Answer: Global economic development
Step-by-step explanation:
Colonialization simply has to do with the control over some particular group of people by a nation or a power. It typically occurs when a country is subjugated by another country in such a way that the conquered country is exploited.
Economic effect of colonization include privileged access to colonial markets, one-way flow of wealth and greater trade restrictions. It should be noted that global economic development isn't an economic effect.