DOES GLOBALIZATION REDUCE POVERTY AT EACH LEVEL OF DEVELOPMENT? - SENSITIVITY TO POVERTY LINES
Year 2024,
, 195 - 220, 27.06.2024
Raziye Selim
,
Gizem Kaya
Abstract
This paper aims to estimate the effect of globalization on poverty by using alternative poverty lines, namely the World Bank’s $ 3.10-a-day poverty approach and national poverty line in comparison with the World Bank’s $ 1.90-a-day absolute poverty approach. The data covers 176 countries for the 2005-2018 period, and the methodology is based on heterogeneous panel data analysis. According to the results, globalization reduces absolute poverty in the least developed and developing countries. Moreover, the negative effect is found as significant only for the least developed countries in terms of national poverty. Lastly, globalization does not reduce poverty in developed countries.
References
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between trade liberalization and poverty reduction: A case for Pakistan. The Lahore Journal of Economics,
12(1), 99-118.
- Akoum, I. F. (2008). Globalization, growth, and poverty: the missing link. International Journal of Social Economics,
35(4), 226-238.
- Alesina, A., & Perotti, R. (1996). Income distribution, political instability, and investment. European Economic Review,
40(6), 1203-1228.
- Alesina, A., & Rodrik, D. (1994). Distributive Politics and Economic Growth. The Quarterly Journal of Economics,
109(2), 465-490.
- Bannister G. J. & K. Thugge (2001). International trade and poverty alleviation. IMF Working Papers, WP/01/54.
- Bardhan, P. (2007). Globalization and rural poverty. In the Impact of Globalization on the World’s Poor. Palgrave
Macmillan, London.
- Ben Naceur, S., & Zhang, R. (2016). Financial development, inequality and poverty: some international evidence. IMF Working Papers, WP/16/32.
- Bergh, A., & Nilsson, T. (2014). Is globalization reducing absolute poverty? World Development, 62, 42-61.
- Bergh, A., Mirkina, I., & Nilsson, T. (2016). Do the poor benefit from globalization regardless of institutional quality?.
Applied Economics Letters, 23(10), 708-712.
- Bourguignon, F. (2004). The poverty-growth-inequality triangle. ICRIER Working Papers, No. 125.
- Cain, J., Hasan, R., & Mitra, D. (2012). Trade liberalization and poverty reduction: New evidence from Indian states.
In J. Bhagwati, & A. Panagariya (Eds.), India’s reforms: How they produced inclusive growth, (pp. 91-169),
Oxford, NewYork.
- Clarke, G. R. (1995). More evidence on income distribution and growth. Journal of Development Economics, 47(2),
403-427.
- Dartanto, T., & Otsubo, S. (2013). Measurements and determinants of multifaceted Poverty: Absolute, relative, and
subjective poverty in Indonesia. JICA-RI Working Papers, No.54.
- Deaton, A. (1995). Data and econometric tools for development analysis. In J. Behrman, & T. N. Srinivasan (Eds.),
Handbook of development economics, (pp. 1785–1882) (Vol. 3A). Amsterdam and New York: Elsevier, North-
Holland.
- Deaton, A. (2002). Is world poverty falling?. Finance and Development, 39(2), 4-7.
- Deininger, K., & Squire, L. (1996). A New Data Set Measuring Income Inequality. The World Bank Economic Review,
10(3), 565-591.
- Deyshappria, R. (2018). Globalization-poverty nexuses: Evidences from cross-country analysis. Empirical Economic
Review, 1(1), 24-48.
- Dicken, P. (2015). Global shift: Mapping the changing contours of the world economy. Seventh Edition, SAGE
Publications Ltd, London.
- Dollar, D., & Kraay, A. (2004). Trade, growth, and poverty. The Economic Journal, 114(493), F22-F49.
- Dreher, A., Gaston, N., & Martens, P. (2008). Measuring globalization — Gauging its consequences. Springer, New York.
- Easterly, W., & Fischer, S. (1999). Inflation and the Poor. Policy Research Working Papers, The World Bank.
- Emek, Ö. F., & Tatoğlu, F. Y. (2020). Gelir Eşitsizliği ile Enflasyon İlişkisinin Gelişmişlik Düzeyine Göre Heterojen
Panel Veri Modelleri ile Analizi. SGD-Sosyal Güvenlik Dergisi, 10(2), 301-312.
- Fighini, P., & Santarelli, E. (2002). Does globalization reduce poverty? Some empirical evidence for the developing
countries. Quaderni-Working Papers DSE, No. 459.
- Figini, P., & Santarelli, E. (2006). Openness, economic reforms, and poverty: Globalization in developing countries.
The Journal of Developing Areas, 129-151.
- Frankel, J. A., & Romer, D. H. (1999). Does trade cause growth? American Economic Review, 89(3), 379-399.
- Galor, O. (2000). Income distribution and the process of development. European Economic Review, 44(4-6), 706-712.
- Gnangnon, S. K. (2019). Does multilateral trade liberalization help reduce poverty in developing countries?. Oxford
Development Studies, 47(4), 435-451.
- Guan, X. (1995). Poverty and anti‐poverty programmes in rural china since the mid‐1980s. Social Policy &
Administration, 29(3), 204-227.
- Ha, E., & Cain, N. L. (2017). Who governs or how they govern: Testing the impact of democracy, ideology and
globalization on the wellbeing of the poor. The Social Science Journal, 54(3), 271-286.
- Halter, D., Oechslin, M., & Zweimüller, J. (2014). Inequality and growth: the neglected time dimension. Journal of
economic growth, 19(1), 81-104.
- Harrison, A. (1996). Openness and growth: A time-series, cross-country analysis for developing countries. Journal of Development Economics, 48(2), 419-447.
- Hasan, R., Quibria, M. G., & Kim, Y. (2003). Poverty and economic freedom: Evidence from cross-country data. East-
West Center Working Papers, Economic Series, No:60.
- Hassan, M. S., Bukhari, S., & Arshed, N. (2020). Competitiveness, governance and globalization: What matters for
poverty alleviation?. Environment, Development and Sustainability, 22(4), 3491-3518.
- Heshmati A. (2007). The relationship between income inequality, poverty and globalization. In M. Nissanke, & E.
Thorbecke (Eds.), The Impact of Globalization on the World’s Poor. Studies in Development Economics and
Policy. Palgrave Macmillan, London. https://doi.org/10.1057/978.023.0625501_3.
- Herzer, D., & Vollmer, S. (2012). Inequality and growth: evidence from panel cointegration. The Journal of Economic
Inequality, 10(4), 489-503.
- ILO (1996). Globalization of the footwear, textiles, and clothing industries. ILO, Geneva.
- Janvry, A. D., & Sadoulet, E. (2000). Growth, poverty, and inequality in Latin America: A causal analysis, 1970–94.
Review of Income and Wealth, 46(3), 267-287.
- Jenkins, R. (2007). Globalization, production and poverty. In the Impact of Globalization on the World’s Poor. Palgrave Macmillan, London.
- Judge, G. G., Griffiths, W. E., Hill, R. C., Lütkepohl, H., & Lee, T. C. (1991). The Theory and Practice Of Econometrics
(Vol. 49). John wiley & sons.
- Kedir, A. M., & McKay, A. (2005). Chronic poverty in urban Ethiopia: Panel data evidence. International Planning
Studies, 10(1), 49-67.
- Khan, F. N., & Majeed, M. T. (2018). Globalization and poverty nexus: A panel data analysis. Forman Journal of
Economic Studies, 14.
- Khan, R. E. A., & Bashir, H. N. (2012). Trade, poverty and inequality nexus: the case of Pakistan. World Applied
Sciences Journal, 18(5), 722-726.
- Khan, R. E. A., & Bashir, N. (2011). Trade liberalization, poverty and inequality nexus: A case study of India. Asian
Economic and Financial Review, 1(3), 114-119.
- Kis-Katos, K., & Sparrow, R. (2015). Poverty, labor markets and trade liberalization in Indonesia. Journal of
Development Economics, 117, 94-106.
- Kraay, A., & Dollar, D. (2001). Trade, growth, and poverty. Policy Research Working Papers, The World Bank.
Kaufmann, D. (2007). The worldwide governance indicators project: answering the critics (Vol. 4149). World Bank
Publications.
- Le Goff, M., & Singh, R. J. (2013). Does trade reduce poverty? A view from Africa. Policy Research Working Papers,
The World Bank.
- Lucas, R. E. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-42.
- Neutel, M., & Heshmati, A. (2006). Globalization, inequality and poverty relationships: a cross country evidence. IZA
Discussion Papers, No. 2223.
- Nissanke, M., & Thorbecke, E. (2010). Globalization, poverty, and inequality in Latin America: Findings from case
studies. World Development, 38(6), 797-802.
- Nyarkoh, J.B. (2017). Modelling trade liberalisation-poverty nexus for Ghana. MPRA Paper, No. 76209.
- Osinubi, T.T. (2020). The role of income inequality in the globalisation-poverty nexus: Empirical evidence from mint
countries. Ilorin Journal of Economic Policy, 7(2), 67-89.
- Perotti, R. (1996). Growth, Income Distribution, and Democracy: What the Data Say. Journal of Economic Growth,
1(2), 149-187.
- Persson, T., & Tabellini, G. (1994). Is Inequality Harmful for Growth? The American Economic Review, 84(3), 600-621.
- Pradhan, B. K., & Mahesh, M. (2014). Impact of trade openness on poverty: A panel data analysis of a set of developing countries. Economics Bulletin, 34(4), 2208-2219.
- Ravallion, M. (2003). The debate on globalization, poverty and inequality: why measurement matters. International Affairs, 79(4), 739-753.
- Ravallion, M., & Chen, S. (2003). Measuring pro-poor growth. Economics Letters, 78(1), 93-99.
- Roine, J., Vlachos, J., & Waldenström, D. (2009). The long-run determinants of inequality: What can we learn from
top income data?. Journal of Public Economics, 93(7-8), 974-988.
- Rosenthal, G. (1996). On poverty and inequality in Latin America. Journal of Interamerican Studies and World Affairs, 38(2-3), 15-37.
- Sachs, J. D., & Warner, A. M. (1995). Natural resource abundance and economic growth. National Bureau of Economic Research, No. w5398.
- Salahuddin, M., Vink, N., Ralph, N., & Gow, J. (2020). Globalization, poverty and corruption: Retarding progress in
South Africa. Development Southern Africa, 37(4), 617-643.
- Santos-Paulino, A. U. (2012). Trade, income distribution and poverty in developing countries: A survey. United
Nations Conference on Trade and Development, Discussion Papers, No. 207.
- Santos‐Paulino, A., & Thirlwall, A. P. (2004). The impact of trade liberalization on exports, imports and the balance of payments of developing countries. The Economic Journal, 114(493), F50-F72.
- Siddiqui, K. (2017). Globalization, trade liberalization and the issues of economic diversification in the developing
countries. Journal of Business & Economic Policy, 4(4), 30-43.
- Singh, R. J., & Huang, Y. (2015). Financial deepening, property rights, and poverty: Evidence from Sub-Saharan
Africa. Journal of Banking and Financial Economics, 1,(3), 130-151.
- Stiglitz, J., (1999). The World’s war on poverty has yet to be won. Retrieved from http://www.nytimes.com/1999/04/28/
opinion/28iht-edstiglitz.t.html?pagewanted=1. Accessed November 9, 2023.
- Stiglitz, J. (2002). Globalization and its Discontents, Penguin Books, Harmondsworth.
- Swamy, P. A. V. B. 1970. Efficient inference in a random coefficient regression model. Econometrica 38: 311–323.
https://doi.org/10.2307/1913012.
- Swamy, P. (1971). Statistical Inference in Random Coefficient Regression Models. New York: Springer.
- Trabelsi, M. A., & Liouane, N. (2013). Trade liberalization and fight against poverty. MPRA Paper, No. 81206.
- Tüzüntürk, S. (2010). Panel veri modellerinin tahmininde parametre heterojenliğinin önemi: geleneksel Phillips eğrisi üzerine bir uygulama. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 21(2), 1-14.
- Tsai, P. L., & Huang, C. H. (2007). Openness, growth and poverty: The case of Taiwan. World Development, 35(11),
1858-1871.
- United Nations (1997). Human development report 1997. Retrieved from http://hdr.undp.org/sites/default/files/
reports/258/hdr_1997_en_complete_nostats.pdf. Accessed November 11, 2023.
- United Nations (2017). World economic situation and prospects. Retrieved from https://www.un.org/development/
desa/dpad/wp-content/uploads/sites/45/WESP2019_BOOK-ANNEX-en.pdf. Accessed July 9, 2023.
- Uzonwanne, M. C. (2018). Economic globalization and poverty reduction: A Nigerian perspective. Journal of
Economics and Political Economy, 5(3), 410-423.
- Vinueza, D. J. S., & McGee M.K. (2010). Trade and poverty in the developing world. Oshkosh Scholar, Volume V, 9-18,
2010.
- Wade, R. H. (2004). Is globalization reducing poverty and inequality? International Journal of Health Services, 34(3), 381-414.
- Winters, L. A. (2003). Trade and poverty: Is there a connection? In K. Sharma (Ed.), Trade Policy, Growth and Poverty
in Asian Developing Countries. Routledge.
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KÜRESELLEŞME HER GELİŞMİŞLİK DÜZEYİNDE YOKSULLUĞU AZALTIYOR MU? - YOKSULLUK SINIRLARINA DUYARLILIK
Year 2024,
, 195 - 220, 27.06.2024
Raziye Selim
,
Gizem Kaya
Abstract
Bu çalışma, Dünya Bankası'nın günde 3,10 Dolar yoksulluk yaklaşımı ve ulusal yoksulluk sınırı gibi alternatif yoksulluk sınırlarını kullanarak küreselleşmenin yoksulluk üzerindeki etkisini Dünya Bankası'nın günde 1,90 Dolar mutlak yoksulluk yaklaşımıyla karşılaştırmalı olarak tahmin etmeyi amaçlamaktadır. Çalışmanın verileri 2005-2018 dönemi için 176 ülke olarak geniş bir veri setini kapsamakta ve çalışmanın metodolojisi heterojen panel veri analizine dayanmaktadır. Çalışmanın sonucuna göre, küreselleşme az gelişmiş ülkelerde ve gelişmekte olan ülkelerde mutlak yoksulluğu azaltmaktadır. Buna ek olarak, küreselleşmenin yoksulluk üzerindeki negatif etkisi ulusal yoksulluk yaklaşımı ile sadece az gelişmiş ülkeler için anlamlı bulunmuştur. Son olarak, çalışmanın sonucunda göre küreselleşmenin gelişmiş ülkelerde yoksulluğu azaltmadığı bulunmuştur.
References
- Akmal, M. S., Ahmad, Q. M., Ahmad, M. H., & Butt, M. S. (2007). An empirical investigation of the relationship
between trade liberalization and poverty reduction: A case for Pakistan. The Lahore Journal of Economics,
12(1), 99-118.
- Akoum, I. F. (2008). Globalization, growth, and poverty: the missing link. International Journal of Social Economics,
35(4), 226-238.
- Alesina, A., & Perotti, R. (1996). Income distribution, political instability, and investment. European Economic Review,
40(6), 1203-1228.
- Alesina, A., & Rodrik, D. (1994). Distributive Politics and Economic Growth. The Quarterly Journal of Economics,
109(2), 465-490.
- Bannister G. J. & K. Thugge (2001). International trade and poverty alleviation. IMF Working Papers, WP/01/54.
- Bardhan, P. (2007). Globalization and rural poverty. In the Impact of Globalization on the World’s Poor. Palgrave
Macmillan, London.
- Ben Naceur, S., & Zhang, R. (2016). Financial development, inequality and poverty: some international evidence. IMF Working Papers, WP/16/32.
- Bergh, A., & Nilsson, T. (2014). Is globalization reducing absolute poverty? World Development, 62, 42-61.
- Bergh, A., Mirkina, I., & Nilsson, T. (2016). Do the poor benefit from globalization regardless of institutional quality?.
Applied Economics Letters, 23(10), 708-712.
- Bourguignon, F. (2004). The poverty-growth-inequality triangle. ICRIER Working Papers, No. 125.
- Cain, J., Hasan, R., & Mitra, D. (2012). Trade liberalization and poverty reduction: New evidence from Indian states.
In J. Bhagwati, & A. Panagariya (Eds.), India’s reforms: How they produced inclusive growth, (pp. 91-169),
Oxford, NewYork.
- Clarke, G. R. (1995). More evidence on income distribution and growth. Journal of Development Economics, 47(2),
403-427.
- Dartanto, T., & Otsubo, S. (2013). Measurements and determinants of multifaceted Poverty: Absolute, relative, and
subjective poverty in Indonesia. JICA-RI Working Papers, No.54.
- Deaton, A. (1995). Data and econometric tools for development analysis. In J. Behrman, & T. N. Srinivasan (Eds.),
Handbook of development economics, (pp. 1785–1882) (Vol. 3A). Amsterdam and New York: Elsevier, North-
Holland.
- Deaton, A. (2002). Is world poverty falling?. Finance and Development, 39(2), 4-7.
- Deininger, K., & Squire, L. (1996). A New Data Set Measuring Income Inequality. The World Bank Economic Review,
10(3), 565-591.
- Deyshappria, R. (2018). Globalization-poverty nexuses: Evidences from cross-country analysis. Empirical Economic
Review, 1(1), 24-48.
- Dicken, P. (2015). Global shift: Mapping the changing contours of the world economy. Seventh Edition, SAGE
Publications Ltd, London.
- Dollar, D., & Kraay, A. (2004). Trade, growth, and poverty. The Economic Journal, 114(493), F22-F49.
- Dreher, A., Gaston, N., & Martens, P. (2008). Measuring globalization — Gauging its consequences. Springer, New York.
- Easterly, W., & Fischer, S. (1999). Inflation and the Poor. Policy Research Working Papers, The World Bank.
- Emek, Ö. F., & Tatoğlu, F. Y. (2020). Gelir Eşitsizliği ile Enflasyon İlişkisinin Gelişmişlik Düzeyine Göre Heterojen
Panel Veri Modelleri ile Analizi. SGD-Sosyal Güvenlik Dergisi, 10(2), 301-312.
- Fighini, P., & Santarelli, E. (2002). Does globalization reduce poverty? Some empirical evidence for the developing
countries. Quaderni-Working Papers DSE, No. 459.
- Figini, P., & Santarelli, E. (2006). Openness, economic reforms, and poverty: Globalization in developing countries.
The Journal of Developing Areas, 129-151.
- Frankel, J. A., & Romer, D. H. (1999). Does trade cause growth? American Economic Review, 89(3), 379-399.
- Galor, O. (2000). Income distribution and the process of development. European Economic Review, 44(4-6), 706-712.
- Gnangnon, S. K. (2019). Does multilateral trade liberalization help reduce poverty in developing countries?. Oxford
Development Studies, 47(4), 435-451.
- Guan, X. (1995). Poverty and anti‐poverty programmes in rural china since the mid‐1980s. Social Policy &
Administration, 29(3), 204-227.
- Ha, E., & Cain, N. L. (2017). Who governs or how they govern: Testing the impact of democracy, ideology and
globalization on the wellbeing of the poor. The Social Science Journal, 54(3), 271-286.
- Halter, D., Oechslin, M., & Zweimüller, J. (2014). Inequality and growth: the neglected time dimension. Journal of
economic growth, 19(1), 81-104.
- Harrison, A. (1996). Openness and growth: A time-series, cross-country analysis for developing countries. Journal of Development Economics, 48(2), 419-447.
- Hasan, R., Quibria, M. G., & Kim, Y. (2003). Poverty and economic freedom: Evidence from cross-country data. East-
West Center Working Papers, Economic Series, No:60.
- Hassan, M. S., Bukhari, S., & Arshed, N. (2020). Competitiveness, governance and globalization: What matters for
poverty alleviation?. Environment, Development and Sustainability, 22(4), 3491-3518.
- Heshmati A. (2007). The relationship between income inequality, poverty and globalization. In M. Nissanke, & E.
Thorbecke (Eds.), The Impact of Globalization on the World’s Poor. Studies in Development Economics and
Policy. Palgrave Macmillan, London. https://doi.org/10.1057/978.023.0625501_3.
- Herzer, D., & Vollmer, S. (2012). Inequality and growth: evidence from panel cointegration. The Journal of Economic
Inequality, 10(4), 489-503.
- ILO (1996). Globalization of the footwear, textiles, and clothing industries. ILO, Geneva.
- Janvry, A. D., & Sadoulet, E. (2000). Growth, poverty, and inequality in Latin America: A causal analysis, 1970–94.
Review of Income and Wealth, 46(3), 267-287.
- Jenkins, R. (2007). Globalization, production and poverty. In the Impact of Globalization on the World’s Poor. Palgrave Macmillan, London.
- Judge, G. G., Griffiths, W. E., Hill, R. C., Lütkepohl, H., & Lee, T. C. (1991). The Theory and Practice Of Econometrics
(Vol. 49). John wiley & sons.
- Kedir, A. M., & McKay, A. (2005). Chronic poverty in urban Ethiopia: Panel data evidence. International Planning
Studies, 10(1), 49-67.
- Khan, F. N., & Majeed, M. T. (2018). Globalization and poverty nexus: A panel data analysis. Forman Journal of
Economic Studies, 14.
- Khan, R. E. A., & Bashir, H. N. (2012). Trade, poverty and inequality nexus: the case of Pakistan. World Applied
Sciences Journal, 18(5), 722-726.
- Khan, R. E. A., & Bashir, N. (2011). Trade liberalization, poverty and inequality nexus: A case study of India. Asian
Economic and Financial Review, 1(3), 114-119.
- Kis-Katos, K., & Sparrow, R. (2015). Poverty, labor markets and trade liberalization in Indonesia. Journal of
Development Economics, 117, 94-106.
- Kraay, A., & Dollar, D. (2001). Trade, growth, and poverty. Policy Research Working Papers, The World Bank.
Kaufmann, D. (2007). The worldwide governance indicators project: answering the critics (Vol. 4149). World Bank
Publications.
- Le Goff, M., & Singh, R. J. (2013). Does trade reduce poverty? A view from Africa. Policy Research Working Papers,
The World Bank.
- Lucas, R. E. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-42.
- Neutel, M., & Heshmati, A. (2006). Globalization, inequality and poverty relationships: a cross country evidence. IZA
Discussion Papers, No. 2223.
- Nissanke, M., & Thorbecke, E. (2010). Globalization, poverty, and inequality in Latin America: Findings from case
studies. World Development, 38(6), 797-802.
- Nyarkoh, J.B. (2017). Modelling trade liberalisation-poverty nexus for Ghana. MPRA Paper, No. 76209.
- Osinubi, T.T. (2020). The role of income inequality in the globalisation-poverty nexus: Empirical evidence from mint
countries. Ilorin Journal of Economic Policy, 7(2), 67-89.
- Perotti, R. (1996). Growth, Income Distribution, and Democracy: What the Data Say. Journal of Economic Growth,
1(2), 149-187.
- Persson, T., & Tabellini, G. (1994). Is Inequality Harmful for Growth? The American Economic Review, 84(3), 600-621.
- Pradhan, B. K., & Mahesh, M. (2014). Impact of trade openness on poverty: A panel data analysis of a set of developing countries. Economics Bulletin, 34(4), 2208-2219.
- Ravallion, M. (2003). The debate on globalization, poverty and inequality: why measurement matters. International Affairs, 79(4), 739-753.
- Ravallion, M., & Chen, S. (2003). Measuring pro-poor growth. Economics Letters, 78(1), 93-99.
- Roine, J., Vlachos, J., & Waldenström, D. (2009). The long-run determinants of inequality: What can we learn from
top income data?. Journal of Public Economics, 93(7-8), 974-988.
- Rosenthal, G. (1996). On poverty and inequality in Latin America. Journal of Interamerican Studies and World Affairs, 38(2-3), 15-37.
- Sachs, J. D., & Warner, A. M. (1995). Natural resource abundance and economic growth. National Bureau of Economic Research, No. w5398.
- Salahuddin, M., Vink, N., Ralph, N., & Gow, J. (2020). Globalization, poverty and corruption: Retarding progress in
South Africa. Development Southern Africa, 37(4), 617-643.
- Santos-Paulino, A. U. (2012). Trade, income distribution and poverty in developing countries: A survey. United
Nations Conference on Trade and Development, Discussion Papers, No. 207.
- Santos‐Paulino, A., & Thirlwall, A. P. (2004). The impact of trade liberalization on exports, imports and the balance of payments of developing countries. The Economic Journal, 114(493), F50-F72.
- Siddiqui, K. (2017). Globalization, trade liberalization and the issues of economic diversification in the developing
countries. Journal of Business & Economic Policy, 4(4), 30-43.
- Singh, R. J., & Huang, Y. (2015). Financial deepening, property rights, and poverty: Evidence from Sub-Saharan
Africa. Journal of Banking and Financial Economics, 1,(3), 130-151.
- Stiglitz, J., (1999). The World’s war on poverty has yet to be won. Retrieved from http://www.nytimes.com/1999/04/28/
opinion/28iht-edstiglitz.t.html?pagewanted=1. Accessed November 9, 2023.
- Stiglitz, J. (2002). Globalization and its Discontents, Penguin Books, Harmondsworth.
- Swamy, P. A. V. B. 1970. Efficient inference in a random coefficient regression model. Econometrica 38: 311–323.
https://doi.org/10.2307/1913012.
- Swamy, P. (1971). Statistical Inference in Random Coefficient Regression Models. New York: Springer.
- Trabelsi, M. A., & Liouane, N. (2013). Trade liberalization and fight against poverty. MPRA Paper, No. 81206.
- Tüzüntürk, S. (2010). Panel veri modellerinin tahmininde parametre heterojenliğinin önemi: geleneksel Phillips eğrisi üzerine bir uygulama. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 21(2), 1-14.
- Tsai, P. L., & Huang, C. H. (2007). Openness, growth and poverty: The case of Taiwan. World Development, 35(11),
1858-1871.
- United Nations (1997). Human development report 1997. Retrieved from http://hdr.undp.org/sites/default/files/
reports/258/hdr_1997_en_complete_nostats.pdf. Accessed November 11, 2023.
- United Nations (2017). World economic situation and prospects. Retrieved from https://www.un.org/development/
desa/dpad/wp-content/uploads/sites/45/WESP2019_BOOK-ANNEX-en.pdf. Accessed July 9, 2023.
- Uzonwanne, M. C. (2018). Economic globalization and poverty reduction: A Nigerian perspective. Journal of
Economics and Political Economy, 5(3), 410-423.
- Vinueza, D. J. S., & McGee M.K. (2010). Trade and poverty in the developing world. Oshkosh Scholar, Volume V, 9-18,
2010.
- Wade, R. H. (2004). Is globalization reducing poverty and inequality? International Journal of Health Services, 34(3), 381-414.
- Winters, L. A. (2003). Trade and poverty: Is there a connection? In K. Sharma (Ed.), Trade Policy, Growth and Poverty
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