Globalisation and Economic Growth: From an Irreversible Process to a Trend in Question

The process of globalisation, which encompasses the exploitation of international operations and the advancement of international trade, has resulted in the strengthening of connections between countries, pursuing economic growth, has been subjected to scrutiny, particularly in the wake of the 2008–2009 financial crisis and the subsequent global pandemic. The objective of this study is to examine whether globalisation functions as a catalyst for economic growth or because of economic advancement in highly globalised countries, within the context of growing uncertainty at various levels. The methodology is based on the KOF Globalisation Index and economic growth indicators for the five most globalised countries, with data ranging from 1970 to 2023, and incorporates a correlation analysis, an assessment of multicollinearity, and a hierarchical regression analysis with control variables, intending to assess the impact of globalisation. The results suggest that globalisation may be a consequence of economic development rather than a direct catalyst for growth. Moreover, the findings indicate that countries with a high capacity for innovation and exports tend to achieve higher levels of globalisation. It is recommended that further research be conducted to gain a more nuanced understanding of the various geopolitical scenarios and extended periods under examination.