Re-examining the impact of globalisation on economic growth: evidence from South America

Muhammad Ariff Azhan Norli and Chia, Yee Ee (2021) Re-examining the impact of globalisation on economic growth: evidence from South America. Labuan Bulletin of International Business and Finance (LBIBF), 19. pp. 55-63. ISSN 1675-7262 (P-ISSN) , 2600-7894 (E-ISSN)

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This study aims to re-examine the relationship between globalisation and economic growth in nine South America countries using the new KOF globalisation index. The new improvement version of globalisation index contains 43 variables compare to only 23 variables in the Dreher (2006) version which is more precisely quantifies the all-encompassing concept of globalisation. The new index of globalisation includes both de facto and de jure measures that would influence economic growth differently in certain countries. The data spanning a 17-year period from 2002-2018. Our baseline pooled Ordinary Least Squares (OLS) regression model finds that globalisation is positively and significantly associated with higher economic growth. This suggests that globalisation improves growth in overall South America countries. Hence, our key findings are supported with a battery of robustness tests, namely Fama MacBeth, quantile regression, and firm fixed effects.

Item Type: Article
Keyword: Globalisation , Economic growth , South america
Subjects: H Social Sciences > HC Economic history and conditions > HC10-1085 Economic history and conditions > HC94-1085 By region or country
Department: FACULTY > Labuan Faculty of International Finance
Depositing User: SAFRUDIN BIN DARUN -
Date Deposited: 26 Feb 2022 05:22
Last Modified: 26 Feb 2022 05:22

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