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Globalization, Financial Development and Economic Growth

Author

Listed:
  • Altuð Kazar

    (Department of Economics, Tunceli University, Turkey)

  • Görkemli Kazar

    (Department of Economics, Mersin University, Mersin, Turkey)

Abstract

Widespread globalization and integration remove the borders but this leads to an increase in the income differences among countries. Today, the evaluation process of economic growth experience of countries shows that globalization degree of the economy is also important as the financial development. This paper investigates the relationship between financial development, globalization and economic growth for the case of the countries classified according to income levels over the period 1980-2010. After considering the panel characteristics of the dataset, long-run relationships among financial development, economic growth and the other key growth factors are analyzed by dynamic ordinary least squares method. The empirical results suggest that the effective policy applications are different according to the country classifications

Suggested Citation

  • Altuð Kazar & Görkemli Kazar, 2016. "Globalization, Financial Development and Economic Growth," International Journal of Economics and Financial Issues, Econjournals, vol. 6(2), pages 578-587.
  • Handle: RePEc:eco:journ1:2016-02-30
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    References listed on IDEAS

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    Cited by:

    1. Cândida Ferreira, 2018. "Globalisation and Economic Growth: A panel data approach," Working Papers REM 2018/48, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    2. repec:rfh:bbejor:v:7:y:2018:i:3:p:122-131 is not listed on IDEAS

    More about this item

    Keywords

    Economic Growth; Globalization; Financial Development; Dynamic Ordinary Least Squares;

    JEL classification:

    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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