Article published in the «International Journal of Economic Development Research and Investment» — 2011 — Vol. 2 — No.1 (April) — pp. 147-156
This paper attempted to identify the rudiments of the relationship that exists between the centre and the periphery both at the international and national level in the light of the centre periphery model. It equally x-rayed the nature and effects of the relationship as it affects development of the underdeveloped economies which is a lesser partner in the asymmetrical arrangements within the International Economic System. The paper devoted to the critical issues arising from the question of inequalities in the division of labour between the center and the periphery. The rising value of unemployment and underemployment indices in the underdeveloped economies and the challenges it poises to their development. The research also identified the causes of the uneven development that exist between the metropolitan centers and the suburbs at the international and national levels. It has been discovered that the occurrence of low income in the urban centers is reflected in the rural areas as a trickle down or bandwagon effect, and that development is not taking place in the underdeveloped nations due to unemployment of the majority of the population who are the youths. The industrial base of the periphery is weak, and the resources which should be meant for development has been siphoned by corrupt leadership. The relationship of the first and third world has been marked by great hope and even greater disappointment. This paper argued that this relationship has been unequally consistence in spite of the various cooperation and integration attempts. Periphery state's relations with the first world also roughly parallel this distinction moving through three phases of colonial domination, confrontation with threats at nationalization and finally negotiation globalization.
