Globalization and post-soviet countries’ economic growth: empirical analysis (გლობალიზაცია და პოსტსაბჭოთა ქვეყნების ეკონომიკური ზრდა: ემპირიული ანალიზი)
Loading...
Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
Globalization is a complicated process, which is not a new phenomenon. It has three main dimensions:
political, social and economic. Considering a complex content of globalization, an important problem of
researchers was related to quantitatively express the effect of globalization on economic growth. After the
construction of different indexes measuring globalization in different countries, many authors estimated the
impact of globalization on economic growth. This article empirically analyzes the effects of globalization on the
economic growth of post-Soviet countries. The index developed by the Swiss Economic Institute (KOFGI) is used
to assess the level of globalization. Based on a panel data analysis covering 14 post-Soviet countries in the
period from 1996 to 2019, it is shown that the impact of globalization on economic growth is positive and
statistically significant. In addition, the paper discusses the influence of the economic, political and social
indices, which are included in the globalization index, on the Georgian economy. According to the time series
analysis, the economic globalization index has a positive and statistically significant effect on the economic
growth in Georgia, while the influence of the political and social globalization indices is statistically
insignificant.
Description
1. მექვაბი שვილი, ე. (2021). ეკონომიკის გლობალიზაციის პარადოქსები. VI საერთა שორისო
სამეცნიერო კონფერენცია: „გლობალიზაციის გამოწვევები ეკონომიკასა და ბიზნეს שი“, (გვ.
215-221).
2. Chang, C. P., & Lee, C. C. (2010). Globalization and Economic Growth: A Political Economy Analysis for
OECD countries. Global Economic Review, 39, 151-173.
3. Dreher, A. (2006). Does Globalization Affect Growth? Evidence from a new Index of Globalization.
Applied Economics, 38, 1091-1110.
4. Gygli, S., Haelg, F., Potrafke, N., & Sturm , J. E. (2019). The KOF Globalisation Index – revisited. Review of
International Organizations.
5. Kilic, C. (2015). Effect of globalization on economic growth: a panel data analysis for developing
countries. Economic Insights-Trends and Challenges, 14, 1-14.
6. Kılıçarslan, Z., & Dumrul, Y. (2015). The Impact of Globalization on Economic Growth: Empirical Evidence
from the Turkey. International Journal of Economics and Financial Issues, 115-123.
7. Olimpia, N., & Stela, D. (2017). IMPACT OF GLOBALISATION ON ECONOMIC GROWTH IN ROMANIA: AN
EMPIRICAL ANALYSIS OF ITS ECONOMIC, SOCIAL AND POLITICAL DIMENSIONS. DE GRUYTER, 29-40.
8. Polask, W., & Sellner, R. (2011). Does Globalization Affect Regional Growth? Evidence for NUTS-2 Regions
in EU-27. DANUBE, 4, 23-65.
9. Samimi, P., & Jenatabadi, H. S. (2014). Globalization and Economic Growth: Empirical Evidence on the
Role of Complementarities. PLoS ONE.
10. Van der Hoek, M. (2001). Post-Soviet Globalization. South African Journal of Economic and Management
Sciences.
11. Wooldridge, J. M. (2013). Introductory Econometrics: A Modern Approach.
12. World Trade Organization (WTO), (2008). World Trade Report 2008 Trade in A Globalizing World, World
Trade Report.
Keywords
გლობალიზაცია, პოსტსაბჭოთა ქვეყნების ეკონომიკური ზრდა, გლობალიზაციის ინდექსი
Citation
VII International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2022, pp. 135-142