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Globalisation and its challenges for OIC countries

Lim, Guan Choo and Samimi, Parisa and Buang, Abdul Aziz (2013) Globalisation and its challenges for OIC countries. Australian Journal of Basic and Applied Sciences, 7 (1). pp. 237-245. ISSN 1991-8178

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Official URL: http://ajbasweb.com/old/ajbas/2013/January/237-245...

Abstract

Globalization is a multifaceted and complex process casually refers to variety of phenomena that reflect increasing integration of economies around the world. As countries are speeding up their openness in recent years, there have been increasing concerns related to the globalization and its impacts on different aspect of life. Like other developing countries, the OIC countries were also seeking to enhance their share in the global economy. In fact, the new challenges facing these countries are how they increase the opportunities and decrease costs of globalization. This article attempts to shed light on the effects of globalization and its challenges in the case of OIC countries. We conclude that the OIC countries need to do a lot of homework to make use of globalization benefits. On the other word, there is urgent need for them to design and implement efficient polices. We categorized these policies into two groups. The first group of policies will encourage the foreign capital flow in the countries. In addition, it recommends policies for OICs to benefit from foreign capital. The second group of policies concentrate on the recognition of comparative advantage of each country and diversification of the export of OIC to improve international trade.

Item Type:Article
Uncontrolled Keywords:field of research, globalization, economic growth
Subjects:H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:Management
ID Code:40448
Deposited By: Narimah Nawil
Deposited On:14 Aug 2014 11:07
Last Modified:26 Mar 2019 16:08

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