Globalization and Economic Growth: The Case Study of Developing Countries

Abstract

The aim of this study is to investigate the effect of dimensions of globalization on economic growth in 100 developing countries using panel data. The globalization index used is KOF and period of study is 1970-2014.The results show that the impact of political globalization on economic growth in upper middle income countries is negative and significant. Also, economic and social globalization has not significant effect on economic growth. Furthermore, the effect of total and political globalization on economic growth in developing countries with lower middle income is positive and significant but economic and social globalization factors have not significant effect, statistically.