INTERNATIONAL REGULATORY AGENCIES POLICIES IN MONITORING DEVELOPING/EMERGING ECONOMIES- A CASE STUDY OF BRAZIL/ GHANA

by

ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University (Adebayo, 2006,, 4).

Signed __________________ Date _________________

ABSTRACT

The study explore the various theories in relation with the globe; economy. It provides view of different scholars and helps in building up the understanding about the realists and liberal approach. Additionally, the study also provides information about various policies of organization such as IMF, World Bank, WTO/GATT, etc. The research then describes the role played by these organizations in enhancing the economy of developing countries. Furthermore, the study analyses Ghana as case for understanding the impact of international organizations and globalization in the development of Ghana's economy.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

Research Background1

Research Aims and Objectives1

Rationale of the Study2

Scope of the Research4

The Realistic Perception of International Organizations5

The Functionalist Perspective7

The Liberal Approach8

Neo-Liberalism14

CHAPTER 2: INTERNATIONAL REGULATORY AGENCIES15

Developing Countries15

IMF17

Operations and Transactions19

World Bank20

Phases of Operation21

GATT/WTO23

Policies of International Regulatory Agencies23

World Bank and Governance Issues:28

CHAPTER 3: GLOBAL ECONOMY31

CHAPTER 3: GLOBAL ECONOMY31

Internationalization32

Technological Revolution38

Deterritorialization39

Liberalization40

International trade and global economy41

Liberalization of the economy42

What has been globalized?43

Difference between the global economy and international economy44

Geopolitics and Global Governance in the Twenty-First Century46

Ghana Experience50

CHAPTER 4: GHANA ECOOMY51

Country Profile: Ghana51

Geographical Overview51

Historical Overview51

Overview of the Ghanaian Economy53

Impact of International Organization on Ghana's Economy56

Conclusion59

REFERENCES62

CHAPTER 1: INTRODUCTION

Research Background

The World Bank, World Trade Organization and IMF have been playing essential role in the management and creation of the modern global economy. Activities and functions performed by them are supported by governments which are economically dominant in the world and corporations which generally in favor of neo-liberal policies and consider free-market as a solution for the debt-based finance and international trade as path that will lead towards reduction of poverty (Dollar, Svensson, 2000, 894).

Collectively, these agencies encourage adjustments of economic structures, market liberalization and privatization in the emerging and developing economies. With the framework of competitive global markets, developing countries are then left with no or very little choice except to abide by the agenda of neo-liberal policies. As a consequence, these developing countries are usually left with disabled debt and delicate and vulnerable economy. In the meantime, multi-national corporations and foreign investors acquire control over a substantial portion of the world's services, knowledge, finances, technology and resources. On one side these corporations and multi-nationals keep on reporting huge profits, whereas on the other side, more than 50,000 people die due to hunger and poverty.

Research Aims and Objectives

The aim of this study is to develop an understanding regarding the role played by the International Regulatory Agencies in developing countries like Brazil and Ghana.

To provide a means for a student to integrate elements of ...