THE EFFECTS OF ECONOMIC GLOBALIZATION ON DEVELOPING STATES: THE CASE OF THE REPUBLIC OF BENIN (2016–2021)

Year 2023, Volume: 2 Issue: 1, 70 - 82, 30.06.2023

Ousmane Amadou

Abstract

The effects of economic globalization on developing states have always been a topic of concern since the beginning of the 20th century. Scholars and policymakers were drawn to the debate over the consequences of economic globalization on developing countries by two key considerations: The emergence of International Political Economy as an autonomous and distinct discipline in International Relations and the transformation of the "global economy". This study intends to investigate the consequences of economic globalization on third-world countries, particularly after World War II international economic order. The Republic of Benin will be used as a case study to empirically test the impact of neoliberal economic policies on developing countries. No scholarly article has tried to analyze the effects of economic globalization on Benin alone. Research on the topic have analyzed sub-Saharan African countries collectively, which is why this analytical research was carried out to examine the issue in Benin context, particularly after March 2016 nationwide privatization. A mixed research methodology has been used to access and collect secondary data from government intuitions, international organizations, and academic journals. Initially, three different ongoing debates on economic globalization have been examined using qualitative data. Then, statistical evidence was used to test the applicability of the assumptions in the case of Republic of Benin. The study has been concluded that the argument of the hyperglobalist best reflects how the Republic of Benin is affected by the economic globalization.

Keywords

The Republic of Benin, Economic Globalization, Privatization, Economic Multilateralism, Trade Liberalization

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