THE GAP BETWEEN GLOBALISATION AND SOCIO-ECONOMIC DEVELOPMENT IN AFRICA

One of the cardinal aims of this paper is to highlight that contemporary reference to globalisation tend to be more of paradigm shift and value change from the old paradigms of imperialism, colonialism, modernization, dependency and the adjoining concepts which derived from Western liberalism. The paper also drew attention to the fact that economic indices for measuring the wealth or otherwise of the developing economies of Africa ignores the activities of the informal sector and that the prescription (deregulation and devaluation) of the Bretton Woods offer no complete remedy to the perceived ailment, hence their recommendation of the third “D” which is democracy. The paper comprises of: Abstract; Introduction; Conceptual Issues in Globalisation; Critical Analysis on Globalisation and Socio-Economic Development in Africa; Globalisation and Dependency Theory; Conclusion and Recommendation. The paper concluded that the relationship between Africa and the Western countries is still largely principal-client based on the “Centre-periphery model”. The paper recommended strong leadership and institutions of governance capable of initiating and implementing appropriate economic programmes through qualitative human capacit