A Rising Tide Lifts All Boats? A Case of Economic Globalization

This article investigates the relationship between economic globalization and economic growth across the globe from 1984 to 2016, using the application of fixed effects and random effects modelling. The empirical findings exhibit that economic globalization has had a positive impact on growth at large but different regions of the world have been affected by this integration differently. Trade globalization has benefitted high and middle-income countries but has failed to transfer the benefits to poorer countries. On the other hand, financial globalization has not had an impact as significant as trade globalization. It is suggested that the process of globalization should be managed differently in different countries.

本文深入探讨自1984年至2016年间全球经济一体化与全球经济增长之间的关系，采用固定效应模型与随机效应模型进行实证分析。研究发现，全球经济一体化对整体经济增长产生了积极影响，但世界各地受此一体化进程的影响程度各异。贸易全球化对高收入和中等收入国家有利，却未能将利益传导至贫困国家。另一方面，金融全球化的影响程度不及贸易全球化显著。鉴于此，建议针对不同国家采取差异化的全球化管理策略。