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Private Sector, the Center of Globalization |
The tremendous speed
and the wide range for moving real and financial
capital in the last two decades of the twentieth
century made the private business sector consider
the whole world as the field for its operations and
reorganize its capital and changes its production
locations.
The private sector is the center of the global
economy, while all the other sectors are still far,
even though they are connected.
The household sector and the NGOs sector remain
locked in the national economies. These sectors have
international ties and connections and use the new
information and communication technology to exchange
experiences and strategies. But their possibility to
reach the tools of globalization are weak and
partial compared to the business sector.
The degree of how far they differ, because some
countries are more powerful than others, in
formulating the rules of globalization for the
private sector.
This resulted in rapid growth of production and
employment in some parts of the world, but on the
other hand, it also caused increasing inequalities
between countries, and within the countries
themselves, and the financial crises of South East
Asia, and the collapse of the average standard of
living in parts of the ex- Soviet Union and in
Sub-Saharan Africa.
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Table : Private Sector Development by Region |
Region
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Private Fixed Investment
(% of Gross Domestic Fixed Investment
|
Domestic Credit to Private Sector
(% of G.D.P)
|
Investment in Infrastructure projects
with Private Participation
($ Millions )
|
| |
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Tele- communications
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Energy
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Transport
|
Water & Sanitation
|
| |
1990
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1998
|
1990
|
1999
|
1990-94
|
1995- 99
|
1990-94
|
1995- 99
|
1990-94
|
1995- 99
|
1990-94
|
1995- 99
|
World
|
78.1
|
76
|
98.6
|
109
|
-
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-
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-
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-
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-
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-
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-
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-
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East Asia & Pacific
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63.3
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50.2
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71.4
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104.1
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9826.4
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38129.5
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16733.9
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39728.8
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10005.5
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27749.9
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4023.3
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8631.1
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Europe & Central Asia
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-
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-
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-
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18.9
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2849.1
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35506.3
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2174
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13945
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1089.1
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2097.6
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16
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1539.1
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Latin America & Caribbean
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74.3
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79.8
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28.5
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29.4
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35694
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87286
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13395.8
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63524
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14325.2
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38032.1
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4731.8
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8964.6
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Middle East & North Africa
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-
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-
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41.9
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47.2
|
118
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3809.5
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3131.5
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5748.9
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-
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647.2
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-
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4105.9
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South Asia
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55.9
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71.8
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24.6
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26.1
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834.1
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10693.8
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4630.2
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13655.2
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126.9
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1573.6
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-
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-
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Sub - Saharan Africa
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-
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-
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42.7
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66.2
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585.5
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6779.5
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138.8
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3334.9
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48.8
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1805.3
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23.2
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1053.6
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Europe
( EMU )
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-
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-
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75.7
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89.2
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-
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-
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-
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-
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-
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-
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-
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-
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Source :
World Bank (2001) World Development
Indicators 2001 |
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