ECONOMIC DEPENDENCY AND THIRD WORLD UNDER DEVELOPMENT. NIGERIAN EXPERIENCE.
ABSTRACT
This study examines the relationship between the third world countries and the western capitalist countries. It shows dependency as a phenomenon or problem of relationship that gave rise to the economic growth and development of the western world in expense of the third world societies which are economically underdeveloped, and lack the capacity and ability to control the economic system or productive processes of the societies. In our attempt to analyze and address this problem we used dependency theory for the analytical framework while documentary research method was employed in gathering and analyzing data. Unequal relationship between Nigeria and countries of the western world coupled with negative role of the Nigeria economic elite was discovered as the major problem, it was ascertained that this problem is historically rooted in foundation of the society, as such, ordinary measures are not suitable, rather concrete type in form of socialist transformation is recommended by the study.
CHAPTER ONE
INTRODUCTION
Economic dependency is the lack of capacity and ability to control the economic system or productive process of a society such that the society as a state depends on foreign developed economy states for leadership and control through regulations and some economic institution. The country that are depending on the rest are mostly poor countries of the third world, Nigeria is a typical poor third world country and underdeveloped that depend on the western world for decision and implementation of economic policies , thereby contributing to the economic development of the west to her own detriment.
For example, (SAP) structure Adjustment programme of 1986, National Directorate of employment (NDE) of 1986, Petroleum Trust Fund (PTF) poverty alleviation programme etc. all seems to have end in failure aer gulping in estimate material and human resources, funded with loan and the associated intrest.
