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Essay / Research Paper Abstract
This 10 page paper focuses on Africa as a point of reference but delves into the success stories of Asian NICs. The problem with NICs and SAPs are discussed in depth. Globalization is then addressed as a problem. Solutions are explored. Bibliography lists 10 sources.
Page Count:
10 pages (~225 words per page)
File: RT13_SA314glo.rtf
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Unformatted sample text from the term paper:
IMF and World bank. The goal of these reforms, it has been argued, is to help African countries imitate the successful economic development experience of the NICs of
East Asia. Yet, there has been a lot of criticism on that front. Boateng (2003) reports on criticism spouted by Joseph Stiglitz who talks about the IMFs priorities and
strategies. He explains that it is important not only to look at what the IMF puts on its table, but what it leaves off is also significant (2003). He explains
that while stabilization is on the agenda, job creation is not and while taxation is a concern, land reform is ignored (2003). Although there is money to bail
out banks, there does not seem to be funds to improve education and health services (2003). As far as countries not borrowing money from the IMF, they are not
immune (2003). What is known as "Article 4 consultations" is something that monitors things to make sure that nations are operating under the rules (2003). The Fund imposes perspectives
throughout the world and the report is really the IMFs grading of the nations economy (2003). Small countries would listen, but the US and other countries with good financial
positions generally ignore the advice (2003). Poor nations cannot do this as if they ignore the Funds recommendations, it is "only at their peril"(2003, p.38). To understand what
has gone awry, one can focus on the IMF, the World Bank and the World Trade Organization (WTO) (Boateng, 2003). He explains that the IMF and World Bank came into
being as a part of the concerted effort to finance the rebuilding of Europe after the Second World War as well as to prevent future depressions (2003). It was
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