Globalization, Privatization and Free Market Economy

By C. P. Rao | Go to book overview

CHAPTER 1
Introduction

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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