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Globalisation and Economic Growth: A panel data approach

Candida Ferreira ()

No 2018/48, Working Papers REM from ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa

Abstract: Using different kinds of panel unit root and cointegration tests as well as panel estimations this paper seeks to improve upon the existing literature by testing the possible relationship between globalisation and the real GDP of 29 countries across almost all continents for the period 1970–2013. The results obtained allow us to confirm that globalisation is clearly relevant to economic growth, mostly when globalisation is proxied by variables related to international transactions, but also when it is proxied with the globalisation indexes and sub-indexes provided by the database of the Swiss think-tank KOF. There is also clear evidence that the long-run relationships, measured through panel cointegration, are stronger among the countries belonging to the same continent, Europe, as well as among those with a higher GDP per capita.

Keywords: Economic growth; globalisation; KOF indexes; panel estimations; cointegration (search for similar items in EconPapers)
JEL-codes: C22 E10 F41 F62 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2018-09
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