Price: 2000 Naira (BSC, MSC)

ABSTRACT

Globalization is a process of creating a global market place in which increasingly all nations are forced to
participate . Key elements of this process are interconnection of sovereign nations through trade and
capital flow, harmonization of the economic rules that govern relationship between these sovereign
nations, creating instructions to support and facilitate dependence and interconnection and creation of
a global market place.
The world as we know it is shrinking, thanks to advancing technology and people around the globe are
more connected to one another than ever before. As a result, corporate bodies and individuals the
world over are finding themselves in a situation where they have to restructure and reposition
themselves in order to efficiently utilize global resources and maximize the gains accruable from the
delivery of specialized products and professional services via the global market place,the internet.
This method of doing business is termed e-commerce. E-commerce, literally meaning Electronic
commerce, has evolved rapidly over the last two decades. It consist primarily of distribution, marketing,
buying and selling of products or services and transfer of funds over electronic system such as the
internet. It also covers a wide range of business from consumer-based retail sites, through auction and
music sites, and corporate sites for business exchanges.

CHAPTER ONE

INTRODUCTION

1.1 Background to the study
The process of globalization has come a long way since the marshal plan for
Europe after the second world war when the vogue was the dismantling of the
capital control in a bid to create a conducive international environment for
economic development efforts. Varied channels of trade and financial channels of
trade and financial integration have since been created to facilitate the
attachment of this objective. For instance over the years, global trade has been
greatly enhanced through various trade agreements as enunciated in the general
agreements of tariffs, and trade and its recent successor, the World Trade
Organization (WHO). Globalization is a process of integrating economic decision
making such as the consumption, investing and saving process all across the
world. It is a process of creating a global market place in which increasingly all
nations are forced to participate. Key elements of this process are:
interconnection of sovereign nations through trade and capital flows,
harmonization of the economic rules that govern relationship between these sovereign nations, creating instructors to support and facilitate dependence and
interconnection and creation of a global market place.
Another perspective of globalization goes beyond the economic sphere. The
opening which the information technology has created impact on almost all
aspect of human life (culture, religion and values are all affected as people all
over the world are exposed more than ever before to different and alternative
views). The fear of cultural imperialism underscores a point that globalization
could also be seen as a process of harmonization of different cultures and
believes.
Globalization can also be defined as the process of shifting autonomous
economics into the global market, the systematic integration of autonomous
economics into a global system of production and distribution. This process is
getting new strains in the global trading environment and placing new emphasis
on international cooperation which calls for adjustment by all participating
countries on the more positive side which the process is providing the means for
large expansion of world trade increase for national economic growth for
countries in the position to benefit. The world as we know it is shrinking, thanks
to advancing technology, and people around the globe are more connected to one another than ever before. There is also a growing interdependence of
countries world-wide, through the increasing volume and variety of cross-border
transactions in goods and services. As a result, corporate bodies and individuals
the world over, are finding themselves in a situation where they have to
restructure and reposition themselves in order to efficiently utilize global
resources and maximize the gains accruable from the delivery of specialized
products and professional services via the global market place called internet.
This method of doing business is termed e-commerce. E-commerce, literally
meaning Electronic Commerce, has evolved rapidly over the last five years. It
consists primarily of the distribution, marketing, buying and selling of products or
services, and transfer of funds over electronic system such as the internet. It also
covers a wide range of business from consumer-based retail sites, through
auction and music sites, to business exchanges between corporations.
1.2 Statement of research problem
Nigeria has not been spared from the phenomenon of globalization. Although the
adverse consequences have not been pronounced the fact remains that Nigeria
has become relatively more integrated into the global economic system.
The tempo intensified with the policy shift from trade and exchange controls to
economic liberation from 1986. Nigeria is highly dependent on external trade
while rapid inflow of capital has been stemmed largely as a result of the relatively
underdeveloped state of the financial markets.
1.3 Statement of problem
1.4 Research questions
For the purpose of this project, the following research questions are posed:
(i) What type of relationship exist between globalization and e-commerce?
(ii) What impact has globalization had on the Nigerian economy?
(iii) Has globalization actually improved the trade relationship between
Nigeria and other countries?
(iv) How can development be ushered in (economic development) using ecommerce?
(v) What are the factors combating against e-commerce in Nigeria?
1.5 Objectives of study
 To examine profound implications of globalization for Nigerian
economy.
 To examine the impact of international integration of market for goods,
services and capital.
 To analyse how development can be ushered in that is economic
development through the use of e-commerce.
RESEARCH QUESTIONS
For the purpose of this project, the following research questions are posed:
(vi) What type of relationship exist between globalization and e-commerce?
(vii) What impact has globalization had on the Nigerian economy?
(viii) Has globalization actually improved the trade relationship between
Nigeria and other countries?
(ix) How can development be ushered in (economic development) using ecommerce?
(x) What are the factors combating against e-commerce in Nigeria?
1.6 Significance of study
The researcher firmly believes that the result of this research work will enable
Nigerian policy makers, to know that globalization is inescapable, and why we
must have a proper vision of its consequence and understand how we would take
advantages of its opportunities.
The study will help to show the gains that a country can achieve by engaging in ecommerce.
This study will critically distinguish the present term of globalization from the
earlier globalization process.
The research study will show the process through which development can be
ushered in with the use of e-commerce. The study will serve as a reference
material for future and further researchers in this field of study and tends to
expand the horizon of existing knowledge to a frontier.
1.5 METHODOLOGY
Sources and method of data collection
In this research work, qualitative method of inquiry was adapted,which relies on
the use of secondary data. The information that served the basis of my analysis
was sourced from books, periodicals, journals, internet daily’s and other relevant
official records and documents from business organizations (industries and
companies). The research reviewed scholarly literature on the topic of study

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