The Relationship Between Globalization and Economic Growth: Panel Cointegration Analysis for Organization of Islamic Cooperation Countries

Year 2022, Volume: 7 Issue: 18, 298 - 315, 30.06.2022

Çiğdem Çadırcı , Levent Kaya

https://doi.org/10.25204/iktisad.1088180

Abstract

In this study, the relations of economic globalization, social globalization and political globalization, which are the sub-components of globalization, with GDP per capita, which is a measure of economic growth, were examined separately in the member countries of the Organization of Islamic Cooperation. First of all, according to the CADF for the units under the cross-sectional dependence and the CIPS unit root tests for the panel in general, it has been seen that all series are not stationary. According to the structural break panel cointegration analysis, a cointegration relationship was found between the sub-components of globalization and economic growth. The causality relationship between economic growth and the sub-components of globalization was investigated and a one-way causality relationship from economic globalization to economic growth and a two-way causality relationship between social globalization and economic growth were found. There is no causality relationship found between political globalization and economic growth.

Keywords

Globalization, Economic Growth, Panel Cointegration, Panel Causality

Küreselleşme ve Ekonomik Büyüme İlişkisi: İslam İşbirliği Teşkilatı Ülkeleri İçin Panel Eşbütünleşme Analizi

Abstract

Bu çalışmada İslam İşbirliği Teşkilatına üye ülkelerde küreselleşmenin alt bileşenleri olan ekonomik küreselleşme, sosyal küreselleşme ve politik küreselleşmenin ayrı ayrı olarak ekonomik büyümenin bir ölçütü olan kişi başına GSYİH ile ilişkileri incelenmiştir. Öncelikle yatay kesit bağımlılığı altında birimler için yapılan CADF ve panelin geneli için yapılan CIPS birim kök testlerine göre bütün serilerin durağan olmadığı görülmüştür. Yapısal kırılmalı panel eşbütünleşme analizine göre küreselleşmenin alt bileşenleri ile ekonomik büyüme arasında eşbütünleşme ilişkisi tespit edilmiştir. Ekonomik büyüme ile küreselleşmenin alt bileşenleri arasındaki nedensellik ilişkisi araştırılmış ve ekonomik küreselleşmeden ekonomik büyümeye doğru tek yönlü nedensellik ilişkisi, sosyal küreselleşme ile ekonomik büyüme arasında iki yönlü nedensellik ilişkisi bulunmuştur. Politik küreselleşme ile ekonomik büyüme arasında herhangi bir nedensellik ilişkisi bulunamamıştır.

Keywords

Küreselleşme, Ekonomik Büyüme, Panel Eşbütünleşme, Panel Nedensellik

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