Globalization, Democratization and Economic Growth of East Asia

Jai S. Mah ()

International Area Studies Review, 2011, vol. 14, issue 3, 91-105

Abstract: This paper examines the causality among globalization, democratization and economic growth of four East Asian economies. A small-sample cointegration test is employed. The error-correction model shows that domestic investment causes economic growth in the case of Korea, Taiwan and Thailand. Foreign direct investment (FDI) inflows influence the economic growth of Malaysia and Taiwan positively, while there is no evidence suggesting that exports cause economic growth in four economies. There is no evidence that oppression of political freedom leads to economic growth in any of these economies. The current paper reveals that democratization is not caused by economic growth.

Keywords: globalization; democratization; economic growth; East Asia; JEL classification codes: F43, 043 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:sae:intare:v:14:y:2011:i:3:p:91-105

DOI: 10.1177/223386591101400304

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