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Globalization and economic growth: empirical evidence on the role of complementarities.

ABSTRACT: This study was carried out to investigate the effect of economic globalization on economic growth in OIC countries. Furthermore, the study examined the effect of complementary policies on the growth effect of globalization. It also investigated whether the growth effect of globalization depends on the income level of countries. Utilizing the generalized method of moments (GMM) estimator within the framework of a dynamic panel data approach, we provide evidence which suggests that economic globalization has statistically significant impact on economic growth in OIC countries. The results indicate that this positive effect is increased in the countries with better-educated workers and well-developed financial systems. Our finding shows that the effect of economic globalization also depends on the country's level of income. High and middle-income countries benefit from globalization whereas low-income countries do not gain from it. In fact, the countries should receive the appropriate income level to be benefited from globalization. Economic globalization not only directly promotes growth but also indirectly does so via complementary reforms.

SUBMITTER: Samimi P

PROVIDER: S-EPMC3982958 | biostudies-literature | 2014

REPOSITORIES: biostudies-literature

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Globalization and economic growth: empirical evidence on the role of complementarities.

Samimi Parisa P Jenatabadi Hashem Salarzadeh HS

PloS one 20140410 4

This study was carried out to investigate the effect of economic globalization on economic growth in OIC countries. Furthermore, the study examined the effect of complementary policies on the growth effect of globalization. It also investigated whether the growth effect of globalization depends on the income level of countries. Utilizing the generalized method of moments (GMM) estimator within the framework of a dynamic panel data approach, we provide evidence which suggests that economic global ...[more]

PMID: 24721896

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Project description:BackgroundUnhealthy dietary patterns have in recent decades contributed to an endemic-level burden from non-communicable disease (NCDs) in high-income countries. In low- and middle-income countries rapid changes in diets are also increasingly linked to malnutrition in all its forms as persistent undernutrition and micronutrient deficiencies continue to coexist with a rising prevalence of obesity and associated NCDs. Economic globalization and trade liberalization have been identified as potentially important factors driving these trends, but the mechanisms, pathways and actual impact are subject to continued debate.MethodsWe use a 'rigorous review' to synthesize evidence from empirical quantitative studies analysing the links between economic globalization processes and nutritional outcomes, with a focus on impact as well as improving the understanding of the main underlying mechanisms and their interactions.FindingsWhile the literature remains mixed regarding the impacts of overall globalization, trade liberalization or economic globalization on nutritional outcomes, it is possible to identify different patterns of association and impact across specific sub-components of globalization processes. Although results depend on the context and methods of analysis, foreign direct investment (FDI) appears to be more clearly associated with increases in overnutrition and NCD prevalence than to changes in undernutrition. Existing evidence does not clearly show associations between trade liberalization and NCD prevalence, but there is some evidence of a broad association with improved dietary quality and reductions in undernutrition. Socio-cultural aspects of globalization appear to play an important yet under-studied role, with potential associations with increased prevalence of overweight and obesity. The limited evidence available also suggests that the association between trade liberalization or globalization and nutritional outcomes might differ substantially across population sub-groups. Overall, our findings suggest that policymakers do not necessarily face a trade-off when considering the implications of trade or economic liberalization for malnutrition in all its forms. On the contrary, a combination of nutrition-sensitive trade policy and adequate regulation of FDI could help reduce all forms of malnutrition. In the context of trade negotiations and agreements it is fundamental, therefore, to protect the policy space for governments to adopt nutrition-sensitive interventions.

Project description:PurposeThis study identified critical constraints in technology adoption for Direct Seeded Rice (DSR) compared with puddled transplanted rice (PTR) practices. We present the impact of DSR technology adoption on paddy yield, income generation, and cost incurred on various farm operations. Furthermore, the study investigates whether a dry DSR practice provides more economic and production benefits than a wet DSR.MethodologyWe used a multi-stage sampling (from state to district-to-village-to-farmers) and conducted a face-to-face questionnaire survey to collect primary farm-level data. We collected 669 farm and household-level data and analyzed the impact of DSR and dry DSR adoption over PTR and wet DSR, respectively. Initially, the study employed probit regression analysis to identify the DSR adoption determinants. Subsequently, using the Propensity Score Matching approach, the study measures the impact of DSR adoption over PTR in terms of yield, income, and cost management. Finally, using the PSM approach, the study estimated the impact of dry DSR adoption over wet DSR.FindingsProbit estimates suggest that variables like education, membership in farmers' organizations, farm experience, institutional credit, crop insurance, off-farm income, and smartphone and television ownership positively regulate DSR adoption. The impact assessment analysis reveals that the adoption of DSR over PTR results in marginal yield improvement. However, the cost of irrigation, land preparation, and fertilization is significantly lower in DSR, resulting in an additional income of ₹5192/acre for DSR adopters. Moreover, a comparative analysis between dry DSR and wet DSR indicates that farmers can achieve ₹2467/acre by adopting dry DSR.Practical implicationsOur research findings designate the necessity for implementing policies and strategies to promote the adoption of DSR among non-adopters. Besides economic benefits, adopting the DSR method can yield environmental benefits, improve soil health, mitigate soil erosion, and decrease water use.

Dataset Information

Globalization and economic growth: empirical evidence on the role of complementarities.

Publications

Globalization and economic growth: empirical evidence on the role of complementarities.

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