Document1 abc abc afweloiepw efjeifiwj ejeowp djopew c 3wpj eodwj e not the dominant exports and levels of human capital are fairly high.
Because the supply of low-skilled workers in most African countries is very large, wages are more likely to increase for skilled workers, especially in the light of rising demand for skilled workers due to technological advances.
Four lessons on how to harness the opportunities from globalization:
• First, African countries nmmunication costs, liberalized markets for goods, services and capital and faster technical change.
Because world trade in manufacturing goods increased sharply in the past decade, while trade in raw materials more or less stagnated, diversification into manufactured exports is more likely to create growth and jobs in Africa. Despite some shift towards manufactures in both exports and FDI, Africa will benefit from globalization only if its manufacturing sector becomes more competitive.
Globalization, as well as poverty reductiworld? As documented in this paper, the average income per capita for the group of more financially open (developing) economies does grow at a more favorable rate than that of the group of less financially open economies. However, whether this actually reflects a causal relationship and whether this correlation is robust to controlling for other factors remain unresolved questions. The literature on this subject, voluminous as it is, does not present a conclusive picture. A few papers find a positive effect of financial integration on growth. However, the majority find no effect or at best a mixed effect. Thus, an objective reading of the vast research