Globalization: Blessing or Curse? SSK10 SP1/2019 Annotated Bib

This annotated bibliography examines the complex impacts of globalization on the world economy, addressing whether it is a blessing or a curse. The assignment includes four articles, each with a full reference, summary, direct quote, and critical annotation. The articles explore various aspects ...Read More

Assignment 2
Annotated Bibliography
SSK10 – SP1/ 2019
Date: DD/MM/YY
Research topic
The world is becoming a Global Marketplace. People are exchanging knowledge, ideas,
trades and capital around the world. Is Globalisation considered a blessing or a curse
for the world economy?
Name ID 1

Article 1
Full Reference list entry for Article 1
Shopina, I & Oliinyk, O 2017, ‘Globalization and its negative impact on the global economy’, Baltic
Journal of Economic Studies Vol. 3, No. 5, pp. 457-461
Summary of Article 1 - (200 words)
As a matter of fact, global changes that happen between the economic relations that vary from
communities to small companies and consumers are both positive, as well as negative. The main aim
of the article is to project causes and to state the effects of globalization on the economy as a whole.
It is the theoretical and methodological basis that is linked to scientific research and under that theme
the issues of globalization establishment and its influence on particular areas of economic life. In this
article, the scientific research is linked to solving of the issue that is relevant, the disclosure of the
main matter and the process generalization of the globalization negative impact on the overall world
economy. A critical analysis of contemporary scholars has projected that the process of globalization
of the world economy is one of the prime features of the current time economy. As per the article, it
can be observed that the world economy in the time span of 2000-107 strikes the notion that there
will be an increment in the economic issues and downfall of the regions in the world.
Direct quote: Original text copied from Article 1, for possible use in Assignment 3.
The peculiarity of the development of the world economy of this period is that by 2014 globalization
processes have greatly provided intensification of international trade, a large impact on the world
economy of the World Bank and the IMF (Shopina & Oliinyk 2017, pp. 459)
Annotation/ Critique of Article 1 - (200 words):
• This article is written by Iryna Shopina, Olena Oliinyk & Valerii Finaheiev and stresses upon
the processes of globalization that became widespread owing to the international division of labor
and production that resulted in the competitive advantage to the economies that are developed. This
led to the increment in the gap between the development level and the developed by that is linked to
the developing economies.
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• The article is well drafted taking into consideration the references, as well as information from
the major development trends of the economy of the world between 2000-2017
• The article provides various reasons for the negative influence of the process of globalization on
the world economy.
• The critical analysis of different scholars have been provided in the article and projects that the
globalization of the economic system of the world is the chief feature in the current scenario and
contains a polyyector influence on the development.
• The trend analysis of the economy of the world indicates that the period 2000-2017 denotes a
period of increment of the economic issues and a fall in the economic growth of all regions.
• The author has been effective in highlighting the causes, as well as the impact of the negative
influence of the globalization process on the overall economy. Further, it is effectively highlighted
that the scenario needs an immediate resolution.
Implications for the Final Essay (Assignment 3) - (50 words)
The author provides a major implication towards the end of the article that is the world economy
requires a comprehensive re-assessment of the current system of economic policy. The research
indicates that the stress should be on enhancement of the method for addressing crisis happening and
processes within the global area.
Name ID 3

Article 2
Full Reference list entry for Article 2
Samimi P & Jenatabadi HS 2014, ‘Globalization and Economic Growth: Empirical Evidence on the
Role of Complementarities’, Plos One, vol. 9, no. 4, pp. 1-7
Summary of Article 2 - (200 words)
Globalization is a process that has its own pros and cons. The article reflects upon the phenomenon
of globalization and how it impacts different impacts of life. The concept of economic globalization
is touched upon in the article that deals in capital flows, tariff reduction, and flow of goods. The
study has been done to trace the impact of economic globalization on the process of economic
growth in different countries. Moreover, going by the study, it can be commented that the study
evaluated the impact of complementary policies that relates to the growth vision of globalization.
Further, in the article investigation has been done related to the growth of globalization in tune to the
income level of the countries. The article indicates that the mechanism of globalization can be a
success when the countries have the proper level of income. Economic globalization is directly
linked to the growth but is possible when the countries have the proper framework. The study
reflects that public policies structured to integrate might not only be optimal for the process of
economic growth. Economic globalization might not only enhance economic growth but even lead to
reforms of complementary types.
Direct quote:
As per Samimi & Jenatabadi (2014) it is strongly disagreed with the argument that international
financial integration is a major engine of economic development. This is because capital is not an
important factor to increase economic development and the large flows of capital from rich to poor
countries have never occurred
Annotation/ Critique of Article 2 - (200 words):
• As per the author, there is a strong positive impact of globalization in terms of growth. The author
stresses domestic resource allocation, technology diffusion, and enhancement in productivity. The
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author is challenged by others a member as they projected that globalization has a negative end too
that bring political instability.
• Going by the review of the empirical literature it can be commented that the influence of
economic globalization on economic growth is impacted by sample, techniques of econometric,
observations and other relevant impacts. It is stated by the author in the study that the majority of the
literature in the area of globalization throw light on the influence of trade.
• Further, another important observation from the article is that there is a strong requirement for
skilled workers when it comes to the implementation of new technologies. As per the study, it is
affirmed that the increment in the number of educated workers happens due to progress in
globalization.
• The article clarifies that when the countries comprise of the higher level of human capital then the
technologies can be implemented at a faster pace. The presence of a higher level of human capital
together with skills ascertains whether technology is properly fitted into the organization.
Implications for the Final Essay - (50 words)
In the end, the article clearly emphasizes that the economies must have the proper resources so that it
can be benefitted by the process of globalization. Some countries have been able to get a glimpse of
the pros of globalization while some cons. Economic growth cannot happen by itself. It needs to be
supported by complementary reforms.
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Article 3
Full Reference list entry for Article 3
Hamdi, F.M 2013, ‘The Impact of Globalization in the Developing Countries’, Developing Country
Studies, vol. 3, no. 11, pp. 142-144
Summary of Article 3 - (200 words)
Globalization is steering the economies to a higher level and it can be viewed that globalization has
both pros and cons. The article clearly emphasizes that globalization has created immense
opportunities for developing countries. The article highlights the area that has been developed by
dint of globalization such as transfer of technology, high level of opportunities to developed
countries market, enhanced productivity, etc.
But, the article has even struck the notion that all impacts are not positive. There are various
challenges that have cropped up owing to the mechanism of globalization such as instability in
markets, the increment of inequity across and within nations. The paper further discusses both the
benefits and disadvantages of the globalization process and specifically in developing countries. The
three vital fields are studied in the article that is the economic effect, health system, and culture
impact. The article deals in four paragraphs where each paragraph projects an ultimate view. The
initial paragraph the advantages of globalization are discussed. The second paragraph deals in the
impact of globalization on health, the third being the pros and cons of globalization and the final
being the conclusion.
Direct quote:
''The history of globalization goes back to the second half of the twentieth century, the development
of transport and communication technology led to situation where national borders appeared to be
too limiting for economic activity'' (Hamdi, 2013, pp. 143).
Name ID 6

Annotation/ Critique of Article 3 - (200 words):
The article written by Hamdi has clearly emphasized the importance of globalization, the process and
the impact that is being seen in the developing countries. The best part of the discussion lies in the
fact that both pros and cons have been highlighted in the article thereby providing a balanced view.
• The paper has evaluated the benefits and drawbacks of globalization based on the three important
pillars that are economic and trade process, education and culture effects. Hence, in lieu of it, it can
be commented that the points cover the three main aspects that strengthen the economy. Hence, the
selection of the matter is apt and deals perfectly.
• The author has further used examples from day to basis so as to provide a great source of
information. this makes the journal exciting and deals with the current scenario. The author has
effectively highlighted the important tools of globalization and the manner they have shaped the
entire life of the people.
• The author did not fail to include the harmful impact of globalization and that in itself is a major
feat. The author has referenced to all facts with utmost precision and hence, the journal can benefit
innumerable people.
Implications for the Final Essay - (50 words)
The author has used a holistic approach and this is the main reason why this article comes up to the
expectation. It has covered the developing countries and the economies have benefitted through the
impact of globalization. However, the end of the article emphasizes that globalization will bring a
golden age for the entire business community.
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Article 4
Full Reference list entry for Article 4
Noruzi, M.R 2011, ‘Globalization and Challenges; What are the globalization's contemporary
issues?’, International Journal of Humanities and Social Science, vol. 1, no. 6, pp. 2011-2018
Summary of Article 4 - (200 words)
The article projects globalization as a catalyst when it comes to the growth of social system together
with an increment in the intersocial links. The article provides a glimpse that the process of
globalization is mainly interlinking the past, present and the future. It can be said to be a short bridge
between the past and the future course of action. The title of the article completely adheres and
justifies the matter presently. Further, the composition of the matter sheds light on the systemic
scenario of the process of globalization. Political, economic, social, historical processes are evaluated
and the collaborated impacts are taken into consideration. The initial part of the article mainly deals
with the global reason for the contemporary crisis and the ways to reduce the problems. it is
imperative that new inventions of globalization reduce the risks in an effective manner on a global
perspective so that capital can be attracted and influxes into the economy while the second part of the
article is mainly linked to the global scene of the world. The efforts of globalization concerning the
present and the future are provided in an elaborative manner.
Direct quote:
Globalization typically refers to the process by which different economies and societies become
more closely integrated, and concurrent with increasing worldwide globalization, there has been
much research into its consequences (Noruzi, 2011, pp. 2012 ).
Annotation/ Critique of Article 4 - (200 words):
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The author has highlighted the process of globalization together with the challenges that are faced.
However, the major emphasis is provided on the process of challenges and issue. This makes it more
concentrated on the drawbacks while the author fails to provide a good justification for the benefits.
• Another major observation noted in the article is that various streams and looks on globalization
have been adequately highlighted. The author evaluates economic globalization and further
scrutinizes how it can be regulated.
• The author fails to provide a real justification to the high-level benefits provided by the
mechanism of globalization and this will fail to attract the audience.
• The article is well sourced and the challenges have been dealt with in an effective manner where
the major challenges brought by the globalization mechanism are reflected effectively.
• Different approaches to globalization were highlighted in the article and discussed but fail to
provide clarity in this matter. The details were not specified in this regard and hence the area was left
unexplored.
• The author discussed only a few points and hence, the research in terms of realization of
globalization issue is weak.
Implications for the Final Essay - (50 words)
Globalization has led to a great progression for the community as a whole. However, advancements
in the mechanism of globalization are extended with a high level of issues and challenges. The
author justified the issues and challenges that are rising however, proper knowledge on the benefits
were lacking.
Critical paragraph
Globalization is applicable to different economies and countries because it tends to bring them closer
and integrated. With the advancement in the process of globalization, things have changed for the
betterment. However, the process of globalization is not only laced with positivity but also comprises
of differences. Globalization impact on the global economy has been massive and the same is
highlighted by way of discussion in different articles. Though the benefits from market position to
health to business has been top notch but is seeded with challenges and widespread issues. It needs to
be ensured that the resources are available with the developing economy because globalization
cannot produce a result without the availability of resources. Hence, it is highly imperative that the
economy should be aided with the resources and this is one of the major challenges when it comes to
the point of developing the economy. At the international where the resources are present, the
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improvement has been massive and results are of a top-notch while the ones that are struggling to
have the desired resources are feeling the heat.
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REFERENCES
Shopina, I & Oliinyk, O 2017, ‘Globalization and its negative impact on the global economy’, Baltic
Journal of Economic Studies Vol. 3, No. 5, pp. 457-461
Samimi P & Jenatabadi HS 2014, ‘Globalization and Economic Growth: Empirical Evidence on the
Role of Complementarities’, Plos One, vol. 9, no. 4, pp. 1-7
Hamdi, F.M 2013, ‘The Impact of Globalization in the Developing Countries’, Developing Country
Studies, vol. 3, no. 11, pp. 142-144
Noruzi, M.R 2011, ‘Globalization and Challenges; What are the globalization's contemporary
issues?’, International Journal of Humanities and Social Science, vol. 1, no. 6, pp. 2011
UniSA Harvard
The Word Count – 2050 not containing Abstract, headings and references
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ABSTRACTS
Abstract 1
Abstract. The purpose of the article – to reveal causes and to generalize consequences of the
negative impact of globalization processes on the world economy. Methodology. The theoretical and
methodological basis of scientific research is the work of well-known scientists in the world who
studied issues of globalization development and its influence on separate spheres of economic life,
official statistics of the International Monetary Fund and the World Bank on the dynamics of
economic development, own research results. In order to achieve the validity and reliability of the
research results, the following methods were used: inductive and deductive – for theoretical
conclusions; generalization – in studying the content of works of scientists on the impact of
globalization processes on the world economy; analytical – during the study of economic
consequences of globalization; cause-and-effect – to obtain final conclusions. Results. In this article,
causes of the negative influence of globalization processes on the world economy are disclosed. The
analysis of economic development of countries in the context of the world economy and, in
particular, developed economies, countries of the euro area and developing economies is conducted.
Consequences of the negative impact of globalization processes on the world economy are
generalized. Practical meaning. The results of this study may be useful to rating agencies, the
structure of the World Bank, the Ministry of Ukraine for European and Euro-Atlantic Integration.
Value/originality – the reasons and economic consequences of globalization for the world
community are specified. Further research should be aimed at preventing the occurrence of crisis
phenomena and processes
Abstract 2
This study was carried out to investigate the effect of economic globalization on economic growth in
OIC countries. Furthermore, the study examined the effect of complementary policies on the growth
effect of globalization. It also investigated whether the growth effect of globalization depends on the
income level of countries. Utilizing the generalized method of moments (GMM) estimator within the
framework of a dynamic panel data approach, we provide evidence which suggests that economic
globalization has statistically significant impact on economic growth in OIC countries. The results
indicate that this positive effect is increased in the countries with better-educated workers and well-
developed financial systems. Our finding shows that the effect of economic globalization also
depends on the country’s level of income. High and middle-income countries benefit from
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globalization whereas low-income countries do not gain from it. In fact, the countries should receive
the appropriate income level to be benefited from globalization. Economic globalization not only
directly promotes growth but also indirectly does so via complementary reforms.
Abstract 3
This paper will discuss the benefits and drawbacks from the point of view that globalization made in
the developing countries in the three important fields such as economic and trade processes,
education and health systems and culture effects. It is consists of four paragraphs. In paragraph one,
the benefits and detriment of globalization in the economic and trade processes field will be
discussed. Then, in paragraph two, the impact of globalization on education and health systems in
both sides will be shown. In the paragraph three, the positives and negatives of globalization on
culture will be illustrated. Finally, paragraph four, will deal with conclusion and offer an opinion
Abstract 4
One of the most important factors of developed countries is the indicator of the country's
globalization rate indicator. If a country has good indicator or high globalization indicator it is a
positive point for that country. This paper aims to study some contemporary issue of globalization
and its challenges.
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