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The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey

Yıl 2023, Cilt: 73 Sayı: 2, 717 - 743, 30.12.2023
https://doi.org/10.26650/ISTJECON2023-1248345

Öz

As a multi-dimensional concept that affects many other factors, globalization has a profound impact on the economy as well. It is possible to argue that developing countries are more affected by globalization than others. In this study, the impact of globalization on the various aspects of economic growth is analyzed empirically for Turkey, a developing country. The ARDL Bounds Test was applied as an econometric methodology, using the dataset period between 1970-2018 for Turkey. This study used economic, social, political, and overall globalization indices to measure globalization. The results show that social, economic, and political globalization affect economic growth positively, whereas the overall globalization index affects it negatively in the long run. The ARDL Bounds Test results show that the utilized variables in the study are co-integrated in the long run. In fact, there is an economic relationship between the variables.

JEL Classification : F43 , F62 , O47

Kaynakça

  • Adesoye, A.A., Ajike, E.O. and Maku, O.E. (2015). Economic globalization and economic growth in the developing economies: A case of Nigerian economy. International Journal of Economics, Commerce and Management, 3(7), 340-355. google scholar
  • Afzal, M. (2007). The impact of globalization on economic growth of Pakistan: An error-correction modelling. The Pakistan Development Review, 46(4), 723-734. google scholar
  • Andersen, T. and Herbertsson, T. (2005). Quantifying globalization. Applied Economics, 37(10), 1089-1098. google scholar
  • Apaydin, Ş. (2019). Türkiye’de İktisadi Küreselleşmenin Büyüme Üzerindeki Yapısal ve Tarihsel Etkileri. Bitlis Eren Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Akademik Izduşum Dergisi, 4(1), 1-27. google scholar
  • Aslan, N. (2013). Ekonomik kuresellesme: Tarihi, boyutları ve sonuclari. O. Kucukahmetoglu, H. Cestepe ve S. Tuyluoglu (Ed.), Ekonomik Entegrasyon Kuresel ve Bolgesel Yaklasim kitabi icinde (s.7-28). Istanbul: Ekin Kitabevi. google scholar
  • Borensztein, E., De Gregorio, J. and Lee, J.W. (1998). How does foreign direct investment affect economic growth?. Journal of International Economics, 45, 115-135. google scholar
  • Bozoklu, S. and Yilanci, V. (2013). Finansal gelisme ve iktisadi buyume arasindaki nedensellik iliskisi: Gelismekte olan ekonomiler icin analiz. Dokuz Eylül Universitesi I.I.B.F Dergisi, 28(2), 161-187. google scholar
  • Breusch, T.S. and Godfrey, L.G. (1978) Misspecification Tests and Their Uses in Econometrics. Journal of Statistical Planning and Inference, 49, 241-260. google scholar
  • Brixiova, Z. and Treigiene, D. (2003). Globalization and growth in recent research. Date of Access: 09.10.2021, https://www.researchgate.net/publication/264868906_globalization_and_growth_ in_recent_research, E.T google scholar
  • Calderon, C. and Fuentes, J.R. (2006). Complementarities between institutions and openness in economic development: Evidence for a panel of countries. Cuadernos De Economı'a, 43, 49-80. google scholar
  • Caselli, M. (2012). Trying to measure globalization experiences. Critical Issues and Perspectives, Springer Brief in Political Science, Italy. google scholar
  • Chang, C.P., Lee, C.C. and Hsieh, M.C. (2011). Globalization, real output and multiple structural breaks. Global Economic Review, 40(4), 421-444. google scholar
  • Coulibaly, S.K., Erbao, C. and Mekongcho, T.M. (2018). Economic globalization, entrepreneurship and development. Technological Forecasting and Social Change, 127, 271-280. google scholar
  • Celik, M.Y. and Unsur, Z. (2020). Kuresellesme ve Buyume iliskisinin Dumitrescu-Hurlin panel nedensellik testi ile belirlenmesi. Izmir Iktisat Dergisi, 35(1), 201-210. google scholar
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  • De Soysa, A. and Vadlamannati, K.C. (2011). Does Being Bound Together Suffocate or Liberate? The Effects of Economic, Social, and Political Globalization on Human Rights 1982-2005. Kyklos, 64(1), 20-53 google scholar
  • Destek, M. A. (2020). Investigation on the Role of Economic, Social, and Political Globalization on Environment: Evidence from CEECs. Environmental Science and Pollution Research, 27(27), 33601-33614. google scholar
  • Dickey, D. A and W. A. Fuller (1979). Distributions of the Estimators for Autoregressive Time Series with a Unit Root. Journal of American Statistical Association, 74(366), 427-481. google scholar
  • Didzgalvyte-Bujauske, M., Pereira, E. T. and Osteikaite, A. (2019). The Effect of Globalisation for Economic Growth of Developing Countries. Applied Economics: Systematic Research, 13(1), 1328. google scholar
  • Dogan, B. and Can, M. (2016). Kuresellesmenin Buyumeye Etkisi: Güney Kore Ornekleminde Esbutunlesme Analizi. Cankiri Karatekin Universitesi I.I.B.F. Dergisi, 6(2),197-220. google scholar
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  • Dreher, A. (2006). Does Globalization Affect Growth? Evidence from a New Index of Globalization. Applied Economics, 38(10), 1091-1110. google scholar
  • Eren, M. V. and Cutcu, İ. (2018). Kuresellesmenin Ekonomik Buyumeye Etkisi: Türkiye Uzerine Ekonometrik Bir Analiz. Siyaset Ekonomi ve Yonetim Arastirmalari Dergisi, 6(1), 47-61. google scholar
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  • Guris, S., Caglayan, E., Cakir Zeytinoglu, F., Sacakli Sacildi, I. and Sagdic, C. (2016). Surdurulebilir Turizm: Turizm, Ekonomik Buyume ve Karbondioksit Emisyonu Arasindaki Baglanti, Econworld International Conference on Economics, Barcelona. google scholar
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Yıl 2023, Cilt: 73 Sayı: 2, 717 - 743, 30.12.2023
https://doi.org/10.26650/ISTJECON2023-1248345

Öz

Kaynakça

  • Adesoye, A.A., Ajike, E.O. and Maku, O.E. (2015). Economic globalization and economic growth in the developing economies: A case of Nigerian economy. International Journal of Economics, Commerce and Management, 3(7), 340-355. google scholar
  • Afzal, M. (2007). The impact of globalization on economic growth of Pakistan: An error-correction modelling. The Pakistan Development Review, 46(4), 723-734. google scholar
  • Andersen, T. and Herbertsson, T. (2005). Quantifying globalization. Applied Economics, 37(10), 1089-1098. google scholar
  • Apaydin, Ş. (2019). Türkiye’de İktisadi Küreselleşmenin Büyüme Üzerindeki Yapısal ve Tarihsel Etkileri. Bitlis Eren Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Akademik Izduşum Dergisi, 4(1), 1-27. google scholar
  • Aslan, N. (2013). Ekonomik kuresellesme: Tarihi, boyutları ve sonuclari. O. Kucukahmetoglu, H. Cestepe ve S. Tuyluoglu (Ed.), Ekonomik Entegrasyon Kuresel ve Bolgesel Yaklasim kitabi icinde (s.7-28). Istanbul: Ekin Kitabevi. google scholar
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  • Bozoklu, S. and Yilanci, V. (2013). Finansal gelisme ve iktisadi buyume arasindaki nedensellik iliskisi: Gelismekte olan ekonomiler icin analiz. Dokuz Eylül Universitesi I.I.B.F Dergisi, 28(2), 161-187. google scholar
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  • Destek, M. A. (2020). Investigation on the Role of Economic, Social, and Political Globalization on Environment: Evidence from CEECs. Environmental Science and Pollution Research, 27(27), 33601-33614. google scholar
  • Dickey, D. A and W. A. Fuller (1979). Distributions of the Estimators for Autoregressive Time Series with a Unit Root. Journal of American Statistical Association, 74(366), 427-481. google scholar
  • Didzgalvyte-Bujauske, M., Pereira, E. T. and Osteikaite, A. (2019). The Effect of Globalisation for Economic Growth of Developing Countries. Applied Economics: Systematic Research, 13(1), 1328. google scholar
  • Dogan, B. and Can, M. (2016). Kuresellesmenin Buyumeye Etkisi: Güney Kore Ornekleminde Esbutunlesme Analizi. Cankiri Karatekin Universitesi I.I.B.F. Dergisi, 6(2),197-220. google scholar
  • Dogan, B. (2017). Ekonomik Kuresellesme ve Buyume Iliskisi: Türkiye Ornegi Toda-Yamamoto Nedensellik Analizi. Finans Politik ve Ekonomik Yorumlar, 54(628), 19-27. google scholar
  • Dreher, A. (2006). Does Globalization Affect Growth? Evidence from a New Index of Globalization. Applied Economics, 38(10), 1091-1110. google scholar
  • Eren, M. V. and Cutcu, İ. (2018). Kuresellesmenin Ekonomik Buyumeye Etkisi: Türkiye Uzerine Ekonometrik Bir Analiz. Siyaset Ekonomi ve Yonetim Arastirmalari Dergisi, 6(1), 47-61. google scholar
  • Fukase, E. (2010). Revisiting Linkages Between Openness, Education and Economic Growth: System GMM Approach. Journal of Economic Integration, 25(1), 193-222. google scholar
  • Gujarati, D. N. (2003). Basic Econometrics, (4.ed). New York: The Mcgraw-Hill/Irwin Companies. google scholar
  • Guris, S., Caglayan, E., Cakir Zeytinoglu, F., Sacakli Sacildi, I. and Sagdic, C. (2016). Surdurulebilir Turizm: Turizm, Ekonomik Buyume ve Karbondioksit Emisyonu Arasindaki Baglanti, Econworld International Conference on Economics, Barcelona. google scholar
  • Hayaloglu, P., Kalayci, C. and Artan, S. (2015). Kuresellesme Farkli Gelir Grubundaki Ulkelerde Ekonomik Buyumeyi Nasil Etkilemektedir?. Eskisehir Osmangazi Universitesi İİBF Dergisi, 10(1), 119-152. google scholar
  • Hossain, M. S., Kibria, M. G. and Islam, M. S. (2018). Does Globalization Affect the Economic growth of Bangladesh? - An Econometric Analysis. Asian Economic and Financial Review, 8(12), 13841393. google scholar
  • Husain, I. (2000). Making Globalization Work for the Poor Case Study of Pakistan. EMP-CIDA Globalisation Project, Lahore University of Management Sciences, 1-28. google scholar
  • Jarque, M. C. and Bera, A. K. (1980). Efficient Tests for Normality, Homoscedasticity and Serial Independence of Regression Residuals. Economics Letters, 6(3), 255-259. google scholar
  • Johnston, J. and Dinardo, J. (1997). Econometric Methods, (4.ed). New York: The Mc Graw Hill Companies. google scholar
  • Kaurin, V. and Simic, B. (2017). Globalisation and Growth: Empirical Evidence from CEE Countries. Economic and Social Development 24th International Scientific Conference on Economic and Social Development-Managerial Issues in Modern Business, in M. Przygoda, M. Cingula and L. Yongqiang (Ed.), Book of Proceedings, 274-282. google scholar
  • Kilic, C. (2015). Effects of Globalization on Economic Growth: Panel Data Analysis for Developing Countries. Petroleum-Gas University of Ploiesti Bulletin, Technical Series, 67(1), 1-11. google scholar
  • Kilicarslan, Z. and Dumrul, Y. (2018). The Impact of Globalization on Economic Growth: Empirical Evidence from the Turkey. International Journal of Economics and Financial Issues, 8(5), 115-123. google scholar
  • Klein, M. W. (2003). Capital Account Openness and the Varieties of Growth Experience. NBER Working Paper, No. 9500. google scholar
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  • Kose, M. A., Prasad, E., Rogoff, K. and Wei, S. J. (2006). Financial Globalization: A Reappraisal. IMF Working Paper, WP/06/189. google scholar
  • Lockwood, B. and Redoano, M. (2005). CSGR Globalization Index: An Introductory Guide, Centre for Study of Globalization and Regionalization, Working Paper 155/04. google scholar
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  • Maduka, A. C., Madichie, C. V. and Eze, E. A. (2017). Globalization and Economic Growth: Evidence from Nigeria. International Journal of Social Science and Economic Research, 2(8), 4177-4191. google scholar
  • Manwa, F. and Wijeweera, A. (2016). Trade Liberalisation and Economic Growth Link: the Case of Southern African Custom Union Countries. Economic Analysis and Policy, 51, 12-21. google scholar
  • Maqbool-Ur-Rahman, M. (2015). Impacts of Globalization on Economic Growth-Evidence from Selected South Asian Countries. Journal of Management Sciences, 2(1), 185-204. google scholar
  • McGrew, A. (2011). The Logics of Economic Globalization. In J. Ravenhill (Ed.), Global Political Economy, (3.ed). Oxford University Press, 275-311. google scholar
  • Meraj, M. (2013). Impact of Globalization and Trade Openness on Economic Growth in Bangladesh. Ritsumeikan Journal of Asia Pacific Studies, 32, 40-50. google scholar
  • Mutascu, M. and Fleischer, A. M. (2011). Economic Growth and Globalization in Romania. World Applied Sciences Journal, 12(10), 1691-1697. google scholar
  • Nwakanma, P. C. and Ibe, R. C. (2014). Globalization and Economic Growth: An Econometric Dimension Drawing Evidence from Nigeria. International Review of Management and Business Research, 3(2), 771-778. google scholar
  • Ozel, H. A. (2012) Kuresellesme Surecinde Ticari ve Finansal Acikligin Ekonomik Buyume Uzerine Etkisi: Türkiye Ornegi. Yönetim Bilimleri Dergisi, 10(19), 21-43. google scholar
  • Perron, P. (1989) The Great Crash, the Oil Price Shock and the Unit Root Hypothesis. Econometrica, 57, 1361-1401. google scholar
  • Peseran, M.H., Shin, Y. and Smith, R.J. (2001). Bounds Testing Approaches to the Analysis of Level Relationship. Journal of Applied Economics, 16, 289-326. google scholar
  • Polat, C. and Peker, K.O. (2020). Kuresellesme ve Ekonomik Buyume Iliskisi: Türkiye Orneginde bir Değerlendirme. Insan ve Toplum Bilimleri Arastirmalari Dergisi, 9(5), 3988-4015. google scholar
  • Radulovic, M. and Kostic, M. (2020). Globalization and Economic Growth of Eurozone Economies. In Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, 38(1), 183-214. google scholar
  • Ramsey, J.B. (1969). Tests for Specification Errors in Classical Linear Least Squares Regression Analysis.Journal of the Royal Statistical Society Series B, 31(2), 350-371. google scholar
  • Rao, B.B. and Vadlamannati, K.C. (2011). Globalization and Growth in the Low Income African Countries with the Extreme Bounds Analysis. Economic Modelling, 28(3), 795-805. google scholar
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Toplam 74 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular İşletme
Bölüm Araştırma Makalesi
Yazarlar

Hamza Çeştepe 0000-0003-1541-5703

Havanur Ergün Tatar 0000-0002-4284-9083

Serdar Erdogan 0000-0001-8594-3929

Yayımlanma Tarihi 30 Aralık 2023
Gönderilme Tarihi 6 Şubat 2023
Yayımlandığı Sayı Yıl 2023 Cilt: 73 Sayı: 2

Kaynak Göster

APA Çeştepe, H., Ergün Tatar, H., & Erdogan, S. (2023). The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi, 73(2), 717-743. https://doi.org/10.26650/ISTJECON2023-1248345
AMA Çeştepe H, Ergün Tatar H, Erdogan S. The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi. Aralık 2023;73(2):717-743. doi:10.26650/ISTJECON2023-1248345
Chicago Çeştepe, Hamza, Havanur Ergün Tatar, ve Serdar Erdogan. “The Impact of Globalization With Its Different Aspects on Economic Growth: The Case of Turkey”. İstanbul İktisat Dergisi 73, sy. 2 (Aralık 2023): 717-43. https://doi.org/10.26650/ISTJECON2023-1248345.
EndNote Çeştepe H, Ergün Tatar H, Erdogan S (01 Aralık 2023) The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi 73 2 717–743.
IEEE H. Çeştepe, H. Ergün Tatar, ve S. Erdogan, “The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey”, İstanbul İktisat Dergisi, c. 73, sy. 2, ss. 717–743, 2023, doi: 10.26650/ISTJECON2023-1248345.
ISNAD Çeştepe, Hamza vd. “The Impact of Globalization With Its Different Aspects on Economic Growth: The Case of Turkey”. İstanbul İktisat Dergisi 73/2 (Aralık 2023), 717-743. https://doi.org/10.26650/ISTJECON2023-1248345.
JAMA Çeştepe H, Ergün Tatar H, Erdogan S. The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi. 2023;73:717–743.
MLA Çeştepe, Hamza vd. “The Impact of Globalization With Its Different Aspects on Economic Growth: The Case of Turkey”. İstanbul İktisat Dergisi, c. 73, sy. 2, 2023, ss. 717-43, doi:10.26650/ISTJECON2023-1248345.
Vancouver Çeştepe H, Ergün Tatar H, Erdogan S. The Impact of Globalization with its Different Aspects on Economic Growth: The Case of Turkey. İstanbul İktisat Dergisi. 2023;73(2):717-43.