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Modelling Linkage of Globalization and Financial Development to Human Development in CLMV Region

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  • Chhorn, Theara
  • Chhorn, Dina

Abstract

Several existing theories emphasize the strong positive effects of globalization and financial development on human development, either because of the rising economic welfare and the higher productivity of workers generating from increasing skill specialization or because financial development will create an increase of investment in education which is the major source of economic growth and human development. We show that there is no such a huge promise in the case of CLMV countries. The globalization and financial development does unquestionably generate statistically positive impact but with a small magnitude. We suggest that this informative finding reflects the rapid increase of globalization and financial development in CLMV countries ameliorating significantly only human development of urban population but decreasing for rural population. This indicates the benefits of globalizing forces concentrate in urban region where the huge majority of CLMV population are living in rural area.

Suggested Citation

  • Chhorn, Theara & Chhorn, Dina, 2017. "Modelling Linkage of Globalization and Financial Development to Human Development in CLMV Region," MPRA Paper 84878, University Library of Munich, Germany, revised 01 Nov 2017.
    • Handle: RePEc:pra:mprapa:84878
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    Cited by:

    1. Jayanti Behera & Dukhabandhu Sahoo, 2022. "Asymmetric relationships between information and communication technology (ICT), globalization, and human development in India: evidence from non-linear ARDL analysis," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 11(1), pages 1-25, December.

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    More about this item

    Keywords

    Financial Development; Globalization; Human Development; Analysis of Economic Significance; CLMV Region;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • F6 - International Economics - - Economic Impacts of Globalization
    • G0 - Financial Economics - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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