Dumitrescu-Hurlin Panel Granger Causality test results show that there is a two-way causality relationship between capital accumulation and political globalization and economic growth.
📌 3 Key Takeaways
🎯
Objective & Hypothesis:The main purpose of this study is to analyse the long-term relationship between economic growth and economic, social and political globalization in BRICS-T countries using panel data analysis methods for the period covering 1990-2014.
📊
Key Findings & Data:According to the empirical results of the model established based on the Cobb-Douglas production function, it is seen that economic, social, political globalization and capital accumulation have a positive effect on economic growth.
💡
Conclusion & Impact:Dumitrescu-Hurlin Panel Granger Causality test results show that there is a two-way causality relationship between capital accumulation and political globalization and economic growth.
🔬Design:Modeling & Simulation
📍Scope:2014 Verileri
⚙️Variables:Economic Globalization · Social and Political Globalization · Economic Growth
Abstract
The main purpose of this study is to analyse the long-term relationship between economic growth and economic, social and political globalization in BRICS-T countries using panel data analysis methods for the period covering 1990-2014. According to the empirical results of the model established based on the Cobb-Douglas production function, it is seen that economic, social, political globalization and capital accumulation have a positive effect on economic growth. Dumitrescu-Hurlin Panel Granger Causality test results show that there is a two-way causality relationship between capital accumulation and political globalization and economic growth. It has also been found that one-way causality relationship towards economic growth from economic and social globalization.
TEKBAŞ, M. (2021). The Impact Of Economic, Social And Political Globalization On Economic Growth: Evidence From BRICS-T Countries*. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, Cilt: 20 - Sayı: 1, 57–71. https://ajindex.com/articles/87093
Afzal, M. (2007). The İmpact Of Globalization On Economic Growth Of Pakistan. The Pakistan Development Review, 46(4-2) pp.723-734.
Ali, A. and Imai, K. S. (2015). Crises, economic integration and growth collapses in African countries. Journal of African Economies, 24(4) pp. 471-501.
Alvarado, R. Iñiguez, M. and Ponce, P. (2017). Foreign direct investment and economic growth in Latin America. Economic Analysis and Policy, 56, pp. 176-187.
Breitung, J. and Das, S., 2004. Panel unit root tests under cross sectional dependence. Mimeo, University of Bonn Chang, C. P. and Lee, C. C. (2011). The Effect of Globalization and Political Party On Economic Growth: Panel Data Analysis Of Former Communist Countries And European OECD Members, Eastern European Economics, 49(6), pp. 5-26.
Chang, C. P., Berdiev, A. N. and Lee, C. C. (2013).
Energy Exports, Globalization And Economic Growth: The Case Of South Caucasus. Economic Modelling, 33, pp. 333-346.
Chang, C.P. and Lee, C-C. (2010) Globalization and Economic Growth: A Political Economy Analysis For OECD Countries, Global Economic Review, 39(2) pp. 151.173. Doğan, B. (2017). Relationship Between Economic Globalization and Growth: Toda-Yamamoto Causality Analysis in the Case of Turkey. Journal of Finance-Political & Economic Comments, 54(628), 19-27.
Doğan, B. and Can, M. (2016). The Effect of Globalization on Growth: Cointegration Analysis for the Sample of South Korea, Journal of The Faculty of Economics and Administrative Sciences, 6(2), pp. 197-220.
Dreher, A. (2006), “Does Globalization Affect Growth? Evidence From A New Index of Globalization”, Applied Economics, C:38, S:10, pp. 1091-1110.
Dumitrescu, E. I. and Hurlin C., (2012). Testing for Granger non-causality in heterogeneous panels, Economic Modelling, 29(4), pp. 1450-1460.
Eren, M. V. and Ergin, Ü. A. (2019). Analysis of the Relationship between Trade Openness and Economic Growth: Sosyoekonomi, 27. Gövdere, B. and Can, M. (2016).
The Effects Of Energy Consumption, Openness, Financial Development, Capital Formation And Foreign Trade On Economic Growth In Turkey: Bounds Testing Approach, Niğde University Journal of The Faculty of Economics and Administrative Sciences, 9(1), pp. 209-228.
Gözen, R. (2004). Post-International Relations Pluralism, Globalization and September 11, 1st Edition,
Alfa Publications, İstanbul. pp. 71-72.
Gözgör, G. and Can, M. (2017). Causal Linkages among the Product Diversification of Exports, Economic Globalization and Economic Growth.