The paper concludes that globalization has catalyzed the need to accelerate public sector Reforms in developing countries and the need to set up correctly-working institutions. The current globalization movement reveals unprecedented levels of exchange international trade and unparalleled technological innovations, fuelled by levels of consumer demand never previously known, carrying a potential for growth and prosperity transcending any that the world had ever recorded. The understand and incorporate different and alternative cultural traditions into a common matrix, true globalizationmeans the ability to study, with respect for diversity and with an open mind such a perspective.