Globalization, Country Risks and Economic Growth in Asian and African Countries: Quantitative Comparisons

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Keywords: globalization; globalization index; country risk premium; economic growth; complementary policy effects; regression analysis

To cite this article

Kasimovskaya E. N., Didenko M. P., Kobozev Y. S. Globalization, Country Risks and Economic Growth in Asian and African Countries: Quantitative Comparisons. // Lomonosov Oriental Studies Journal. 2017. N 4, p.56–67

Kasimovskaya E. N. Didenko M. P. Kobozev Y. S.

Abstract

The article represents a quantitative study of economic growth in the context of globalization and a country risk premium. The authors have analyzed the panel data for 94 countries for the period of 2001–2013 years. The sample of 29 Asian and African countries was considered for the same indicators and the time period. The hypothesis about correlation between the level of country’s globalization, its country risk premium and its economic growth was tested. The regression analysis showed that there was a negative correlation between the economic growth of Asian and African countries and their level of integration in the global economy. Qualitative indicators as independent variables were not investigated.