Mevcut küresel düzen, ABD-Çin ticaret savaşı, Avrupa Birliği’ndeki dağılma, mülteci krizi ve son olarak pandemi gibi bir dizi faktör ile küreselleşme sürecinin yavaşladığını göstermektedir. Ancak bu durum geçmişte de yaşanmıştır (örneğin sömürgeleştirme, Büyük Buhran, Soğuk Savaş). Dünya bazı dönemlerde küreselleşirken (Küreselleşme I, II ve III), bazı dönemlerde küreselleşmeden uzaklaşmıştır (Küreselleşmeden Uzaklaşma I ve II). İçinde bulunduğumuz on yılın küreselleşmeden çıkıp çıkmadığı ve bunun etkileri üzerine tartışmalar bulunmaktadır. Bu argümanlar ışığında bu çalışma, 2000-2019 dönemi için 34 OECD ülkesinde küreselleşmeden uzaklaşmanın ekonomik büyüme üzerindeki etkilerini çeşitli boyutlarıyla incelemeyi amaçlamaktadır. Panel veri analizi sonuçları, ticari ve sosyal küreselleşmeden uzaklaşmanın ekonomik büyümeyi olumsuz yönde etkilediğini, finansal küreselleşmeden uzaklaşmanın ve sosyal küreselleşmeden uzaklaşmanın alt boyutlarının ise olumlu yönde etkilediğini göstermektedir. Ek olarak, çalışma, politik küreselleşmenin ekonomik büyüme ile anlamlı bir şekilde ilişkili olmadığını ortaya koymakta ve ulaşılan bulgular, küreselleşmenin mevcut durumu ve bunun ekonomik kalkınma üzerindeki etkileri hakkında devam eden tartışmalara katkıda bulunmaktadır.
Abakumova, J. and Primierova, O. (2018). Globalization, growth and inequality: Testing causality and asymmetries. Ekonomicko-Manazerske Spektrum, 12(2), 83–95. https://doi.org/10.26552/ems.2018.2.83-95
Alesina, A., Spolaore, E. and Wacziarg, R. (2000). Economic integration and political disintegration. American Economic Review, 90(5), 1276–1296. https://doi.org/10.1257/AER.90.5.1276
Amini, S., Delgado, M.S., Henderson, D.J. and Parmeter, C.F. (2012). Fixed vs random: The Hausman test four decades later. Advances in Econometrics, 29, 479–513. https://doi.org/10.1108/S0731-9053(2012)0000029021
Apergis, N. and Poufinas, T. (2020). The role of insurance growth in economic growth: Fresh evidence from a panel of OECD countries. The North American Journal of Economics and Finance, 53, 101217. https://doi.org/10.1016/J.NAJEF.2020.101217
Barone, B. and Bendini, R. (2015). Protectionism in the G20. Retrieved from https://www.europarl.europa.eu/RegData/etudes/STUD/2015/549028/EXPO_STU(2015)549028_EN.pdf
Bataka, H. (2019). De jure, De facto globalization and economic growth in Sub-Saharan Africa. Journal of Economic Integration, 34(1), 133–158. Retrieved from https://www.jstor.org/
Bell, A. and Jones, K. (2015). Explaining fixed effects: Random effects modeling of time-series cross-sectional and panel data. Political Science Research and Methods, 3(1), 133–153. https://doi.org/10.1017/PSRM.2014.7
Bello, W. (2004). Deglobalization: Ideas for a new world economy. London: Zed Books.
Chang, C.P. and Lee, C.C. (2010). Globalization and economic growth: A political economy analysis for OECD countries. Perspectives on East Asian Economies and Industries, 39(2), 151–173. https://doi.org/10.1080/1226508X.2010.483835
Choi, W.J. and Pyun, J.H. (2019). Catching up by deglobalization: Capital account policy and economic growth (SSRN Working Paper No. 3516385). https://doi.org/10.2139/SSRN.3516385
Clemens, M.A. and Williamson, J.G. (2004). Why did the tariff-growth correlation change after 1950? Journal of Economic Growth, 9(1), 5–46. https://doi.org/10.1023/B:JOEG.0000023015.44856.a9
Dollar, D. (2005). Globalization, poverty, and inequality since 1980. The World Bank Research Observer, 20(2), 145-175. https://doi.org/10.1093/wbro/lki008
Dreher, A. (2006). Does globalization affect growth? Evidence from a new index of globalization. Applied Economics, 38(10), 1091–1110. https://doi.org/10.1080/00036840500392078
Fischer, S. (1998). Capital account liberalization and the role of the IMF (Essay in International Finance No. 207). Retrieved from https://ies.princeton.edu/pdf/E207.pdf
Guo, M., Lu, L., Sheng, L. and Yu, M. (2018). The day after tomorrow: Evaluating the burden of Trump’s trade war. Asian Economic Papers, 17(1), 101–120. https://doi.org/10.1162/asep_a_00592
Gurgul, H. and Lach, L. (2014). Globalization and economic growth: Evidence from two decades of transition in CEE. Economic Modelling, 36, 99–107. https://doi.org/10.1016/J.ECONMOD.2013.09.022
Guttal, S. (2007). Globalisation. Development in Practice, 17(4-5), 523–531. https://doi.org/10.1080/09614520701469492
Gygli, S., Haelg, F., Potrafke, N. and Sturm, J.-E. (2019). The KOF globalisation index – revisited. The Review of International Organizations, 14(3), 543–574. https://doi.org/10.1007/s11558-019-09344-2
Harpold, T. and Philip, K. (2000). Of bugs and rats: Cyber-cleanliness, cyber-squalor, and the fantasy-spaces of informational globalization. Postmodern Culture, 11(1), 1–21. https://doi.org/10.1353/PMC.2000.0033
Hasan, M.A. (2019). Does globalization accelerate economic growth? South Asian experience using panel data. Journal of Economic Structures, 8(1), 26. https://doi.org/10.1186/s40008-019-0159-x
Hillebrand, E.E. (2010). Deglobalization scenarios: Who wins? Who loses? Global Economy Journal, 10(2), 1850197. https://doi.org/10.2202/1524-5861.1611
Hillman, A.L. (2005). Globalization and the political economy of international trade policy. In S. Jayasuriya (Ed.), Trade policy reforms and development: Essays in honour of Peter Lloyd: Vol.II (pp. 3–22). Cheltenham: Edward Elgar Publishing. https://doi.org/10.4337/9781845425654.00007
Hoekman, B.M. (2015). The global trade slowdown: A new normal? UK: CEPR Press.
Hübler, M. and Herdecke, A. (2020). The US trade dispute: Blunt offense or rational strategy? Applied Economics Letters, 27(9), 690–696. https://doi.org/10.1080/13504851.2019.1644428
ICAEW. (2020). Shifting trends in global trade. Retrieved from https://www.icaew.com/insights/quarterly/quarterly-issue4/shifting-trends-in-global-trade
Ikpesu, F., Vincent, O., Dakare, O. and Nsiah, C. (2019). Growth effect of trade and investment in Sub-Saharan Africa countries: Empirical insight from panel corrected standard error (PCSE) technique. Cogent Economics and Finance, 7(1), 1607127. https://doi.org/10.1080/23322039.2019.1607127
IMF. (2008). Globalization: A brief overview. Retrieved from https://www.imf.org/external/np/exr/ib/2008/053008.htm
Irwin, D.A. (2002). Interpreting the tariff-growth correlation of the late 19th century. The American Economic Review, 92(2), 165–169. https://doi.org/10.1257/000282802320189186
James, H. (2018). Deglobalization: The rise of disembedded unilateralism. Annual Review of Financial Economics, 10(1), 219–237. https://doi.org/10.1146/annurev-financial-110217-022625
Karunaratne, N.D. (2012). The globalization-deglobalization policy conundrum. Modern Economy, 3(4), 373–383. https://doi.org/10.4236/me.2012.34048
Kilic, C. (2015). Effects of globalization on economic growth: Panel data analysis for developing countries. Economic Insights-Trends and Challenges, 67(1), 1–11. Retrieved from http://upg-bulletin-se.ro/
Kilicarslan, Z. and Dumrul, Y. (2018). The impact of globalization on economic growth: Empirical evidence from the Turkey. International Journal of Economics and Financial Issues, 8(5), 115–123. Retrieved from https://www.econjournals.com/
Kim, H.-M., Li, P. and Lee, Y.R. (2020). Observations of deglobalization against globalization and impacts on global business. International Trade, Politics and Development, 4(2), 83–103. https://doi.org/10.1108/ITPD-05-2020-0067
Kluver, R. and Fu, W. (2004). The cultural globalization index. Retrieved from https://foreignpolicy.com/2004/02/10/the-cultural-globalization-index/
Komolov, O. (2020). Deglobalization and the “Great Stagnation.” International Critical Thought, 10(3), 424–439. https://doi.org/10.1080/21598282.2020.1846582
Kose, M.A., Prasad, E., Rogoff, K. and Wei, S.J.J. (2009). Financial globalization: A reappraisal. IMF Staff Papers, 56(1), 8–62. https://doi.org/10.1057/imfsp.2008.36
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The current global landscape has been marked by a series of factors, such as the US-China trade war, disintegration in the European Union (EU), the refugee crisis, and the pandemic, which have impeded the process of globalization. However, similar situations have been experienced in the past, such as colonization, the Great Depression, and the Cold War. The world has experienced periods of globalization (Globalization I, II, and III) as well as periods of deglobalization (Deglobalization I and II). There have been discussions about whether the current decade is experiencing deglobalization and its effects. In this context, the present study aims to investigate the effects of deglobalization on economic growth in 34 OECD countries during the period 2000-2019, in various dimensions. Using panel data analysis, the results indicate that trade and social deglobalization have a negative impact on economic growth, while financial deglobalization and the subdimensions of social deglobalization have a positive influence on growth. Additionally, the study reveals that political globalization is not significantly associated with economic growth. These findings contribute to the ongoing debate on the current state of globalization and its effects on economic development.
Abakumova, J. and Primierova, O. (2018). Globalization, growth and inequality: Testing causality and asymmetries. Ekonomicko-Manazerske Spektrum, 12(2), 83–95. https://doi.org/10.26552/ems.2018.2.83-95
Alesina, A., Spolaore, E. and Wacziarg, R. (2000). Economic integration and political disintegration. American Economic Review, 90(5), 1276–1296. https://doi.org/10.1257/AER.90.5.1276
Amini, S., Delgado, M.S., Henderson, D.J. and Parmeter, C.F. (2012). Fixed vs random: The Hausman test four decades later. Advances in Econometrics, 29, 479–513. https://doi.org/10.1108/S0731-9053(2012)0000029021
Apergis, N. and Poufinas, T. (2020). The role of insurance growth in economic growth: Fresh evidence from a panel of OECD countries. The North American Journal of Economics and Finance, 53, 101217. https://doi.org/10.1016/J.NAJEF.2020.101217
Barone, B. and Bendini, R. (2015). Protectionism in the G20. Retrieved from https://www.europarl.europa.eu/RegData/etudes/STUD/2015/549028/EXPO_STU(2015)549028_EN.pdf
Bataka, H. (2019). De jure, De facto globalization and economic growth in Sub-Saharan Africa. Journal of Economic Integration, 34(1), 133–158. Retrieved from https://www.jstor.org/
Bell, A. and Jones, K. (2015). Explaining fixed effects: Random effects modeling of time-series cross-sectional and panel data. Political Science Research and Methods, 3(1), 133–153. https://doi.org/10.1017/PSRM.2014.7
Bello, W. (2004). Deglobalization: Ideas for a new world economy. London: Zed Books.
Chang, C.P. and Lee, C.C. (2010). Globalization and economic growth: A political economy analysis for OECD countries. Perspectives on East Asian Economies and Industries, 39(2), 151–173. https://doi.org/10.1080/1226508X.2010.483835
Choi, W.J. and Pyun, J.H. (2019). Catching up by deglobalization: Capital account policy and economic growth (SSRN Working Paper No. 3516385). https://doi.org/10.2139/SSRN.3516385
Clemens, M.A. and Williamson, J.G. (2004). Why did the tariff-growth correlation change after 1950? Journal of Economic Growth, 9(1), 5–46. https://doi.org/10.1023/B:JOEG.0000023015.44856.a9
Dollar, D. (2005). Globalization, poverty, and inequality since 1980. The World Bank Research Observer, 20(2), 145-175. https://doi.org/10.1093/wbro/lki008
Dreher, A. (2006). Does globalization affect growth? Evidence from a new index of globalization. Applied Economics, 38(10), 1091–1110. https://doi.org/10.1080/00036840500392078
Fischer, S. (1998). Capital account liberalization and the role of the IMF (Essay in International Finance No. 207). Retrieved from https://ies.princeton.edu/pdf/E207.pdf
Guo, M., Lu, L., Sheng, L. and Yu, M. (2018). The day after tomorrow: Evaluating the burden of Trump’s trade war. Asian Economic Papers, 17(1), 101–120. https://doi.org/10.1162/asep_a_00592
Gurgul, H. and Lach, L. (2014). Globalization and economic growth: Evidence from two decades of transition in CEE. Economic Modelling, 36, 99–107. https://doi.org/10.1016/J.ECONMOD.2013.09.022
Guttal, S. (2007). Globalisation. Development in Practice, 17(4-5), 523–531. https://doi.org/10.1080/09614520701469492
Gygli, S., Haelg, F., Potrafke, N. and Sturm, J.-E. (2019). The KOF globalisation index – revisited. The Review of International Organizations, 14(3), 543–574. https://doi.org/10.1007/s11558-019-09344-2
Harpold, T. and Philip, K. (2000). Of bugs and rats: Cyber-cleanliness, cyber-squalor, and the fantasy-spaces of informational globalization. Postmodern Culture, 11(1), 1–21. https://doi.org/10.1353/PMC.2000.0033
Hasan, M.A. (2019). Does globalization accelerate economic growth? South Asian experience using panel data. Journal of Economic Structures, 8(1), 26. https://doi.org/10.1186/s40008-019-0159-x
Hillebrand, E.E. (2010). Deglobalization scenarios: Who wins? Who loses? Global Economy Journal, 10(2), 1850197. https://doi.org/10.2202/1524-5861.1611
Hillman, A.L. (2005). Globalization and the political economy of international trade policy. In S. Jayasuriya (Ed.), Trade policy reforms and development: Essays in honour of Peter Lloyd: Vol.II (pp. 3–22). Cheltenham: Edward Elgar Publishing. https://doi.org/10.4337/9781845425654.00007
Hoekman, B.M. (2015). The global trade slowdown: A new normal? UK: CEPR Press.
Hübler, M. and Herdecke, A. (2020). The US trade dispute: Blunt offense or rational strategy? Applied Economics Letters, 27(9), 690–696. https://doi.org/10.1080/13504851.2019.1644428
ICAEW. (2020). Shifting trends in global trade. Retrieved from https://www.icaew.com/insights/quarterly/quarterly-issue4/shifting-trends-in-global-trade
Ikpesu, F., Vincent, O., Dakare, O. and Nsiah, C. (2019). Growth effect of trade and investment in Sub-Saharan Africa countries: Empirical insight from panel corrected standard error (PCSE) technique. Cogent Economics and Finance, 7(1), 1607127. https://doi.org/10.1080/23322039.2019.1607127
IMF. (2008). Globalization: A brief overview. Retrieved from https://www.imf.org/external/np/exr/ib/2008/053008.htm
Irwin, D.A. (2002). Interpreting the tariff-growth correlation of the late 19th century. The American Economic Review, 92(2), 165–169. https://doi.org/10.1257/000282802320189186
James, H. (2018). Deglobalization: The rise of disembedded unilateralism. Annual Review of Financial Economics, 10(1), 219–237. https://doi.org/10.1146/annurev-financial-110217-022625
Karunaratne, N.D. (2012). The globalization-deglobalization policy conundrum. Modern Economy, 3(4), 373–383. https://doi.org/10.4236/me.2012.34048
Kilic, C. (2015). Effects of globalization on economic growth: Panel data analysis for developing countries. Economic Insights-Trends and Challenges, 67(1), 1–11. Retrieved from http://upg-bulletin-se.ro/
Kilicarslan, Z. and Dumrul, Y. (2018). The impact of globalization on economic growth: Empirical evidence from the Turkey. International Journal of Economics and Financial Issues, 8(5), 115–123. Retrieved from https://www.econjournals.com/
Kim, H.-M., Li, P. and Lee, Y.R. (2020). Observations of deglobalization against globalization and impacts on global business. International Trade, Politics and Development, 4(2), 83–103. https://doi.org/10.1108/ITPD-05-2020-0067
Kluver, R. and Fu, W. (2004). The cultural globalization index. Retrieved from https://foreignpolicy.com/2004/02/10/the-cultural-globalization-index/
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