When Does Globalization Benefit Us?

• 발행기관: 한국사회경제학회
• 저자명: Suh Hanseok
• 간행물 정보: 『사회경제평론』 제33호, 7~41쪽, 전체 35쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2009.11.30

영문 초록

We investigate how the effect of trade and capital globalization on economic growth depends on social cohesion. To overcome endogeneity and countryspecific effect problem we use system GMM estimation of 93 countries from 1980-2000. To fully take into account the various aspects of globalization we estimate both de jour and de facto globalization effects using middle class income share as a proxy for social cohesion. Empirical results show that in most cases trade and capital globalization do not itself have a significant effect on growth. The effects of trade and capital globalization on economic growth significantly depend on social cohesion. But the relationship between globalization and social cohesion shows inverted U-curve, around upper region of threshold effect of globalization on growth diminishes even though the level of social cohesion become higher.

키워드

globalization social cohesion economic growth