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The Impact of Globalisation on Namibia

The Impact of Globalisation on Namibia. A presentation by Robin Sherbourne of the Institute for Public Policy Research to VSO 23 May 2003. 3 Key Questions Plus. What is globalisation? Why is it important? How does it impact on Namibia? What we can and can’t influence The Big Debates.

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The Impact of Globalisation on Namibia

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  1. The Impact of Globalisation on Namibia A presentation by Robin Sherbourne of the Institute for Public Policy Research to VSO 23 May 2003

  2. 3 Key Questions Plus • What is globalisation? • Why is it important? • How does it impact on Namibia? • What we can and can’t influence • The Big Debates

  3. What Is Globalisation? Increasing (economic) interaction between countries including: • Trade • Investment • Labour • (Culture) • (Values) • (Diseases) • (Terrorism)

  4. Why Is It Important? • How do poor countries become richer? • Economic theory • Economic evidence

  5. Economic Theory • The “Catch Up Effect” – poorer countries have potential to grow faster • Theory of Comparative Advantage – specialise in what you are good at and trade the rest

  6. Economic Evidence • Fastest growing economies have started poorer • Rich economies have not grown fast • Poor economies in EU converge • High growth economies have been more highly integrated • Recessions exacerbated by trade protection • Rapid growth in small countries needs world economy

  7. Impact on Namibia? • Meat and livestock (~3%) • Diamonds and minerals (~13%) • Fish products (~6%) • Beer (~1%) • Tourism (~2%) • Imagine these industries without international trade, investment and labour mobility

  8. Positive Impact on Namibia? • Imagine “North Korean” style economic policies • Imagine a large city in Europe • Plus no big inefficient industries grown under protection

  9. Negative Impact on Namibia? • National sovereignty • Economic autarky vs integration • Regional integration vs global integration • Brain drain • Exploitation of resources • Labour standards • “Race to the bottom” • Inequality

  10. What Can’t We Influence? • Monetary policy (interest rates and exchanges rate) determined by CMA • Trade policy (tariffs and non-tariff barriers) determined by SACU and WTO

  11. What Can We Influence? • Domestic taxes • Fiscal policy • Education and training • Health • Labour laws • Social security • Business regulations

  12. The Big Debates • Too much globalisation or too little? • Freeing up international labour market would bring much greater benefits • Environmental impact of wealthier planet • Political consequences of wealthier planet • Industrial development and infant industry • Rich country agricultural protection • Intellectual property rights

  13. Final Thought Is Namibia helping to lead the international debate on globalisation?

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