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Abstract

Globalization, the accelerated economic integration among nations, clearly has brought benefits in terms of worldwide economic growth. However, these benefits have not been evenly distributed, and income disparities between rich and poor countries, and even within countries, have increased. This is most pronounced in sub-Saharan Africa. Globalization was supposed to provide gains for all, or at least the gains were supposed to outweigh the losses. Despite adherence to market liberalization and the rapid pace of globalization, during the past three decades sub-Saharan Africa has continued to be marginalized in the world economic system. At the same time, however, many other parts of the world have continued an extraordinary economic growth rate. This raises the serious question as to whether the promise of shared prosperity will ever be realized?

There are a number of important questions still to be addressed: Will sub-Saharan Africa continue to be marginalized, or can it find ways to integrate more successfully into the global economy? How can the negative effects of globalization be minimized? Will the industrialized countries open their markets to competition from the region? Will the region find ways better to cooperate and integrate their economies? Will the countries begin to invest in an often-overlooked resource: its own people, particularly its women?

Finally, a point not discussed until now needs admitting: Do the rich countries really care? Perhaps this question must be posed in addition to the ones listed above. And until it is, the answer to the question this paper tries to answer—"Will Africa partake of global prosperity?"—remains doubtful.

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