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The dynamics of economic diplomacy in developing coutries: the case study of Nigeria

As new economic challenges develop within the domestic and international systems in the last couple of years and particularly in recent times, as evidenced by Nigeria where a complex array of new realities and trends dictates new approaches and strategies in internal restructuring and economic relat...

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Main Author: Madu Magnus Emeka,
Format: Article
Published: Penerbit UKM 2010
Online Access:http://journalarticle.ukm.my/355/
http://www.ukm.my/jebat
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spelling my-ukm.journal.3552011-05-31T03:56:28Z http://journalarticle.ukm.my/355/ The dynamics of economic diplomacy in developing coutries: the case study of Nigeria Madu Magnus Emeka, As new economic challenges develop within the domestic and international systems in the last couple of years and particularly in recent times, as evidenced by Nigeria where a complex array of new realities and trends dictates new approaches and strategies in internal restructuring and economic relationship, it necessitates profound reformation and adjustment in the management of the interplay of internal factors with external dynamics to evolve a viable national economy. This study examines the trends, the success and constraints of Nigeria’s strategies and approaches in managing the interplay of its internal factors with external dynamics to evolve a viable national economy. The study is based on the assumption that the interplay of internal factors with external dynamics shapes and re-shapes nations. The economic constraints facing Nigeria and other developing countries since independence continue to generate a debate that is marked by two schools of thought. Firstly, the dependency theory which holds the view that openness to colonialism and neo-colonialism, was the major cause of the new nations economic backwardness. As such, delinking from the core nations will be an option for economic development. Secondly, by 1970s, the neo liberal view gained ground that as developing countries lack investment capital, skilled workers, infrastructures, internal political stability, there is a need for internal reformation and opening up to foreign technology transfers. To face the economic challenges of the time, Nigeria adopts the neo liberal school of thought. The study is based on a qualitative research design and utilizes content analysis of primary and secondary data. The study reveals that Nigeria’s strategy and approach to economic diplomacy have not been yielding the desired results, due to some structural and leadership problems such as the lack of social infrastructures, political stability, and the spirit of patriotism and nationalism among the leaders. Penerbit UKM 2010 Article PeerReviewed Madu Magnus Emeka, (2010) The dynamics of economic diplomacy in developing coutries: the case study of Nigeria. Jebat: Malaysian Journal of History, Politics and Strategic Studies, 37 . p. 165. ISSN 2180-0251 http://www.ukm.my/jebat
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
description As new economic challenges develop within the domestic and international systems in the last couple of years and particularly in recent times, as evidenced by Nigeria where a complex array of new realities and trends dictates new approaches and strategies in internal restructuring and economic relationship, it necessitates profound reformation and adjustment in the management of the interplay of internal factors with external dynamics to evolve a viable national economy. This study examines the trends, the success and constraints of Nigeria’s strategies and approaches in managing the interplay of its internal factors with external dynamics to evolve a viable national economy. The study is based on the assumption that the interplay of internal factors with external dynamics shapes and re-shapes nations. The economic constraints facing Nigeria and other developing countries since independence continue to generate a debate that is marked by two schools of thought. Firstly, the dependency theory which holds the view that openness to colonialism and neo-colonialism, was the major cause of the new nations economic backwardness. As such, delinking from the core nations will be an option for economic development. Secondly, by 1970s, the neo liberal view gained ground that as developing countries lack investment capital, skilled workers, infrastructures, internal political stability, there is a need for internal reformation and opening up to foreign technology transfers. To face the economic challenges of the time, Nigeria adopts the neo liberal school of thought. The study is based on a qualitative research design and utilizes content analysis of primary and secondary data. The study reveals that Nigeria’s strategy and approach to economic diplomacy have not been yielding the desired results, due to some structural and leadership problems such as the lack of social infrastructures, political stability, and the spirit of patriotism and nationalism among the leaders.
format Article
author Madu Magnus Emeka,
spellingShingle Madu Magnus Emeka,
The dynamics of economic diplomacy in developing coutries: the case study of Nigeria
author_facet Madu Magnus Emeka,
author_sort Madu Magnus Emeka,
title The dynamics of economic diplomacy in developing coutries: the case study of Nigeria
title_short The dynamics of economic diplomacy in developing coutries: the case study of Nigeria
title_full The dynamics of economic diplomacy in developing coutries: the case study of Nigeria
title_fullStr The dynamics of economic diplomacy in developing coutries: the case study of Nigeria
title_full_unstemmed The dynamics of economic diplomacy in developing coutries: the case study of Nigeria
title_sort dynamics of economic diplomacy in developing coutries: the case study of nigeria
publisher Penerbit UKM
publishDate 2010
url http://journalarticle.ukm.my/355/
http://www.ukm.my/jebat
_version_ 1643734686687559680
score 13.211869

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