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

Year 2023, , 717 - 743, 30.12.2023
https://doi.org/10.26650/ISTJECON2023-1248345

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.

JEL Classification : F43 , F62 , O47

References

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Year 2023, , 717 - 743, 30.12.2023
https://doi.org/10.26650/ISTJECON2023-1248345

Abstract

References

  • Adesoye, A.A., Ajike, E.O. and Maku, O.E. (2015). Economic globalization and economic growth in the developing economies: A case of Nigerian economy. International Journal of Economics, Commerce and Management, 3(7), 340-355. google scholar
  • Afzal, M. (2007). The impact of globalization on economic growth of Pakistan: An error-correction modelling. The Pakistan Development Review, 46(4), 723-734. google scholar
  • Andersen, T. and Herbertsson, T. (2005). Quantifying globalization. Applied Economics, 37(10), 1089-1098. google scholar
  • Apaydin, Ş. (2019). Türkiye’de İktisadi Küreselleşmenin Büyüme Üzerindeki Yapısal ve Tarihsel Etkileri. Bitlis Eren Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Akademik Izduşum Dergisi, 4(1), 1-27. google scholar
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  • Hayaloglu, P., Kalayci, C. and Artan, S. (2015). Kuresellesme Farkli Gelir Grubundaki Ulkelerde Ekonomik Buyumeyi Nasil Etkilemektedir?. Eskisehir Osmangazi Universitesi İİBF Dergisi, 10(1), 119-152. google scholar
  • Hossain, M. S., Kibria, M. G. and Islam, M. S. (2018). Does Globalization Affect the Economic growth of Bangladesh? - An Econometric Analysis. Asian Economic and Financial Review, 8(12), 13841393. google scholar
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  • Johnston, J. and Dinardo, J. (1997). Econometric Methods, (4.ed). New York: The Mc Graw Hill Companies. google scholar
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  • Lockwood, B. and Redoano, M. (2005). CSGR Globalization Index: An Introductory Guide, Centre for Study of Globalization and Regionalization, Working Paper 155/04. google scholar
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  • Meraj, M. (2013). Impact of Globalization and Trade Openness on Economic Growth in Bangladesh. Ritsumeikan Journal of Asia Pacific Studies, 32, 40-50. google scholar
  • Mutascu, M. and Fleischer, A. M. (2011). Economic Growth and Globalization in Romania. World Applied Sciences Journal, 12(10), 1691-1697. google scholar
  • Nwakanma, P. C. and Ibe, R. C. (2014). Globalization and Economic Growth: An Econometric Dimension Drawing Evidence from Nigeria. International Review of Management and Business Research, 3(2), 771-778. google scholar
  • Ozel, H. A. (2012) Kuresellesme Surecinde Ticari ve Finansal Acikligin Ekonomik Buyume Uzerine Etkisi: Türkiye Ornegi. Yönetim Bilimleri Dergisi, 10(19), 21-43. google scholar
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  • Polat, C. and Peker, K.O. (2020). Kuresellesme ve Ekonomik Buyume Iliskisi: Türkiye Orneginde bir Değerlendirme. Insan ve Toplum Bilimleri Arastirmalari Dergisi, 9(5), 3988-4015. google scholar
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There are 74 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section Research Article
Authors

Hamza Çeştepe 0000-0003-1541-5703

Havanur Ergün Tatar 0000-0002-4284-9083

Serdar Erdogan 0000-0001-8594-3929

Publication Date December 30, 2023
Submission Date February 6, 2023
Published in Issue Year 2023

Cite

APA Çeştepe, H., Ergün Tatar, H., & Erdogan, S. (2023). The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi, 73(2), 717-743. https://doi.org/10.26650/ISTJECON2023-1248345
AMA Çeştepe H, Ergün Tatar H, Erdogan S. The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi. December 2023;73(2):717-743. doi:10.26650/ISTJECON2023-1248345
Chicago Çeştepe, Hamza, Havanur Ergün Tatar, and Serdar Erdogan. “The Impact of Globalization With Its Different Aspects on Economic Growth: The Case of Turkey”. İstanbul İktisat Dergisi 73, no. 2 (December 2023): 717-43. https://doi.org/10.26650/ISTJECON2023-1248345.
EndNote Çeştepe H, Ergün Tatar H, Erdogan S (December 1, 2023) The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi 73 2 717–743.
IEEE H. Çeştepe, H. Ergün Tatar, and S. Erdogan, “The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey”, İstanbul İktisat Dergisi, vol. 73, no. 2, pp. 717–743, 2023, doi: 10.26650/ISTJECON2023-1248345.
ISNAD Çeştepe, Hamza et al. “The Impact of Globalization With Its Different Aspects on Economic Growth: The Case of Turkey”. İstanbul İktisat Dergisi 73/2 (December 2023), 717-743. https://doi.org/10.26650/ISTJECON2023-1248345.
JAMA Çeştepe H, Ergün Tatar H, Erdogan S. The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi. 2023;73:717–743.
MLA Çeştepe, Hamza et al. “The Impact of Globalization With Its Different Aspects on Economic Growth: The Case of Turkey”. İstanbul İktisat Dergisi, vol. 73, no. 2, 2023, pp. 717-43, doi:10.26650/ISTJECON2023-1248345.
Vancouver Çeştepe H, Ergün Tatar H, Erdogan S. The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi. 2023;73(2):717-43.