The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey

Hamza Cestepe (), Havanur Ergun Tatar and Serdar Erdogan
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Hamza Cestepe: Zonguldak Bulent Ecevit University Faculty of Economics and Administrative Sciences Department of Economics Zonguldak Turkiye
Havanur Ergun Tatar: Bartin University Faculty of Economics and Administrative Sciences Department of Economics Bartin Turkiye
Serdar Erdogan: Trakya University Uzunköprü School of Applied Sciences Department of Accounting and Financial Management Edirne Turkiye

Istanbul Journal of Economics-Istanbul Iktisat Dergisi, 2023, vol. 73, issue 73-2, 717-743

Abstract: As a multi-dimensional concept that affects many other factors globalization has a profound impact on the economy as well. It is possible to argue that developing countries are more affected by globalization than others. In this study the impact of globalization on the various aspects of economic growth is analyzed empirically for Turkey a developing country. The ARDL Bounds Test was applied as an econometric methodology using the dataset period between 1970-2018 for Turkey. This study used economic social political and overall globalization indices to measure globalization. The results show that social economic and political globalization affect economic growth positively whereas the overall globalization index affects it negatively in the long run. The ARDL Bounds Test results show that the utilized variables in the study are co-integrated in the long run. In fact there is an economic relationship between the variables.

Keywords: Globalization; Economic; growth; Turkey; ARDL; bounds; test; JEL; Classification:; F43; F62; O47 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ist:journl:v:73:y:2023:i:2:p:717-743

DOI: 10.26650/ISTJECON2023-1248345

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