FOREIGN THE IMPACT OF GLOBALIZATION ON ECONOMIC GROWTH IN TRANSITION COUNTRIES

• Authors: Petković Bojan
• Languages of publication: EN

Abstracts

EN

The paper analyses the impact of economic, social, and political components of globalization on the gross domestic product of transition countries. Available data from 1995 to 2018 were analysed for two groups of European transition countries, divided according to geographical criteria into Western Transition (WT) countries and Eastern Transition (ET) countries. Based on the results of the panel ARDL approach, it was shown that economic and social globalization positively impact gross domestic product in both groups of countries in the long-run. In contrast, political globalization hurts the gross domestic product. Dumitrescu and Hurlin’s causality test showed that in WT countries, there is a significant causality from social globalization to gross domestic product and from social globalization to political globalization. In ET countries, there is significant causality from political globalization to economic and social globalization, while economic globalization causes gross domestic product.

Keywords

EN

ECONOMIC GROWTH; GLOBALIZATION,; ARDL APPROACH,; TRANSITION ECONOMIES

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2023
• Volume: 71
• Issue: 8-9
• Pages: 560 – 575

Contributors

author

Petković Bojan

• University of Montenegro, Faculty of Economics, Cetinjski put 2, 81000 Podgorica, Montenegro

• https://orcid.org/0000-0001-9220-9327

Identifiers

DOI

https://doi.org/10.31577/ekoncas.2023.08-09.04