Globalization is the process by way of which countries recognize improved connectivity and interdependence globally. The procedure has been increasing in the previous two decades simply because of innovative technologies that has led to far more travelling and spread of data. Globalization is crucial to economies simply because it brings with it options for nations to interact wit the rest of the world. Even so, in spite of the availability of these possibilities, a nation need to have adequate sources to embrace the opportunities. Most African economies have been performing poorly and it is only people few great carrying out economies that have been in a place to embrace the possibilities of globalization. Most economies encounter the problems of bad governance and misappropriation of financial sources. For that reason, most African economies have not fully benefited from the positive aspects of globalization. This review will examine the impacts of globalization on African economies with specific reference to Kenya.
This research will examine the impacts of globalization on African economies with specific reference to Kenya. The review will look for to fulfill the hypothesis that globalization has positively impacted the financial efficiency of Kenya. The aim will be to locate out the impact of globalization on the Kenyan economic system.
Globalization and its impacts on Africa
Globalization is the method via which there is an improved connectivity and interdependence of the globe markets and firms. For the final two decades, the globalization method has speeded up due to innovative engineering that has made it simpler for men and women to travel anyplace any time without issues. Additionally, the procedure has created rapidly due to the improvement of advanced telecommunications infrastructure and the internet. According to Nsibambi (2001), the interconnection of the world economies offers several possibilities however the opportunities are accompanied by increased competition. Herbst (2005) argues that as globalization increases, the interconnectivity of nations increases bringing options to every single economy African economies included.
According to Herbst (2005), the African economies have always been exposed to globalization. Several options come with globalization to African countries. Nonetheless, despite these opportunities, the African economies have constantly performed dismally. According to Nsibambi (2001), the African economies this kind of as the Kenyan economy have not usually carried out poorly and this has impacted their efforts to integrate into the worldwide economy. A large component of the continent is nonetheless a producer of comparatively unprocessed raw supplies.
Tsai (2006) argues that there are numerous reasons that a lot of African economies perform poorly even with growing options arising from globalization. In 1 of the trends, the exceptionally massive countries execute poorly. For instance, DRC, Ethiopia and Nigeria account for about 37% of the African population and they have a per capita income that is under the continental typical. The problem with a lot of of the African economies is poor governance. As several African countries fall into diverse categories of economic development and improvement, it is only the good executing nations that can efficiently embrace the possibilities that accompany globalization. The rest are unable. Additionally, most of the nations are faced with differential difficulties of globalization. Consequently, regardless of the speedy enhance in globalization, numerous African countries are but to understand its optimistic effects on the economies.
Approaches are the various tactics and approaches that a investigation can use. A study can use methods such as quantitative of qualitative approaches strategies it can also consider a subjective r goal technique. A quantitative analysis is that the employs statistical and mathematical resources in assortment and analyzing of data. This method is commonly utilized in all-natural sciences and it is applied in restricted research in social sciences. On the other hand, a qualitative study utilizes qualitative tools for collecting and analyzing data.  This strategy is mostly used in social sciences (Harvey, 2006, p. 125).
A investigation can also consider the form of a deductive or an inductive strategy to the study phenomena. In addition, surveys, experiments and situation research can also be utilized in a investigation. This review will use qualitative strategies in information assortment and evaluation. A survey with each other with a situation study will also be used (Yin, 2003). The sources of data will mainly be major sources. The two published and unpublished works containing the economic overall performance of Kenya in relation to globalization will be examined.
Harvey, R 2006, Analysis methods in anthropology: qualitative and quantitative approaches, 4th Ed. Rowman Altmira.
Herbst, J. (2005). Africa and the Challenge of Globalization. Accessed on November 9, 2010 from: http://www.thebrenthurstfoundation.org/Files/Globalisation_and_Economic_Good results_Singapore_2005/Africa_Globalization.pdf
Nsibambi, A. (2001). The Effects of Globalization on the State in Africa: Harnessing the Benefits and Minimizing the Fees. Accessed on November 9, 2010 from: http://unpan1.un.org/intradoc/groups/public/paperwork/un/unpan001978.pdf
Tsai, M. (2006). Does Globalization Affect Human Effectively-currently being? Accessed on November 9, 2010 from: http://www.soc.duke.edu/resources/sinet/papers06/Tsai.pdf
Yin, R 2003, Situation Examine Study: Design & Techniques, 3rd Ed. Thousand Oaks: Sage Publications Inc.