Article Gold Open Access 2026

Promoting Structural Transformation in Africa in Times of Antiglobalization, Economic Nationalism, and Protectionism Sentiments

Thunderbird International Business Review
Journal · Vol. 68 · Issue 1 · pp. 33-56
Abstract

In recent years, the global economy has been marked by both challenges and opportunities, shaped by significant antiglobalization events such as the 2016 BREXIT vote and the ongoing US-China trade conflict, which have had far-reaching consequences. Given Africa's vulnerability to external influences, this study is conducted for two reasons: first, to explore the unconditional impact of antiglobalization on Africa's structural transformation, and second, to analyze the conditional effects of human capital development on the continent's structural transformation. In this study, antiglobalization is examined in the context of its risks to the economic, political, social, and financial dimensions of globalization. These risks were quantified with standard errors obtained from first-order autoregressive processes of respective globalization proxies. The analysis focuses on 48 African countries, utilizing data from 2010 to 2022. The fixed effects regression, Driscoll–Kraay fixed effects standard error regression, and the bias-corrected least squares dummy variable (LSDV) were adopted as estimation techniques, with the third serving as a robustness check. The study finds that human capital development positively moderates the negative unconditional impact of antiglobalization on Africa's structural transformation. Critical levels of human capital development for such moderation are provided. Other findings from the study and their associated policy recommendations are discussed in line with the 2063 African Union's agenda and the United Nations' sustainable development goals (SDGs). © 2025 The Author(s). Thunderbird International Business Review published by Wiley Periodicals LLC.

Keywords

Author Keywords

human capital development Africa anti-globalization economic nationalism and protectionism sentiments structural transformation

Index Keywords

Author Affiliations
Department of Economics, University of Nigeria, Naukka, Enugu, Nigeria
Department of Political Science, University of Nigeria, Naukka, Enugu, Nigeria
School of Economics, University of Johannesburg, Johannesburg, Gauteng, South Africa, Tashkent State University of Economics, Tashkent, Uzbekistan, Institute of Convergence Science, Korea University, Seoul, South Korea
Funding & Acknowledgements
No funding information
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