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Does policy uncertainty affect economic globalization? An empirical investigation

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  • Jianchun Fang
  • Giray Gozgor
  • Chi Keung Marco Lau
  • Neelu Seetaram

Abstract

This paper investigates the role of policy uncertainty on indices of economic globalization from 1996 to 2016 in the panel dataset of 142 countries. For this purpose, we use the nine measures of the Revisited KOF Economic Globalization Indices and two new measures of uncertainty: The World Uncertainty Index (WUI) and the Trade Policy Uncertainty Index (TPUI). The findings indicate that both the WUI and the TPUI are negatively associated with the overall index of economic globalization. The benchmark results remain consistent under various model specifications, econometric estimation techniques, and countries at different income levels.

Suggested Citation

  • Jianchun Fang & Giray Gozgor & Chi Keung Marco Lau & Neelu Seetaram, 2022. "Does policy uncertainty affect economic globalization? An empirical investigation," Applied Economics, Taylor & Francis Journals, vol. 54(22), pages 2510-2528, May.
    • Handle: RePEc:taf:applec:v:54:y:2022:i:22:p:2510-2528
    DOI: 10.1080/00036846.2021.1998324
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    Cited by:

    1. Dong, Dayong & Yang, Mo & Yang, Gaoju & Chen, Chang-Chih & Zhang, Xinyi, 2022. "Talk less and do more: Expected strategic adjustments vs. actual changes in the Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
    2. Hu, Yingde & Bai, Wensong & Farrukh, Muhammad & Koo, Chun Kwong, 2023. "How does environmental policy uncertainty influence corporate green investments?," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    3. Lau, Chi Keung & Pal, Shreya & Mahalik, Mantu Kumar & Gozgor, Giray, 2022. "Economic globalization convergence in high and low globalized developing economies: Implications for the post Covid-19 era," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 1027-1039.

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