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- W3203608448 abstract "We investigate how the effect of trade and capital globalization on economic growth depends on social cohesion. To overcome endogeneity and country- specific 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." @default.
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- W3203608448 date "2009-01-01" @default.
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- W3203608448 title "When Does Globalization Benefit Us?: Globalization, Social Cohesion and Economic Growth" @default.
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