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13 (1) 2023

Impacts of globalisation on economic growth in Europe Union countries


Author - Affiliation:
Huynh Thi Dieu Linh - Danang University of Economics - The University of Danang, Danang , Vietnam
Truong Ngoc Linh - Danang University of Economics - The University of Danang, Danang , Vietnam
Corresponding author: Huynh Thi Dieu Linh - linhhtd@due.edu.vn
Submitted: 10-03-2022
Accepted: 08-06-2022
Published: 15-02-2023

Abstract
The establishment of the European Union (EU) is the most visible demonstration of the impact of globalisation on economic growth. This study aims to clarify the impacts of globalisation on economic growth in the EU region. Based on panel data analysis with statistics collected from twenty-seven European Union member states continuously for the years 2004 to 2018, the results from the research show that globalisation in general and its all three dimensions including economic, political, and social globalisation have positive impacts on economic growth. Political globalisation has a lower impact level than the other aspects. This is the first research using three dimensions of the KOF Globalisation Index to examine the impact of globalisation on the EU-27 area and it does verify the impact of political and social globalisation on economic growth, in addition to the previous controversy about the impacts of these two aspects.

JEL codes
C33; F43; F62; F63; O52

Keywords
economic growth; Europe Union; globalisation; KOF Globalisation Index; panel data

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Huynh, L. T. D., & Truong, L. N. (2023). Impacts of globalisation on economic growth in Europe Union countries. Ho Chi Minh City Open University Journal of Science – Economics and Business Administration, 13(1), 87-102. doi:10.46223/HCMCOUJS.econ.en.13.1.2206.2023


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DOI: https://doi.org/10.46223/HCMCOUJS.econ.en.13.1.2206.2023
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