Driving Factors of Globalization: An Empirical Analysis of ...

133 Driving Factors of Globalization: An Em pirical Analysis of the Developed and Developing CountriesAyesha Naz1, Eatzaz Ahmad2 AbstractThere are several economic, political, social and technological Factors that have contribut-ed to globalization in recent decades. The literature has yet to come up with a comprehensive analytical framework. Present study develops a formal framework, which highlights the sources of globalization. Furthermore, the study also provides an Empirical test for Driving Factors of globalization in developed and developing countries. Results of dynamic ordinary least square show human capital, capital, labor, transportation and communication and financial index as the important drivers of globalization in both developed countries and full sample.

provides an empirical test for the large panel of 92 countries. Third, the empirical analysis is carried out separately for the developed and developing countries. Lastly, this study develops several new indices which are used in the empirical investigation. For instance, efficiency index, macroeconomic instability index and transportation

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  Analysis, Empirical, An empirical analysis, An empirical, Empirical analysis

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