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Globalization and Economic Growth: A Sustainability Analysis for South Asian Countries
Global Policy ( IF 2.375 ) Pub Date : 2022-03-17 , DOI: 10.1111/1758-5899.13073
Yuanzhi Liu 1 , Akintoye Victor Adejumo 2 , Oluwabunmi Opeyemi Adejumo 3 , Timothy Ayomitunde Aderemi 4
Affiliation  

The effect of globalization on national economies remain a subject of empirical interest. Owing to the spillovers via globalization effects, a number of economies in the South Asian region have recorded phenomenal economic growth. However, the extent to which economic growth can influence development outcomes remains the issue of interest. Therefore, this study adds to the literature by examining the time and modulative effects of economic globalization on some direct regressors of economic growth. The study focused on eight South Asian countries from 1996 to 2019 for which data on globalization were sourced from Konjunkturforschungsstelle Globalization index, World Governance Indicators and International country risk database. A pooled autoregressive-distributed lag (ARDL) approach was utilized in addressing the objective of this study. Consequently, the findings suggest that while globalization influences economic growth positively, rising interest rates and inflationary pressures can unsustain this influence. Likewise, the modulated estimates show that economic globalization can be utilized as a tool to stimulate investment as well as to check corruption and subsequently sustain economic growth in South Asian economies.

中文翻译:

全球化与经济增长:南亚国家的可持续性分析

全球化对国民经济的影响仍然是一个实证研究的主题。由于全球化效应的溢出效应,南亚地区的一些经济体实现了惊人的经济增长。然而,经济增长对发展成果的影响程度仍然是一个令人感兴趣的问题。因此,本研究通过考察经济全球化对经济增长的一些直接回归因素的时间和调节效应来增加文献。该研究侧重于 1996 年至 2019 年的八个南亚国家,其全球化数据来自 Konjunkturforschungsstelle 全球化指数、世界治理指标和国际国家风险数据库。在解决本研究的目标时,使用了汇集自回归分布滞后 (ARDL) 方法。因此,研究结果表明,虽然全球化对经济增长产生了积极影响,但不断上升的利率和通胀压力可能无法维持这种影响。同样,调整后的估计表明,经济全球化可以用作刺激投资以及遏制腐败并随后维持南亚经济体经济增长的工具。
更新日期:2022-03-17
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