Globalization and growth in the low income African countries with the extreme bounds analysis

B. Bhaskara Rao, Krishna Chaitanya Vadlamannati

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    59 Citations (Scopus)

    Abstract

    The relationship between globalization and economic growth, especially in the poorer developing countries, is controversial. Previous studies have used single globalization indicators such as the ratio of exports plus imports to GDP. This paper uses a comprehensive measure of a globalization of Dreher (2006), which is based on measures of globalization of the economic, social and political sectors. Panel data estimates with data of 21 low income African countries show a small but significant positive permanent growth effects. The sensitivity of this growth effect is examined with the extreme bounds analysis (EBA). Contrary to the findings by Levine and Renelt (1992) that cross-country growth relationships are fragile, the effects of globalization and some other determinants of the long run growth rate are found to be robust by EBA.
    Original languageEnglish
    Pages (from-to)795-805
    Number of pages11
    JournalEconomic Modelling
    Volume28
    Issue number3
    DOIs
    Publication statusPublished - 2011

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