The Impact of Globalization on a Country's Quality of Life: Toward an Integrated Model

Sirgy, M. Joseph; Lee, Dong Jin; Miller, Chad R.; Littlefield, James E.

doi:10.1023/b:soci.0000033577.34180.4b

Cited by 73 publications

(62 citation statements)

References 16 publications

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“…In confirming this assertion Scholte (2000) posits, an unequal allocation of benefits is generated that favors the already advantaged. Though this radical stance is not explicitly shared by Sirgy et al (2004), they do predict several negative effects in suggesting globalization has "double-bladed" outcomes.…”

Section: Theoretical Highlightsmentioning

confidence: 98%

Globalization and Africa: Implications for Human Development

Asongu

2012

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in February 2012Abstract Purpose -The purpose of this paper is to assess the effects of trade and financial globalization on human development in 52 African countries using updated data (1996-2010) and a new indicator of human development (adjusted for inequality).Design/methodology/approach -The estimation technique used is a Two-Stage-Least Squares Instrumental Variable methodology. Instruments include: income-levels, legal-origins and religious-dominations. The first-step consists of justifying the choice of the estimation technique with a Hausman-test for endogeneity. In the second-step, we verify that the instrumental variables are exogenous to the endogenous components of explaining variables (globalization dynamic channels) conditional on other covariates (control variables). In the third-step, the strength and validity of the instruments are assessed with the Cragg-Donald and Sargan overidentifying restrictions tests respectively. Robustness checks are ensured by: (1) use of alternative globalization indicators; (2) endogeneity based estimation; (3) adoption of two interchangeable sets of instruments; (4) estimation with a technique that controls for timeinvariant unobservable shocks that affect openness and human development simultaneously.Findings -Findings broadly indicate that while trade globalization improves human development (consistent with the neoliberal theory), financial globalization has the opposite effect (in line with the hegemony thesis). The 'life expectancy' component of the HDI weighs most in the positive impact of trade globalization on human emancipation.Practical implications -Capital accounts should be opened in tandem with financial and institutional development. The investment atmosphere needs improvement to curtail capital flight (about 39%). Other policy implications include: adoption of openness options in a selective and gradual manner, development of some industrial backbone for an importsubstitution or export-led industry, emphasis on regional trade and building capacity, development of the agricultural sector with continuous government assistance, building of rural infrastructure, increasing adult literacy rate and developing human resources, fighting corruption and mitigating wastages in government expenditure.1 Simplice A. Asongu is Lead economist in the Research Department of the AGDI (asongus@afridev.org). 3Originality/value -These findings are based on very recent data. Usage of the in...

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Section: Theoretical Highlightsmentioning

confidence: 98%

Globalization and Africa: Implications for Human Development

Asongu

2012

SSRN Journal

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“…As Scholte (2000) has noted, the allocation of benefits from globalisation is not balanced because it is skewed towards the wealthy that are already in socio-economically advantaged positions. Sirgy et al (2004) have confirmed the plethora of negative impacts of globalisation, for the most part.…”

Section: First An April 15mentioning

confidence: 54%

Globalization and Inclusive Human Development in Africa

Asongu

Nwachukwu

2017

Man and the Economy

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“…The chapter uses the integrated model of globalization developed by Sirgy et al (2004) to frame the complicated impact of the globalization of the automotive industry on the QOL of the residents of the U.S. Southeast. Over the past twenty plus years, the changing global motor vehicle industry enabled the development of a vibrant automotive industry in the U.S. Southeast dominated by foreign-owned firms at the expense of the Big 3 based in Detroit (Klier & Rubenstein, 2008).…”

Section: Discussionmentioning

confidence: 99%

“…Sirgy et al (2004) developed a conceptual model describing possible impacts of globalization on the QOL at the country level. The conceptual model provides the necessary research questions that should be investigated empirically to assess the impact of globalization on a country's quality of life.…”

Section: The Diffusion Of Goodsmentioning

confidence: 99%