World Level Globalization and the Economic Performance of Four Third World Economies From 1980 – 2024

The study advances prior knowledge on globalization and business by empirically ascertaining how this phenomenon affects economic performance of third world economies from 1980 to 2024. The four third world countries were selected from Africa based on the size of their economies. These are Egypt, Algeria, Ethiopia and Nigeria. Descriptive research method was adopted in analyzing the historical trends in globalization in the selected countries. Information was extracted from KOF globalization index, Global Entrepreneurship Monitor and the global economy reports. Secondary data on net export value, balance of payment, GDP and self-employment were used in the analysis. The study which is anchored on the Modernization theory, seeks to establish the effect of globalization on economic performance. Data collected were analyzed using Linear Regression analysis. Result shows that global integration of goods and services markets has significant and positive effect on the performance of third world countries whereas global integration of financial markets does not have significant influence on performance of third world countries. It was concluded that world level globalization has both positive and negative effect on performance of third world countries. The researchers however, recommend that third world countries should review their trade treaties and other bilateral or multilateral agreements to ensure that their strength and weaknesses are taken into consideration and to eliminate exploitative clauses.