Globalization and post-soviet countries’ economic growth: empirical analysis (გლობალიზაცია და პოსტსაბჭოთა ქვეყნების ეკონომიკური ზრდა: ემპირიული ანალიზი)

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Ivane Javakhishvili Tbilisi State University Press
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.
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გლობალიზაცია, პოსტსაბჭოთა ქვეყნების ეკონომიკური ზრდა, გლობალიზაციის ინდექსი
VII International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2022, pp. 135-142