How Does Deglobalization Affect Economic Growth?

Authors : Deniz SEVİNÇ, Alp POLAT, Tuba SEVİL, Güven SEVİL

Pages : 1-19

Doi:10.30784/epfad.1255549

View : 8 | Download : 5

Publication Date : 2023-03-31

Article Type : Research Paper

Abstract :The current global landscape has been marked by a series of factors, such as the US-China trade war, disintegration in the European Union insert ignore into journalissuearticles values(EU);, the refugee crisis, and the pandemic, which have impeded the process of globalization. However, similar situations have been experienced in the past, such as colonization, the Great Depression, and the Cold War. The world has experienced periods of globalization insert ignore into journalissuearticles values(Globalization I, II, and III); as well as periods of deglobalization insert ignore into journalissuearticles values(Deglobalization I and II);. There have been discussions about whether the current decade is experiencing deglobalization and its effects. In this context, the present study aims to investigate the effects of deglobalization on economic growth in 34 OECD countries during the period 2000-2019, in various dimensions. Using panel data analysis, the results indicate that trade and social deglobalization have a negative impact on economic growth, while financial deglobalization and the subdimensions of social deglobalization have a positive influence on growth. Additionally, the study reveals that political globalization is not significantly associated with economic growth. These findings contribute to the ongoing debate on the current state of globalization and its effects on economic development.
Keywords : Küreselleşmeden Uzaklaşma, KOF Endeksi, Ekonomik Büyüme