Abstract:

Globalization, which has a serious impact on the world economic system, has a different impact on countries. The intense economic, social and political relations between the countries and globalization have a positive or negative impact on the performance of the countries’ economic growth. This study aims to examine the impact of globalization on economic growth on the BRICS-T countries. In this regard, the impact of globalization on real GDP was studied through the Pedroni and Kao integration test for the 1990-2014 period and the FMOLS ratio forecast. The causality relationship between the variables is studied by Dumitrescu and Hurlin (2012) Panel Granger Cause Test. Furthermore, as the empirical model was established on the basis of the Cobb-Douglas production function, the capital variable was also included as an independent variable in the model. The findings obtained in the study have shown that globalization and the accumulation of capital have a positive impact on national income. When the causality relationship between variables is studied, it has been seen that the causality relationship between the capital accumulation per person and economic growth is a two-way, one-way, from globalization to economic growth, one-way, from the capital accumulation per person to globalization. In this regard, it is estimated that increasing countries’ globalization levels will benefit the country’s economic growth.

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