Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/21700 |
Resumo: | Using a large panel for 95 countries and the 1972-2014 period, this paper analyses the interactions among globalization, political & civil rights and economic convergence, through a simultaneous estimation technique. We use a multi-dimensional, de facto, and continuous measures of Freedoms and Globalization. We find a two-way positive relationship between civil liberties & political rights and economic, political and social Globalization, as well as significant two-way relationships with the economic convergence (using as a proxy the ratio of GDP per capita to the US). In this way, we extend the test for the two-way relationship between Democracy and Globalization put forward by Eichengreen and Leblang (2008). Overall, we also find a virtuous cycle between Globalization, Freedoms and Economic convergence, except for nonOECD countries at early intermediate stages of development. This positive systemic effect can be put into question by the recent negative shocks on Globalization and Freedoms related to the Covid-19 pandemic. |
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Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panelglobalizationdemocracyfreedomsdevelopmentconvergencepanel datathree-stage least squaresUsing a large panel for 95 countries and the 1972-2014 period, this paper analyses the interactions among globalization, political & civil rights and economic convergence, through a simultaneous estimation technique. We use a multi-dimensional, de facto, and continuous measures of Freedoms and Globalization. We find a two-way positive relationship between civil liberties & political rights and economic, political and social Globalization, as well as significant two-way relationships with the economic convergence (using as a proxy the ratio of GDP per capita to the US). In this way, we extend the test for the two-way relationship between Democracy and Globalization put forward by Eichengreen and Leblang (2008). Overall, we also find a virtuous cycle between Globalization, Freedoms and Economic convergence, except for nonOECD countries at early intermediate stages of development. This positive systemic effect can be put into question by the recent negative shocks on Globalization and Freedoms related to the Covid-19 pandemic.ISEG - REM - Research in Economics and MathematicsRepositório da Universidade de LisboaMacedo, Jorge Braga deMartins, Joaquim OliveiraJalles, João Tovar2021-08-05T17:09:42Z2021-082021-08-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/21700engMacedo, Jorge Braga de, Joaquim Oliveira Martins e Joáo Tovar Jalles (2021). "Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel". Instituto Superior de Economia e Gestão – REM Working paper nº 0189 – 20212184-108Xinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:51:14Zoai:www.repository.utl.pt:10400.5/21700Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:06:14.489112Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel |
title |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel |
spellingShingle |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel Macedo, Jorge Braga de globalization democracy freedoms development convergence panel data three-stage least squares |
title_short |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel |
title_full |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel |
title_fullStr |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel |
title_full_unstemmed |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel |
title_sort |
Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel |
author |
Macedo, Jorge Braga de |
author_facet |
Macedo, Jorge Braga de Martins, Joaquim Oliveira Jalles, João Tovar |
author_role |
author |
author2 |
Martins, Joaquim Oliveira Jalles, João Tovar |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Macedo, Jorge Braga de Martins, Joaquim Oliveira Jalles, João Tovar |
dc.subject.por.fl_str_mv |
globalization democracy freedoms development convergence panel data three-stage least squares |
topic |
globalization democracy freedoms development convergence panel data three-stage least squares |
description |
Using a large panel for 95 countries and the 1972-2014 period, this paper analyses the interactions among globalization, political & civil rights and economic convergence, through a simultaneous estimation technique. We use a multi-dimensional, de facto, and continuous measures of Freedoms and Globalization. We find a two-way positive relationship between civil liberties & political rights and economic, political and social Globalization, as well as significant two-way relationships with the economic convergence (using as a proxy the ratio of GDP per capita to the US). In this way, we extend the test for the two-way relationship between Democracy and Globalization put forward by Eichengreen and Leblang (2008). Overall, we also find a virtuous cycle between Globalization, Freedoms and Economic convergence, except for nonOECD countries at early intermediate stages of development. This positive systemic effect can be put into question by the recent negative shocks on Globalization and Freedoms related to the Covid-19 pandemic. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-08-05T17:09:42Z 2021-08 2021-08-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/21700 |
url |
http://hdl.handle.net/10400.5/21700 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Macedo, Jorge Braga de, Joaquim Oliveira Martins e Joáo Tovar Jalles (2021). "Globalization, freedoms and economic convergence : an empirical exploration of a trivariate relationship using a large panel". Instituto Superior de Economia e Gestão – REM Working paper nº 0189 – 2021 2184-108X |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
ISEG - REM - Research in Economics and Mathematics |
publisher.none.fl_str_mv |
ISEG - REM - Research in Economics and Mathematics |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799131155099811840 |