International Monetary Fund Research Articles

INTERNATIONAL MONETARY FUND: Reviews and Assessments

INTERNATIONAL MONETARY FUND: Reviews and Assessments

KEY CONCEPTS OF MODERN ENGLISH FINANCIAL DISCOURSE

The study is devoted to the analysis of key concepts of financial English discourse contained in media texts. The research material is based on financial texts posted on the website theguardian.com. The article is aimed at identifying the impact of the selected concepts on a wide audience. The main purpose of the study is to systematize and identify the main concepts that characterize the specificity of the linguistic image of financial concepts in the media context. To achieve this goal, the analysis methodology is used, which involves a thorough study and identification of the key elements of financial English discourse in media texts. The main theses of the study include the analysis of the use of specialized terminology and linguistic features of speech in media materials. The concept of "concepts of financial English discourse" is defined in the article as key ideas, concepts or topics that characterize the specificity of the speech image in the field of finance in the English-speaking environment. These concepts cover financial terms, concepts, principles, theories, strategies and other aspects that are actively used in the speech in the field of finance and economics in English-speaking countries. It has been found that the main concepts implemented in the financial texts on theguardian.com are RISK AND RISK MANAGEMENT, BANKING SERVICES, INVESTMENTS, FINANCIAL MARKETS, FINANCIAL INSTRUMENTS AND PRODUCTS, FINANCIAL INDICATORS AND REPORTS, MONEY AND CURRENCY. The selected concepts reflect various aspects of financial activities, such as risk management, investment, banking, financial analysis, international finance, budgeting, as well as economic concepts that affect financial markets and the global economy. The results of the study demonstrate the significant influence of the information space on the formation of financial English-language discourse for a wide audience of media platforms. The conclusions emphasize the importance of understanding financial terminology and the ability to analyze media texts in order to improve the financial literacy of society.

Listening to patients, for the patients: The COVAD Study-Vision, organizational structure, and challenges.

The pandemic presented unique challenges for individuals with autoimmune and rheumatic diseases (AIRDs) due to their underlying condition, the effects of immunosuppressive treatments, and increased vaccine hesitancy. The COVID-19 vaccination in autoimmune diseases (COVAD) study, a series of ongoing, patient self-reported surveys were conceived with the vision of being a unique tool to gather patient perspectives on AIRDs. It involved a multinational, multicenter collaborative effort amidst a global lockdown. Leveraging social media as a research tool, COVAD collected data using validated patient-reported outcomes (PROs). The study, comprising a core team, steering committee, and global collaborators, facilitated data collection and analysis. A pilot-tested, validated survey, featuring questions regarding COVID-19 infection, vaccination and outcomes, patient demographics, and PROs was circulated to patients with AIRDs and healthy controls (HCs). We present the challenges encountered during this international collaborative project, including coordination, data management, funding constraints, language barriers, and authorship concerns, while highlighting the measures taken to address them. Collaborative virtual models offer a dynamic new frontier in medical research and are vital to studying rare diseases. The COVAD study demonstrates the potential of online platforms for conducting large-scale, patient-focused research and underscores the importance of integrating patient perspective into clinical care. Care of patients is our central motivation, and it is essential to recognize their voices as equal stakeholders and valued partners in the study of the conditions that affect them.

Indicators of Sovereign Risk of South Africa’s International Monetary Fund Loan: The Nexus Between Political Risks and Economic Growth

Upon the approval of the 70 billion International Monetary Fund (IMF) loan for South Africa, concerns have emerged over the affordability of this loan and its impact on the economy and sovereignty of the country. South Africa’s ability to pay its IMF loan is assured because its track record of loan repayment is good, considering that the loan is repayable in five years at an interest rate of 1.1%. This study explores political and economic indicators of sovereign risk of South Africa’s IMF loan taken in 2020. The tenets of sovereign risk are being explored in a South African context. The significance of this study lies in understanding sovereign risk from a South African context and forecasting the country’s capacity and sustainability of servicing its IMF debt. This study presents a special and underexplored case of sovereign risk mainly due to 2020 being the first time South Africa has taken an IMF loan since the inception of a democracy in 1994. This qualitative study heavily relies on secondary literature, theories, and predictive forecasting models and is aided by descriptive statistics to reach its conclusion. Findings from the Council of Foreign Relations used the CFR Sovereign risk tracker designed to gauge the susceptibility of emerging economy to default on external debt.

Measuring Financial Inclusion in the MENA Region: Comparative Analysis

Purpose: The purpose of this paper is to develop a new multidimensional financial inclusion index to measure the financial inclusion level for each of the 13 selected countries of the Middle East and North Africa region for the period 2004-2020. In addition, the comparative analysis approach encompasses the evolvement of financial inclusion for each country in the time period studied. Design/methodology/approach: This study builds onto Sarma's (2012) approach for measuring financial inclusion by forming a new and improved model including the depth dimension and new variables. The computed values are based on data on financial inclusion extracted from the World Bank and the International Monetary Fund, the Financial Access Survey database. Findings: The values of the new financial inclusion index reveal the inadequate efforts made by these countries to enhance financial inclusion as a way to improve the economic /income growth in the region. Research limitations/implications: This study has two limitations. The unavailability of data for some financial indicators made it inevitable to be included in the study, such as the digital banking. Such data is considered crucial for future studies on financial inclusion indexes. The other limitation is that some countries in the Middle East and North Africa region were excluded from this research due to the lack of data on some of the variables included in constructing and measuring the new index. Despite these limitation, policy-makers and central banks can benefit from this study to enhance financial inclusion practices in pursuit of economic /income growth. Originality/value: This study attempts to develop a new multidimensional index to measuring financial inclusion by including a new dimension/variables and analyzing the values.

Zapadni krediti Jugoslaviji 1980. godine: Na putu bez povratka

The importance of external debt emerged as a critical component of Yugoslavia’s crisis in the late 1970s and early 1980s.The article comprehensively examines the underlying factors contributing to the accumulation of significant debt, analyzes the government’s reactive measures to address the financial situation, and looks at the state-level strategic initiatives undertaken by the Socialist Federal Republic of Yugoslavia (SFRY) in 1980. These attempts sought to protect external liquidity by obtaining extra loans from prominent Western nations, engaging with the International Monetary Fund (IMF), and negotiating for financial aid from Kuwait.

BANK-SPECIFIC, ECONOMIC AND LEGAL DETERMINANTS OF PROFITABILITY IN THE REPUBLIC OF NORTH MACEDONIA

Background: Bank profitability is more than just a financial indicator; it is a reflection of the health and vitality of the banking sector and the economy as a whole. Profitable banks help to maintain financial stability by increasing resilience, facilitating capital formation and intermediation, promoting innovation and adaptability, and instilling confidence and trust. Hence, profitability is critical in the banking sector since it directly influences policymakers, regulators, and bank management. Therefore, the study will estimate the influence of specific bank and economic-legal determinants on return on assets in the Republic of North Macedonia. Thus, the study aims to estimate the influence of specific bank and economic-legal determinants on return on assets in the Republic of Northern Macedonia. Methods: The study employs the methodology of the Vector Error Correction Model (VECM) and covers quarterly data from 2007 to 2022. To conduct the empirical analysis required to identify and assess the factors of bank profitability, quantitative data were gathered primarily from the National Bank of the Republic of North Macedonia, the International Monetary Fund (IMF), and the World Bank. Return on Assets was used as a dependent variable. The set of factors is composed into two groups: the first includes bank-specific (controlled) factors such as the sectors’ size, credit risk, capital adequacy, liquidity, income diversification, efficiency of operations, and non-performing loans. The second group includes macroeconomic (uncontrolled) factors such as economic growth, inflation, and interest rates. Results and Conclusions: Results reveal that the size of the banking sector, the risk of the credit, liquidity, income diversification and non-performing loans have a meaningful but negative influence on the response variable. However, capital adequacy, operational efficiency, GDP and interest rate have an important positive impact. Hence, based on the empirical analyses, to boost profitability, the Macedonian banking system should prioritise asset management as a size indication, raising the non-income ratio to diversify revenue, reducing credit risk and non-performing loans, and maintaining a good liquidity ratio.Furthermore, there is clear evidence that second-level banks should extend beyond national borders. Better loan portfolio management, greater technology with database processing and communication improvements, and expanded technology with database processing and communication improvements can strengthen the ability to deal with the next crisis. Additionally, banks should increase non-interest revenue by employing it as a risk outlet in banking and distributing it across many income-generating enterprises, enhancing profitability. These findings offer insights for bank executives and regulators interested in increasing bank profitability and stability.

Impact of financial markets on clean energy investment: A comparative analysis of the United States and Nigeria

This comparative analysis explores the impact of financial markets on clean energy investment in two distinct contexts: the United States and Nigeria. As the world increasingly seeks sustainable energy solutions to combat climate change, understanding the dynamics of financial markets and their influence on clean energy investment becomes crucial. Through a comparative lens, this study examines the differences and similarities in the financial landscapes of these two countries and evaluates how these factors shape investment patterns in clean energy. The United States represents a developed economy with well-established financial markets and robust investment infrastructure, while Nigeria serves as a case study of an emerging market grappling with developmental challenges and evolving financial systems. By analyzing data on investment flows, regulatory frameworks, and market conditions, this study aims to provide insights into the role of financial markets in driving or hindering clean energy investment. Factors such as access to capital, government policies, risk perception, and investor preferences will be examined to understand their impact on investment decisions in the clean energy sector. Additionally, the study will explore the role of international financing mechanisms and the influence of global trends on clean energy investment in both countries. By comparing the experiences of the United States and Nigeria, this research seeks to identify best practices and lessons learned that can inform policies aimed at promoting clean energy investment in diverse economic contexts. Ultimately, the findings of this study aim to contribute to the development of strategies that enhance the role of financial markets in accelerating the transition towards a sustainable energy future, while addressing the unique challenges and opportunities faced by different countries in this endeavor.

Adaptation of the technology readiness levels for impact assessment in implementation sciences: The TRL-IS checklist

BackgroundIntervention development is a critical process in implementation research. There are key stages involved in the process to design, pilot, demonstrate and release a technology or an intervention. The Technology Readiness Level (TRL) is a globally accepted instrument for assessing the maturity of research development. However, the original levels do not fit all, and some adjustments are required for its applicability in implementation sciences. AimsThis study aimed to gather the prior knowledge base on TRL in public and population health research; to develop a standard definition of readiness, and to adapt and validate the TRL to an implementation science context (TRL-IS). Materials and methodsA Mixed methods approach has been followed in this study. A scoping review using the PRISMA extension (PRISMA-ScR) informed a nominal expert panel for developing a standard definition of readiness and to modify the TRL following an ontoterminology approach. Then the maturity of six practical case study examples were rated by ten researchers using the modified TRL to estimate inter-rater reliability, and a group of experts provided final content and face validity and feasibility.This mixed methods study included 1) a scoping review to examine the current literature and develop a knowledge base, identify knowledge gaps and to clarify concepts; 2) the development of a standard definition of ‘Readiness’ and related terms; and 3) adaptation of the TRL to implementation science and development of a checklist to rate the maturity of applications.A standard definition of readiness and related terms was produced by the core team, and an international nominal group (n = 30) was conducted to discuss and validate the definition and terms, and the location of ‘Readiness’ in the initiation and early development phases of implementation.Following feedback from the nominal group, the development of the TRL-IS was finalised and a TRL-IS rating checklist was developed to rate the maturity of applications. The TRL-IS checklist was tested using six cases based on real world studies on implementation research.The inter-rater reliability of the TRL-IS was evaluated by ten raters and finally six raters evaluated the content and face validity, and feasibility, of the TRL-IS checklist using the System Usability Scale (SUS). ResultsFew papers (n = 11) utilised the TRL to evaluate the readiness of readiness of health and social science implementation research. The main changes in the adaption of the TRL-IS included the removal of laboratory testing, limiting the use of “operational” environment and a clearer distinction between level 6 (pilot in a relevant environment) and 7 (demonstration in the real world prior to release). The adapted version was considered relevant by the expert panel. The TRL-IS checklist showed evidence of good inter-rater reliability (ICC = 0.90 with 95 % confident interval = 0.74–0.98, p < .001) and provides a consistent metric. ConclusionsIn spite of recommendations made by national and international research funding agencies, few health and social science implementation studies include the TRL as part of their evaluation protocol. The TRL-IS offers a high degree of conceptual clarity between scientific maturity phases or readiness levels, and good reliability among raters of varying experience. This study highlights that adoption of the TRL-IS framework in implementation sciences will bolster the scientific robustness and comparability of research maturity in this domain.

Navigating the complexities of GCC real state markets: An analysis of interlinkages amidst shocks and oil effects

The study investigates the interconnectedness of GCC real estate markets using wavelet coherence analysis of daily data from 2013 to 2023 and analyzes the impact of various external shocks (political, economic, regulatory, and pandemic) and oil dependence on these dynamics. Despite shared cultural ties and energy intensity, findings reveal primarily weak to moderate linkages, with increased coherence observed during significant events. These linkages exhibit temporal variability, characterized by short-term spikes, loose medium-term correlations, and evolving long-term relationships. Isolating the effect of oil prices yielded limited impact, suggesting the influence of country-specific factors. This research offers valuable insights for policymakers, investors, and stakeholders, aiding informed decision-making during sensitive periods and fostering a deeper understanding of international finance and investments.

The impact of economic globalization on income inequality in middle-income countries in Asia: An empirical analysis from 2018 to 2021

This study investigates the relationship between economic globalization and income inequality in Asia during the period from 2018 to 2021. The research aims to contribute to the academic and policy debates on the impact of globalization on income inequality and to identify effective policy measures that can help mitigate the negative effects of globalization on income distribution in Asian countries. In this study, the relationship between income inequality and economic globalization is analyzed using the Random Effects Model (REM) and Generalized Least Squares (GLS) estimation to address the issues of auto-correlated errors and heteroscedasticity in the selected model. The study utilizes secondary data from the World Bank about 28 middle-income countries in Asia, spanning the period from 2018 to 2021, the International Monetary Fund, and the United Nations Development Program. The results of the study indicate that economic globalization is positively correlated with income inequality. The findings of this study provide insights and recommendations that can help policymakers, academics, and other stakeholders better understand the complex relationship between economic globalization and income inequality and identify strategies for promoting more equitable economic growth and development in Asia.

Towards complete development finance data: Quantifying China's international education co‐operation and presence in the Global South

AbstractMotivationChina does not participate in the development co‐operation reporting mechanism of the Organisation for Economic Co‐operation and Development's (OECD) development co‐operation reporting mechanism, nor does it voluntarily publish overseas development finance data. Despite recent quantitative research on China's foreign aid to other sectors, such as health, no precedent exists for quantifying China's international education co‐operation (IEC).PurposeThis article will use AidData's Chinese Official Finance Dataset (AidData 2.0) to estimate the IEC using the OECD's internationally standardized definitions of development finance and frameworks for classifying IEC projects.Approach and methodsWe thoroughly examined all types of IEC projects, including official finance projects other than those that meet the definition of official development assistance (ODA). In our comparative analysis of educational aid between China and traditional donors, we focused on ODA‐like projects and examined the number of projects and funding amounts to determine China's IEC priorities.FindingsThe result shows that, between 2000 and 2017, China's IEC commitments totalled 1,524 education‐related international projects, representing 12% of the total international finance project portfolio, most of which are in Africa. Compared to the OECD framework, China prioritized higher education (n = 784, 51%) and education facilities and training (n = 244, 16%). An estimate of cumulative funding between 2000 to 2017 showed that China was the 10th largest donor of education aid to African countries, behind France, the World Bank, Germany, the United States, the EU, the United Kingdom, Canada, Japan, and the Netherlands.Policy implicationsThe findings of this study help our understanding of China's IEC finance. With China's involvement in education development aid growing in recent years and donors looking for solutions to developing countries' debt crises, this will allow for more effective collaboration, co‐ordination, and resource mobilization for both donor and recipient countries.

Health engagement in national climate commitments of small island developing states: A content analysis of Caribbean nationally determined contributions

ObjectiveTo investigate how health is incorporated into the NDCs of Caribbean SIDS and their financing challenges. MethodsThe study analysed the NDCs of sixteen Caribbean SIDS using content analysis to investigate their level of engagement with health. ResultsCaribbean SIDS have a high level of reference with health in their NDCs relative to other developing countries which is expected to increase as they update them. All sixteen countries included health in their NDCs, mostly with regard to adaptation to be achieved by 2025/2030. Five countries provided targets in health aimed at increasing climate resilience. This may be explained by the region's poor health profile, high exposure to climate change and disasters, inadequate health infrastructure and resources and dependence on external finance. There was hardly any information on how countries intend to finance their health goals. ConclusionInclusion of health in Caribbean SIDS NDCs could increase obligation to climate action at domestic and regional levels and attract international climate finance. The Caribbean should seek out funds that make finance available to tackle health-related risks from climate change. It is imperative that Caribbean SIDS compute and state their climate finance needs in health if they are to attract international finance and raise donor and investor confidence. Caribbean SIDS have the opportunity to advocate for and be an example for the integration of health into climate change policy and politics to encourage global cooperation, boost countries’ climate change aspirations and ramp up international climate finance.

Influence of globalization factors on human development

The article aims to study the impact of globalization on the leading indicators of human development. The essence of «globalization» is clarified, and its content is defined. Sustainable development is crucial for overcoming the consequences of the war and rebuilding Ukraine's regions. It offers a comprehensive approach considering infrastructure, economy, society, and the environment. From an economic point of view, it includes not only economic recovery but also the wise use of resources, ensuring stability and creating new opportunities. To support the population affected by the war, it is essential to consider the social elements of sustainable development. From an environmental perspective, preserving the region's natural resources and ecosystems is necessary. In addition, support and international cooperation are vital to achieving sustainable development in Ukraine. The influence of globalization factors on human development is studied. Various aspects of globalization, such as trade, investment, migration, and technological progress, and their impact on human development indicators, such as income per capita, life expectancy, education level, and access to health care, are analyzed. These elements have been proven to highlight how important it is to adhere to the principles of sustainable development when rebuilding war-affected areas. In the process of Ukraine's recovery, implementing the principles of sustainable development will create a sustainable basis for economic growth and development, improve the population's quality of life, and reduce the risks of recovery. The study is based on data from various sources, including the World Bank, the United Nations, and the International Monetary Fund. It is proved that the successful implementation of the concept of sustainable development in Ukraine requires support and cooperation with other countries. Particular attention should be paid to sustainable development programs directly funded and supported by international organizations and partners, which is an essential element of support for the recovery of war-affected regions of Ukraine and emphasizes the importance of researching the impact of globalization on human development indicators. Keywords: globalization, human development, migration, life expectancy, level of education, health care.

Financial inclusion, financial development and financial stability in MENA

PurposeThe study aims to find out the impact of financial inclusion and financial development on financial stability using panel data from eight countries in the Middle East and North Africa (MENA).Design/methodology/approachTo achieve the aim of the study, the researcher prepared two indicators of financial inclusion and governance to find out the impact of financial development on the relationship between financial inclusion and financial stability. Data on financial inclusion was obtained from the International Monetary Fund, data on financial development and financial stability were obtained from the World Bank.FindingsThe results of the fixed and random effect methods show that financial inclusion has a significant positive effect on financial stability. Additionally, financial development represents a moderating variable in the significant positive effect on the relationship between financial inclusion and stability in the MENA countries.Research limitations/implicationsThe current study suffers from some limitations that researchers must be aware of in future research. First, there is an inability to determine qualitative aspects such as time and cost when designing a composite indicator of financial inclusion. Second, due to limited data, we used only eight countries from the MENA. It is suggested to expand the sample to include other countries.Originality/valueThis paper contributes to the related literature between financial inclusion and financial stability by confirming or denying the results of previous studies. Also, to the best of the author’s knowledge, this paper is the only one that explains the role of financial development in the relationship between financial inclusion and stability in MENA countries, using a composite index to calculate financial inclusion. Finally, the study seeks to focus the attention of the government and policymakers to build a system of financial inclusion that leads to improving financial stability.

The Influence of the Banking Sector on Economic Growth and Commodity Prices: A Panel Data Analysis of Spain, France, and Romania

This study aims to investigate the impact of the banking sector on economic growth and commodity prices. Through panel data analysis, the research explores the relationship between the banking sector and economic growth in Spain, France, and Romania from 2000 to 2020. The findings reveal a positive correlation between the strength of the banking sector and economic growth across these nations, underscoring its pivotal role in fostering economic expansion and subsequently improving commodity prices. Additionally, this study evaluates various regulatory measures crucial ensuring the banking sector’s sustainability and preventing financial crises, including credit risk management, lending policies, liquidity constraints, and international financing and investment strategies. By analyzing the interplay between regulatory measures and banking sector performance, incorporating variables such as non-performing loans, household debt, liquid liabilities, government consumption expenditure, foreign investments, and trade openness, this research provides policymakers with valuable insights to formulate effective strategies for promoting economic stability and ensuring the sustainability and growth of the banking sector.

Globalization and its Effect on the National Economy: The Albanian Case

Globalization is a widely discussed phenomenon that involves the free flow of goods, services, capital, and people across the world. It is mainly focused on economic and cultural aspects, among others. Globalization can be considered as a trend towards increasing of the interdependence and integration among the countries and regions of the globe. Globalization affects us all and leads a radical change in the human’s lives all over the planet, in the relations between them as well as in culture and other aspects related to institutions. So globalization increases incomes but simultaneously increases social inequalities, leaving some countries and groups of people behind. To put it simply, globalization can rapidly enrich a small group of capable individuals while impoverishing the larger population. This ultimately leads to a decline in living standards across the world. Globalization has both positive and negative sides, globalization also produces winners and losers, both between countries and within them, so there are losses and the lost, but the supporters of globalization do not accept this fact. In conditions when the economies are converging and that this phenomenon is generally acceptable, national governments should look forward to pay attention to the growth of domestic capital the pursuit of international financial reforms with the aim of making it possible to find solutions to help losses and the lost. National governments should have social protection policies on the top of their agenda as well as programs that will help as much as possible in the correcting of the unequal distribution, to help different groups in need. Labor migration is a negative phenomenon that caused by the globalization and damages the economy of small countries in transition as people capable of working move to developed countries for a better life than what they leave in their country of origin. The main indicators of the globalization of the national economy are producing for world markets, being part of the global financial markets, as well as foreign direct investments. Globalization is inevitable, under these conditions the duty of the national governments is to face of the pressure that leads to the subordination of the local economy to the global one. Globalization facilitates the connection of different parts of the world, reducing borders and allowing national economies to cater to global tastes. The decreased transportation costs also contribute to the intermingling of the global and local aspects, ultimately leading to the unification of regions. About globalism, there are currents for and against, while the opponents of globalism as well as those who call globalization the cause of poverty and inequality have not drawn up any alternative model for economic growth and development throughout the globe. Small countries like Albania require large international corporations or companies to invest in them to achieve comprehensive economic development, reduce unemployment, and increase well-being. Financial institutions like the World Bank and the International Monetary Fund also play a crucial role in this process. Received: 25 December 2023 / Accepted: 25 February 2024 / Published: 23 April 2024

Does digitalisation help achieve (selected) socio‐economic SDGs? Evidence from emerging economies

AbstractThis study examines the impact of digitalisation on achieving the selected socio‐economic Sustainable Development Goals (SDGs) of [1] no poverty, [8] economic growth and [10] reducing inequality—set out in 2015 by the United Nations (UN) General Assembly—in emerging economies. Employing the least square estimation technique on panel data of 18 emerging economies (listed by the International Monetary Fund) for the period, 2002–2020, the study finds that digitalisation significantly improves growth and reduces poverty and inequality, helping emerging economies achieve the (selected socio‐economic) UN SDGs. Moreover, the study offers important policy recommendations to achieve the respective UN SDGs.

Effects of Globalization on Third World Development: The Nigerian Experience

The study examines globalization and its effects on third world development with emphasis on the Nigerian state. The growing global economy was fastened mostly by information technology, international trade, culture, political, and social activities across the globe. It has no doubt created a global dual phenomenon where third world countries continued to experience economic and political development at the expense of western world. Thus, third world countries are fully incorporated into the global capitalist economy but the accrued benefits are not evenly distributed. Globalization is another form of colonization of third world countries achieved through the use of exploitative instruments like World Trade Organization (WTO), International Monetary Fund (IMF), World Bank, multinational corporations and other international financial institutions in order to capture the world in the name of globalization. These aforementioned instruments in the name of globalization are diversionary and plausible because there is no country in the world that is in the process of development as a result of globalization or that has developed as a product of globalization. The pro-globalizers deceive third world countries, that globalization is a path to development in which all third world countries are supposed to follow in order to become developed. Nigeria, in the current wind of globalization remains a clientele economy in the competitive global market. The study adopts documentary research methods and relied majorly on secondary data and modernisation theory was adopted as the theoretical foundation of the study. The study revealed that underdevelopment in Nigeria resulted from the negative effects of globalization are to explore the political impacts of globalization and imposition of foreign rule in Nigeria, to explore the economic impacts of globalization and unequal terms of trade in Nigeria and to identify the role of Nigeria as giant of Africa in global markets. The study, however suggest economic diversification and exportable capacity of the third world economy in the global market, regulation of international capitalist structure through applicability of market friendly policies devoid of stringent market policies placed on third world countries by the developed countries and Improving bank regulations of the third world countries nations banks are well regulated to their boost economic growth. The study concludes that there is interconnectedness between globalization and development in Nigeria, which in turn increases the rate of unemployment of masses and hinders political and economic development in Nigeria.

Analisis pengaruh perang dagang AS-China bagi kondisi ekonomi ASEAN-4 periode 2017-2020

International trade is the exchange of goods and services between citizens of two or more countries by mutual agreement. However, the increasingly intensive trade can trigger conflicts during trade, which are called trade wars. The current trade war between the United States and China is playing with each other's trade tariffs. This research analyzed the influence of the US-China Trade Balance, ASEAN balance of payments, and imports related to ASEAN-4 economic conditions. This observation selects secondary data from the World Bank, International Monetary Fund (IMF), and CEIC Data. The data used in this research is panel data on 4 ASEAN countries, including Indonesia, Malaysia, Vietnam, and Thailand, in 2017-2020. Meanwhile, the analysis technique uses the Common Effect Model (CEM) approach. The final calculation results show that the US-China trade balance and import variables influenced ASEAN-4 economic conditions in 2017-2020.