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The Effect of Globalization and Political Party on Economic Growth

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  • Chun-Ping Chang
  • Chien-Chiang Lee

Abstract

The aim of this paper is to explore the role of globalization (the overall level as well as its three dimensions of economic, social, and political integration) in promoting economic growth and examine if the incumbent political party influences the relation between the two variables. We attempt to investigate the evidence of long-run equilibrium in terms of the relationship between globalization and economic growth in the period 1990-2006 while also considering the influences of the incumbent political party. In this paper we thus divide Europe into two groups based on political regime characteristics, using ten former communist countries (FCCs) and eighteen Organization for Economic Cooperation and Development (OECD) members as the study samples. The results of our empirical test confirm our expectations that globalization contributes to economic growth, but it is also sensitive to specific institutional factors, like an incumbent political party. Globalization has a larger impact on real gross domestic product per capita in FCCs than in OECD countries. Although the FCCs and OECD countries are in geographic proximity, the difference in their level of economic development is very large.

Suggested Citation

  • Chun-Ping Chang & Chien-Chiang Lee, 2011. "The Effect of Globalization and Political Party on Economic Growth," Eastern European Economics, Taylor & Francis Journals, vol. 49(6), pages 5-26, November.
    • Handle: RePEc:mes:eaeuec:v:49:y:2011:i:6:p:5-26
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    Citations

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    Cited by:

    1. Chien-Chiang Lee & Chi-Chuan Lee & Chun-Ping Chang, 2015. "Globalization, Economic Growth and Institutional Development in China," Global Economic Review, Taylor & Francis Journals, vol. 44(1), pages 31-63, March.
    2. Zerrin K l carslan & Yasemin Dumrul, 2018. "The Impact of Globalization on Economic Growth: Empirical Evidence from the Turkey," International Journal of Economics and Financial Issues, Econjournals, vol. 8(5), pages 115-123.
    3. Charles E. Bryant & Rajshekhar G. Javalgi, 2016. "Global Economic Integration in Developing Countries: The Role of Corruption and Human Capital Investment," Journal of Business Ethics, Springer, vol. 136(3), pages 437-450, July.
    4. Wen, Jun & Okolo, Chukwuemeka Valentine & Ugwuoke, Ifeanyi Celestine & Kolani, Kibir, 2022. "Research on influencing factors of renewable energy, energy efficiency, on technological innovation. Does trade, investment and human capital development matter?," Energy Policy, Elsevier, vol. 160(C).
    5. Chang, Chun-Ping & Wen, Jun & Zheng, Mingbo & Dong, Minyi & Hao, Yu, 2018. "Is higher government efficiency conducive to improving energy use efficiency? Evidence from OECD countries," Economic Modelling, Elsevier, vol. 72(C), pages 65-77.
    6. Jun Wen & Xiu-Yun Yang & Gen-Fu Feng & Bo Sui & Chun-Ping Chang, 2017. "The comovement between venture capital and innovation in China: what are the implications?," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(6), pages 2489-2506, November.

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