The Impact of Globalization on Economic Growth: Investigate the Impact of Globalization on Economic Growth in Developing Countries
DOI:
https://doi.org/10.59890/kjhar762Keywords:
Globalization, economic development, international trade, foreign direct investment, technological advancementsAbstract
This study investigate the impact of globalization on economic growth and development. Globalization, characterized by increased international trade, foreign direct investment, and technological advancements, has been a significant driver of economic growth in many countries. However, its effects are multifaceted and can vary depending on a country's economic structure, institutions, and policies. The analysis that globalization can positively impact economic growth by increasing access to new markets, technologies, and capital. It can also lead to increased productivity and competitiveness, driving economic development. However, globalization can also have negative consequences, such as income inequality, job displacement, and environmental degradation. The study concludes that the impact of globalization on economic growth depends on a country's ability to adapt and leverage its benefits while mitigating its negative effects. Policymakers must implement strategies to promote inclusive growth, protect vulnerable populations, and ensure sustainable development
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