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Impacts of globalisation on economic growth in Europe Union countries

Author

Listed:
  • Huynh Thi Dieu Linh

    (Danang University of Economics)

  • Truong Ngoc Linh

    (Danang University of Economics)

Abstract

The establishment of the European Union (EU) is the most visible demonstration of the impact of globalisation on economic growth. This study aims to clarify the impacts of globalisation on economic growth in the EU region. Based on panel data analysis with statistics collected from twenty-seven European Union member states continuously for the years 2004 to 2018, the results from the research show that globalisation in general and its all three dimensions including economic, political, and social globalisation have positive impacts on economic growth. Political globalisation has a lower impact level than the other aspects. This is the first research using three dimensions of the KOF Globalisation Index to examine the impact of globalisation on the EU-27 area and it does verify the impact of political and social globalisation on economic growth, in addition to the previous controversy about the impacts of these two aspects.

Suggested Citation

  • Huynh Thi Dieu Linh & Truong Ngoc Linh, 2023. "Impacts of globalisation on economic growth in Europe Union countries," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 13(1), pages 87-102.
    • Handle: RePEc:bjw:econen:v:13:y:2023:i:1:p:87-102
    DOI: 10.46223/HCMCOUJS.econ.en.13.1.2206.2023
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    References listed on IDEAS

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    More about this item

    Keywords

    economic growth; Europe Union; globalisation; KOF Globalisation Index; panel data;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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