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Acknowledgement:

By the grace of almighty Allah, I am going to finish the graduation from one of the famous
university of the world (Oxford of the East), University of Dhaka, one of the prestigious
departments of Dhaka university, is department of International Relations. It is great honor and
privilege to me to be part in this department. It is filled with veteran academicians whose
prudency and progeny is acclaimed both home and abroad. For fulfilling my 8th semester
research project,
After all, I am able to submit my research paper for the fulfillment of 100 marks research project
by the supervision of my honorable supervisor Ehsanul Haque (professor) department of
International Relations, University of Dhaka. It is inhumane to me if I dont mention his
contribution on preparing this paper. At first I first I would like to express my deep gratitude and
acknowledgement to my supervisor for his relentless monitoring through E- mailing, mobile
calling. If I remember my supervisor spend more than 30 minutes to give me warning about the
progress. This research paper sees the light in time because of my supervisor cogent and timely
pressure. This is not that he is always put pressure on me rather on the other hand his unique
decency and modesty and amicable smile and soft behavior really gave us a sigh of relief on his
strict alarming. Throughout the research we always keep in touch.
Finally, I am grateful to Shamima Akther, Honorable librarian of the IR department Seminar
library for support by providing journal and books. I am also grateful to Professor Amena
Mohsin for his critical analysis on globalization I got the basic ideas from his class lecture.
I am also grateful to my parents (my father recently passed way from us very suddenly) and
family members for their relentless support to me. Despite poverty my parents sent me school
and bear all my expenses that are why they had to lead a very miserable life. I am grateful to my
brother for his help after the demise of my father. This thesis paper is one of my best academic
efforts. So I acknowledge all the writers and researchers without whose works my work could
not be materialized. I also acknowledge all the contribution of our faculty members and
insightful lectures help me building up a rational and logical mind.

ACRONYMS AND ABBREVIATIONS


Acronyms and abbreviations
AIDS

Acquired Immune Deficiency Syndrome

APEC

Asia and Pacific Economic Cooperation

AU

African Union

BIT

Bilateral Investment Treaty

CSO

Civil Society Organization

CSR

Corporate Social Responsibility

ECOSOC

United Nations Economic and Social Council

EPZ

Export Processing Zone

EU

European Union

FAO

Food and Agriculture Organization of the United Nations

FDI

Foreign Direct Investment

FSA

Financial Sector Assessment

G7

Group of 7

G8

Group of 8

G10

Group of 10

G77

Group of 77

GATS

General Agreement on Trade and Services

GATT

General Agreement on Tariffs and Trade

GAVI

Global Alliance for Vaccines and Immunization

GDLN

Global Distance Learning Network

GDP

Gross Domestic Product

GSP

Generalized System of Preferences

HIPC

Debt Initiative for Heavily Indebted Poor Countries

HIV

Human Immunodeficiency Virus

ICC

International Chamber of Commerce

ICFTU

International Confederation of Free Trade Unions

ICT

Information and Communications Technology

IFAD

International Fund for Agricultural Development

IFF

International Financing Facility

IFIs

International Financial Institutions

IMF

International Monetary Fund

ILO

International Labor Organization

IOE

International Organization of Employers

IOM

International Organization for Migration

IPRs

Intellectual Property Rights

IPU

Inter-Parliamentary Union

IT

Information Technology

ITU

International Telecommunications Union

LDCs

Least Developed Countries

MAI

Multilateral Agreement on Investment

MDGs

Millennium Development Goals

MNEs

Multinational Enterprises

NAFTA

North American Free Trade Agreement

NEPAD

New Partnership for African Development

NGO

Non-governmental Organization

NIE

Newly Industrializing Economy

ODA

Official Development Assistance

OECD

Organization for Economic Cooperation and Development

OHCHR

Office of the High Commissioner for Human Rights

PRSP

Poverty Reduction Strategy Papers

R&D

Research and Development

ROSC

Review of Standards and Codes

SADC

Southern African Development Community

SCM

Subsidies and Countervailing Measures

SDRs

Special Drawing Rights

SMEs

Small and Medium-sized Enterprises

SRI

Socially Responsible Investment

TPRM

Trade Policy Review Mechanism

TRIMs

Trade-Related Investment Measures

TRIPS

Trade-Related Aspects of Intellectual Property Rights

UN

United Nations

UNCTAD

United Nations Conference on Trade and Development

UNDP

United Nations Development Program

UNEP

United Nations Environment Program

UNESCO

United Nations Educational, Scientific and Cultural Organization

UNHCR

United Nations High Commissioner for Refugees

UNIDO

United Nations Industrial Development Organization

UNIFEM

United Nations Development Fund for Women

UNODC

United Nations Office on Drugs and Crime

WCL

World Confederation of Labor

WHO

World Health Organization

WTO

World Trade Organization

Abstract:
Globalization is a most talked word in the recent times. As I mentioned earlier, globalization has
a very widespread influence all over the world. After the end of cold war, And Washington
Consensus forced the third world country to accept the liberal economic model. Now in 2014,
what is the impact of globalization on the development of the third world economy? In my
paper, I tried to explain the three research question. My paper is divided into 9 parts. The three
central research questions are:

What is globalization?

Is globalization fostering development in the third world economy or increasing


dependency?

Is global inequality widening due to the process of globalization?

In the first part of my paper is dealt with the different aspects of globalization. I discussed the
concept, dimensions, timeline, definition, forms, agents, norms, structure, agents, dimensions
and evolution of the concept of globalization. Here I clearly mentioned the different aspects of
globalization. I also discussed the mainstream I R theories of globalization. I also discussed the
theoretical aspects of globalization. I critically analysis the flow of global trade, commerce,
information, mass migration, foreign direct investment, features and characteristics of
globalization is also discussed in this sections in details.
The second part of my research deals with globalization and global inequality. I have followed
few reports of the IMF, world outlook 2007, Human Development Report 2014, and world
inequality predicament 2006. This part shows the global trends of inequality and its outcome.
How inequality impact society, social values and social structure and living standards. There is a
comparison shown on global inequality to address that issue. In this part I argue that how
globalization promotes inequality and disparity both within and between countries.
Third part of my paper is deals with the globalization and dependency. At first I described what
is dependency and how dependency create problem in third world. I described positive
dependency and negative dependency. I give clear understanding about the dependency theory

and its various relevant example and chart how this dependency turn vicious circle from where
third world country is not able to turn back.
In the fourth section of my paper, I deal with the globalization and the development of the third
world. I argue from both perspectives from globalist perspective as well as regional anti globalist
perspective. I discussed Joseph Stiglitz( Globalization and Its Discontents) argument how
globalization and global policy and financial institution deprive the third world economies. I also
reviewed Jogdish Bhagwati argument in favor of globalization. from his book( In Defense of
Globalization)
In the fifth section, I give case studies of Bangladesh, India, East Asian Crisis, and China how
globalization affecting third world economy. I select India, and East Asian countries because
globalist cite east Asian countries as an example of the success of globalization. I investigate
how India, China and east Asian countries able to develop their economy and the role of
globalization and its agency.
In the sixth part, I discussed the case findings. What was their strategy for development and the
credit of global financial institutions?
In the section seven, I discussed research findings, global inequality and globalization. I
discussed the relations between globalization and third world dependency. I also discussed the
globalization and development of the third world economy.
In the section eight, I give few policy prescriptions for the third world country how to adopt with
globalization. How to adopt with global financial institution? And also few reform proposal for
global financial institution. I gave policy prescription for Bangladesh how to dealt with global
financial institution.
The last section is followed references and bibliography.

Research hypothesis:
There is a great debate about the impact of globalization. Although there are so many works is
already done on the various issues of globalization, there is a still knowledge gap about the total
impact of globalization. Globalization is a buzzword in the present world. The presence and
impacts of globalization can be found everywhere. It is no matter whether you are sitting in
Washington or sitting in Dhaka. If you go to in a small shop for buying something in the most
gorgeous city of USA than you will find the product of Bangladesh in reverse in Bangladesh
market especially in very remote area of Bangladesh a small shop contains American, Chinese,
and Indian product. We can find the existence of globalization in terms of culture, economy,
technology, trade, Commerce, infrastructural and social aspects. We can find the impacts of
globalization in the domestic and state level policy making.
Many people argue that globalization promotes development in the third world economy. It
reduces the gap between rich and poor. The advocates of liberal economy argue that it promotes
development, reduce poverty and inequality and reduce dependency of the third world countries.
But recent trends suggest that there is a doubt that whether globalization is working well in the
third world economy positively or not. Different research report and global dominance of market
and western and few selected countrys suggest that this is not working well.
My research hypothesis about the impact of globalization is that globalization promotes
inequality in the world, promotes dependency in the world. Globalization is not able to ensure
the sustainable and effective development in the third world countries in the world. Globalization
is all about working in favor the rich countries. I will justify my arguments on the basis of
reviewing relevant literature and analyzing empirical data on the impact of globalization.

Central Research Questions:


When I was thinking about choosing my research area, one think was roaming in my mind that
how globalization impacts on Bangladesh. On the other hand I wanted to get a clear idea about
the process of globalization. There is a strong debate among many analysts about the impact of
globalization. However, I prepared my research paper on the basis of these basic research
questions. I study relevant literature to seek the answer of this three basic research questions.
There are so many data but I always try to stick on these three research questions.

What is globalization?

Is globalization fostering development in the third world economy or increasing


dependency?

Is global inequality widening due to the process of globalization?

I wanted to understand the whole process of globalization because without clear understanding
about globalization. it is difficult to study and make a comment on globalization. I excluded the
developed world from my research because there is no debate about the impact of globalization
on developed world is positive. But, there is a huge debate about the impact of globalization on
the development of the third world. I will explore the impact of globalization in the third world. I
made an assessment on the basis of different well acclaimed report.
I also sought the answer of the third question that global inequality is also widening. However,
my research is revolved around these three basic questions.