Home >> Economy and Society >> Peripheral economies

Peripheral economies

Peripheral economies are built upon a few commodities or a single commodity thus they are extremely vulnerable to fluctuations in price and demand. They have a dependent relationship with core economies that traces its roots to colonialism. They operate on the so-called fringes of the world economy. Most of the jobs that connect their workers to the world economy pay little and require few skills. Amid widespread and chronic poverty islands of greater economic activity may exist, including manufacturing zones and tourist attractions.

Current Affairs Magazine