Benefits from globalization: Evidence in the context of global interaction

Abstract

Globalization, a historical process, is the result o f human innovation and
technological progress. Its’ economic benefits are; faster growth, cheaper
imports, greater exports and investment and new technologies, that few countries
have enjoyed in recent years. Despite all the gains that the Globalization brings,
it has also created losers- mostly developing countries. The significance o f
Globalization differs for individuals, groups and countries. The main focus o f the
paper is that, the impact o f various global flows varies depending on the stages
o f economic development o f a country, its access to technology, strength o f its
state and democratic institutions, and cultural characteristics. This paper, aims
to show the impact o f Globalization on the developing countries focusing on
trade, labor, migration flows and socio-cultural context.