Does globalization accelerate economic growth? South Asian experience using panel data
Abstract The paper investigates the impact of globalization (overall, economic, social, and political) on economic growth of South Asian countries over the period from 1971 to 2014 employing cross-sectional dependence test, Cross sectionally Augmented Dickey–Fuller (CADF) unit root test (Pesaran in...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2019-07-01
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| Series: | Journal of Economic Structures |
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| Online Access: | http://link.springer.com/article/10.1186/s40008-019-0159-x |
| _version_ | 1818303436599328768 |
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| author | Md Abu Hasan |
| author_facet | Md Abu Hasan |
| author_sort | Md Abu Hasan |
| collection | DOAJ |
| description | Abstract The paper investigates the impact of globalization (overall, economic, social, and political) on economic growth of South Asian countries over the period from 1971 to 2014 employing cross-sectional dependence test, Cross sectionally Augmented Dickey–Fuller (CADF) unit root test (Pesaran in J Appl Econ 22(2):265–312 https://doi.org/10.1002/jae.951, 2007), and Pooled Mean Group (PMG) panel cointegration model (Pesaran et al. in J Am Stat Assoc 94(446):621–634, 1999). Results report that overall globalization, economic globalization, and political globalization accelerate economic growth in the long-run; however, the dimensions of globalization have no significant effect in the short-run. Focusing on the individual country regressions, we find the amalgam results, as the characteristics, elasticity, and strength of political, social, and economic institutions are different in the selected countries. The policy implication is that the governments of South Asian countries should realize the importance of globalization as a powerful influencing force and should adopt the new circumstances of globalization quickly and try to find coherent policies to be connected with an evolving world. |
| first_indexed | 2024-12-13T05:54:46Z |
| format | Article |
| id | doaj.art-ee36f4f15d4c401080c690cd70886e63 |
| institution | Directory Open Access Journal |
| issn | 2193-2409 |
| language | English |
| last_indexed | 2024-12-13T05:54:46Z |
| publishDate | 2019-07-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Journal of Economic Structures |
| spelling | doaj.art-ee36f4f15d4c401080c690cd70886e632022-12-21T23:57:28ZengSpringerOpenJournal of Economic Structures2193-24092019-07-018111310.1186/s40008-019-0159-xDoes globalization accelerate economic growth? South Asian experience using panel dataMd Abu Hasan0Bangladesh Civil Service (General Education), Ministry of EducationAbstract The paper investigates the impact of globalization (overall, economic, social, and political) on economic growth of South Asian countries over the period from 1971 to 2014 employing cross-sectional dependence test, Cross sectionally Augmented Dickey–Fuller (CADF) unit root test (Pesaran in J Appl Econ 22(2):265–312 https://doi.org/10.1002/jae.951, 2007), and Pooled Mean Group (PMG) panel cointegration model (Pesaran et al. in J Am Stat Assoc 94(446):621–634, 1999). Results report that overall globalization, economic globalization, and political globalization accelerate economic growth in the long-run; however, the dimensions of globalization have no significant effect in the short-run. Focusing on the individual country regressions, we find the amalgam results, as the characteristics, elasticity, and strength of political, social, and economic institutions are different in the selected countries. The policy implication is that the governments of South Asian countries should realize the importance of globalization as a powerful influencing force and should adopt the new circumstances of globalization quickly and try to find coherent policies to be connected with an evolving world.http://link.springer.com/article/10.1186/s40008-019-0159-xEconomic globalizationEconomic growthPanel data analysisPooled mean group |
| spellingShingle | Md Abu Hasan Does globalization accelerate economic growth? South Asian experience using panel data Journal of Economic Structures Economic globalization Economic growth Panel data analysis Pooled mean group |
| title | Does globalization accelerate economic growth? South Asian experience using panel data |
| title_full | Does globalization accelerate economic growth? South Asian experience using panel data |
| title_fullStr | Does globalization accelerate economic growth? South Asian experience using panel data |
| title_full_unstemmed | Does globalization accelerate economic growth? South Asian experience using panel data |
| title_short | Does globalization accelerate economic growth? South Asian experience using panel data |
| title_sort | does globalization accelerate economic growth south asian experience using panel data |
| topic | Economic globalization Economic growth Panel data analysis Pooled mean group |
| url | http://link.springer.com/article/10.1186/s40008-019-0159-x |
| work_keys_str_mv | AT mdabuhasan doesglobalizationaccelerateeconomicgrowthsouthasianexperienceusingpaneldata |