Regionalism, Globalization, and Economic Development of the World
Journal Title: Journal of Globalization Studies - Year 2013, Vol 4, Issue 2
Abstract
This study evaluates the effects of regionalism on economic development in the world basing on the panel data of 217 countries. In general, regionalism pursued by countries via their respective regional organizations was found to have no significant independent effect on the economic development. Regardless of regionalism, the international economic variables such as globalization and terms of trade, as well as domestic variables such as population growth, urbanization and ethnic composition were found to have significant impact on economic development. In affecting economic development, the individual sovereign member states of regional organizations are independent of the collective institutional design of the regional organization they are affiliated with.
Authors and Affiliations
Hae Kim
Keywords
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