Globalization: Between Optimism and Pessimism.

ABSTRACT: This article examines the globalization's effect on the economy using a sample of thirty one developing countries over the period from 1981 to 2013. Globalization is captured by foreign direct investment, openness, and the KOF Globalization Index, measuring globalization along the economic, social, and political dimension. The Westerlund's (Oxford Bulletin of Economics and Statistics 69:709-748, 2007) cointegration test suggests that the models are cointegrated. The long-run outputs from the autoregressive distributed lag model disclose the following results. First, foreign investment exerts a negative effect on industrialization captured by industry added value and industry employments, whereas trade openness enhances industrialization. Second, the effect of globalization on industrializa

SUBMITTER: Ngameni JP 

PROVIDER: S-EPMC10021033 | biostudies-literature | 2023 Mar

REPOSITORIES: biostudies-literature