The impact of globalization on less developed countries and the role of intergovernmental/multilateral organizations in promoting development in less developed countries

Globalization has in recent years been a subject of much discussion and debate mainly because of the impact or ramification which it brings, involving as it does more than one nation state, international organizations, non-governmental organizations and the economic growth and development of many countries---rich and poor alike. The impact of globalization is wide and cross-cutting internationally, the process affecting culture, politics and trade economics with some countries benefiting and others losing in the process.;To set the scene, chapter 1 gives an historical overview of the world divide into 'Rich World' and 'Poor World' known as the North-South divide; the developed countries being referred to as the North and the less developed countries being referred to as the South. In order to understand why developing countries remain poor, the history of colonialization and its impact on less developed countries has been part of my research, the findings being outlined in chapters 2 and 3. During colonialization the political, social and economic framework of colonies were designed by the 'mother countries' (the rich industrial North) so that LDCs were economically dependant on the North even after political independence. This led to the demand for a New International Economic Order (NIEO). Globalization is having both positive and negative impacts on LDCs. However, it is contributing towards a new international economic order and does facilitate international capital transfers from developed countries to LDCs. The multilateral and intergovernmental organizations mentioned earlier all play very important roles in mitigating the negative impacts of globalization and in assisting development of the LDCs.;This thesis examines the impact of globalization on the less developed countries (LDCs) or developing countries and reviews the role play by international and multilateral organizations like the World bank (WB), regional development banks (African Development Bank (AfDB), Asian Development Bank (AsDB), and the Inter-American Development Bank (IDB)), and the World Trade Organization (WTO) in the development of LDCs.