Need for the study Essay

Empirical studies about the impact of globalization on Belize are rare. This paper studies the economic development of Belize in the light of globalization, privatization and economic liberalization. It studies how beneficial the economy has been to the people after the opening of the economy. It perceives and looks at the performance of BTL and its role in contributing to the development of the country. Research Questions The following research questions are asked in this paper: 1. How has globalization affected the economic development of Belize? 2. How has globalization affected the welfare of its people? 3. How has globalization affected the success of the dominant telecommunications company BTL? Purpose of the Study The research methodology is the set of processes used to collect and analyze data. Research methodology is defined as a structured set of guidelines or activities to assist in generating valid and reliable research results. This part describes the research methods and procedures used to obtain and analyze data in this study. Research design reflects the structure of the research project and provides the means of collecting suitable data to answer the research questions. This paper seeks to identify the social, political, economic and cultural issues and outcomes which have emerged from globalization in Belize. It reviews the telecommunication sector of the country by looking at the reports of BTL. It studies the performance of the BTL. It highlights the achievements and failures of the company. It researches and examines the company’s services in the light of the government’s telecommunication industry. A detailed analysis is conducted about the success and failure of globalization in Belize by using studies which provide analysis on the economic performance of the country. Finally the study uses research material to examine the globalization success or failure in Belize as compared with its neighbors. The impact of telecommunications industry in the light of globalization is studied and researched extensively in the paper. Literature Review Belize is a Central American state which became independent in the early 1980s. The country has a multicultural society with various ethnic and racial groups. The country has pursued an economic policy which is dependant on free trade and foreign investment. Agriculture exports comprise the majority of the country’s exports. An estimated one hundred and eighty five American companies have invested in the country’s infrastructure and telecommunications sector. With a population of three hundred thousand people, the government continues to invest in developing the infrastructure of the country (Neuman 26, 2003). The country enjoys decent standards of living with relatively stable electrical, telephone, and water infrastructure. However major roads of the country are hampered by lack of development. Belize City and Dangriga are the important sea ports which handle shipping arriving from the United States of America. All major international airlines provide regular flights to the country. Belize has embarked upon a program of economic liberalization which includes a fifteen million dollar electricity program (Neuman 27, 2003). Estimated twenty million dollars funds have also been received from the Inter American Development Bank. This money will be used to invest in social sectors and services. Another two million dollars have been collected to invest in poverty reduction programs. Another major investment project is the Agricultural Health Project which seeks to modernize the agricultural production and distribution sector. Brazil has provided assistance for the development of soybean in the country. The aim of the government has been to diversify its agricultural exports and decrease reliance on the export of sugar cane.