THE EFFECT OF GLOBALİZATİON ON ECONOMİC GROWTH İN UPPER-MİDDLE INCOME SUB-SAHARAN AFRİCAN COUNTRİES

Abstract

Globalization is economic, political, cultural and technological etc. It is a concept that has a significant impact in many fields. The concept of globalization is a highly debated concept today, and it is important in what way this concept will affect economic growth. It can also be mentioned that the concept of globalization maintains its importance in terms of the measures to be implemented and the policies to be implemented in countries. Dimensions of globalization also affect economic growth. It is seen that many indices have been developed in the world to measure the effects of globalization. Among these indices, the most widely used is the KOF globalization index. It is known that the KOF globalization index also includes the economic, political and social dimensions of globalization. In this study, the effect of globalization on economic growth was investigated using the panel data method for five upper middle income Sub-Saharan African Countries (Bostwana, Gabon, Mauritius, Namibia, South Africa). The study, which uses anual data covers the period 1990-2019. In the study, as a result of the cross-sectional dependence test and homogeneity test, econometric analysis was investigated with Gengenbach, Urbain and Westerlund Panel Cointegration Test and Dumitrescu-Hurlin Causality Test. As a result of panel cointegration analysis, there is a long-term relationship between the variables. According to the findings of the Dumitrescu-Hurlin causality test, a mutual causality relationship was determined between economic growth and general globalization and labor force participation rate; A unidirectional causality relationship was found from gross fixed capital stock to economic growth.