is concerned with global investment issues and places special emphasis on the big emerging economies. Part IV is devoted to exploring the implications of globalization for certain managerial concerns dealing with human resource management, international marketing strategy and technology transfer. Part V

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