Globalization is an inevitable and irresistible process because many regional integrations emerged in the modern era. A global integration analysis, employing a country’s governance practices, offers various economic benefits and exerts socio-economic pressures on different economies. This study uses the KOF Globalization Index and Institutional Governance Indicators as explanatory variables and examines their impacts on GDP growth as a dependent variable. The study employed Two-step System GMM with a sample of 45 Asian economies, with the time horizon from 2003 to 2017. The outcomes show that globalization has positively impacted economic growth, sound regulatory control, and political stability. It further states that practical, feasible, and corruption-free or transparent economic policies significantly contribute to the economic progression of Asian economies, and help to achieve sustainable development. The study concludes by suggesting that some economic and governance recommendations strengthen struggling Asian economies by addressing the globalization phenomenon tactfully. Future studies can be explored by globalization’s impact on socio-economic development by taking regional integration as a moderating effect, which controls factors such as governance and institutional quality.

中文翻译：

---

全球化和治理决定因素对经济增长的影响：亚洲经济体的实证分析

全球化是一个不可避免和不可抗拒的过程，因为现代时代出现了许多区域一体化。全球一体化分析，采用一个国家的治理实践，提供各种经济利益，并对不同经济体施加社会经济压力。本研究使用 KOF 全球化指数和机构治理指标作为解释变量，并检查它们对 GDP 增长的影响作为因变量。该研究采用两步系统 GMM 对 45 个亚洲经济体的样本，时间跨度为 2003 年至 2017 年。结果表明，全球化对经济增长、健全的监管控制和政治稳定产生了积极影响。它进一步指出，切实可行的，无腐败或透明的经济政策极大地促进了亚洲经济体的经济发展，并有助于实现可持续发展。该研究最后提出，一些经济和治理建议可以通过巧妙地解决全球化现象来加强陷入困境的亚洲经济体。未来的研究可以以区域一体化为调节作用，控制治理和制度质量等因素，探讨全球化对社会经济发展的影响。