The thrust of this study is the implication of economic and social globalization on pro-poor growth. The KOF indexes of de facto and de jure globalization was utilized for this study. Data on the variables were obtained from the National Bureau of Statistics (NBS) and World Bank WDI among others. The data analysis was conducted using ARDL model, bounds cointegration and unit root test in addition to descriptive statistics. The results showed that the variables are fractionally integrated as observed from the unit root test. This finding necessitated the application of bounds cointegration which showed evidence of long run relationship between poverty headcount and globalization indexes. The ARDL results revealed that economic globalization has a positive and significant effect on poverty headcount in the short run. This finding is synonymous with the long-run results, which showed evidence of a significant positive effect of economic globalization on poverty headcount. The implication of this finding is that the benefits of economic globalization in terms of trade in goods and services, trade regulations and agreements, FDI inflows, portfolio investments, foreign debt, and other forms of financial globalization have not trickled down to the poor.The results further showed that social globalization has a negative and significant effect on poverty headcount. However, there is evidence of positive and insignificant effects of political globalization on poverty headcount in both the long and short run. Given the findings, it is recommended that policymakers prioritize social globalization to trickle-down its intended and desired benefits of poverty reduction.
Anetor, F. O., Esho, E., &Verhoef, G. (2020). The impact of foreign direct investment, foreign aid and trade on poverty reduction: Evidence from Sub-Saharan African countries. Cogent Economics & Finance, 8(1), 1737347.
Baek, I., & Shi, Q. (2016). Impact of economic globalization on income inequality: Developed economies vs emerging economies. Global Economy Journal, 16(1), 49-61.
Bergh, A., & Nilsson, T. (2011).Globalization and absolute poverty–A panel data study.Bergh, Andreas and Bergh, Andreas and Nilsson, Therese, Globalization and Absolute Poverty – A Panel Data Study (2011). IFN Working Paper No. 862, Available at SSRN: https://ssrn.com/abstract=2363784 or http://dx.doi.org/10.2139/ssrn.2363784
Blowfield, M. (2007).Globalization and poverty. Business Strategy Review, 18(4), 35-38.
Dreher, A. (2006). Does globalization affect growth? Evidence from a new index of globalization. Applied economics, 38(10), 1091-1110.
Gourinchas, P. O., & Obstfeld, M. (2012).Stories of the twentieth century for the twenty-first. American Economic Journal: Macroeconomics, 4(1), 226-65.
Harrison, A., & McMillan, M. (2007).On the links between globalization and poverty. The Journal of Economic Inequality, 5(1), 123-134.
Harrison, A., & McMillan, M. (2007).On the links between globalization and poverty. The Journal of Economic Inequality, 5(1), 123-134.
Irogbe, K. (2014). The effects of globalization in Latin America, Africa, and Asia: A global south perspective. Lexington Books.
Kang-Kook, L. E. E. (2014). Globalization, income inequality and poverty: Theory and empirics. Social System Studies, 28, 109-134.
Kilic, C. (2015). Effects of Globalization on Economic Growth: Panel Data Analysis for Developing Countries. Petroleum-Gas University of Ploiesti Bulletin, Technical Series, 67(1).1 – 11.
Kilicarslan, Z., & Dumrul, Y. (2018). The impact of globalization on economic growth: empirical evidence from the Turkey. International Journal of Economics and Financial Issues, 8(5), 115-123.
Majidi, A. F. (2017). Globalization and economic growth: The case study of developing countries. Asian Economic and Financial Review, 7(6), 589-599.
Milanovic, B. (2005). Can we discern the effect of globalization on income distribution? Evidence from household surveys. The World Bank Economic Review, 19(1), 21-44.
Nguea, S. M., Noumba, I., &Noula, A. G. (2020). Does Globalization improve Health in Sub-Saharan African countries?''. Economics Bulletin, 40(4), 3033-3045.
Nwadike, G. C., Johnmary, A. K., &Alamba, C. S. (2020). Impact of trade openness on Nigerian economic growth: an empirical investigation, 1970–2011. Foreign Trade Review, 55(2), 239-247.
Pesaran, M. H., & Shin, Y. (1999). An autoregressive distributed lag modelling approach to cointegrationanalysis’ in S Strom, (ed.), Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium, Cambridge: Cambridge U P.
Phillips, P. C., &Perron, P. (1988).Testing for a unit root in time series regression. Biometrika, 75(2), 335-346.
Stiglitz, J. (2003). Globalization and the economic role of the state in the new millennium. Industrial and Corporate Change, 12(1), 3-26.
Uzonwanne, M. C. (2018). Economic globalization and poverty reduction: A Nigerian perspective. Journal of Economics and Political Economy, 5(3), 410-423.
Wade, R. H. (2001). Point of view: The Rising Inequality of World Income Distribution. Finance & development, 38(004).
Wade, R. H. (2004). Is globalization reducing poverty and inequality? International Journal of Health Services, 34(3), 381-414.
Wallerstein, I. (1974). The rise and future demise of the world capitalist system: Concepts for comparative analysis. Comparative studies in society and history, 16(4), 387-415.
Anetor, F. O., Esho, E., &Verhoef, G. (2020). The impact of foreign direct investment, foreign aid and trade on poverty reduction: Evidence from Sub-Saharan African countries. Cogent Economics & Finance, 8(1), 1737347.
Baek, I., & Shi, Q. (2016). Impact of economic globalization on income inequality: Developed economies vs emerging economies. Global Economy Journal, 16(1), 49-61.
Bergh, A., & Nilsson, T. (2011).Globalization and absolute poverty–A panel data study.Bergh, Andreas and Bergh, Andreas and Nilsson, Therese, Globalization and Absolute Poverty – A Panel Data Study (2011). IFN Working Paper No. 862, Available at SSRN: https://ssrn.com/abstract=2363784 or http://dx.doi.org/10.2139/ssrn.2363784
Blowfield, M. (2007).Globalization and poverty. Business Strategy Review, 18(4), 35-38.
Dreher, A. (2006). Does globalization affect growth? Evidence from a new index of globalization. Applied economics, 38(10), 1091-1110.
Gourinchas, P. O., & Obstfeld, M. (2012).Stories of the twentieth century for the twenty-first. American Economic Journal: Macroeconomics, 4(1), 226-65.
Harrison, A., & McMillan, M. (2007).On the links between globalization and poverty. The Journal of Economic Inequality, 5(1), 123-134.
Harrison, A., & McMillan, M. (2007).On the links between globalization and poverty. The Journal of Economic Inequality, 5(1), 123-134.
Irogbe, K. (2014). The effects of globalization in Latin America, Africa, and Asia: A global south perspective. Lexington Books.
Kang-Kook, L. E. E. (2014). Globalization, income inequality and poverty: Theory and empirics. Social System Studies, 28, 109-134.
Kilic, C. (2015). Effects of Globalization on Economic Growth: Panel Data Analysis for Developing Countries. Petroleum-Gas University of Ploiesti Bulletin, Technical Series, 67(1).1 – 11.
Kilicarslan, Z., & Dumrul, Y. (2018). The impact of globalization on economic growth: empirical evidence from the Turkey. International Journal of Economics and Financial Issues, 8(5), 115-123.
Majidi, A. F. (2017). Globalization and economic growth: The case study of developing countries. Asian Economic and Financial Review, 7(6), 589-599.
Milanovic, B. (2005). Can we discern the effect of globalization on income distribution? Evidence from household surveys. The World Bank Economic Review, 19(1), 21-44.
Nguea, S. M., Noumba, I., &Noula, A. G. (2020). Does Globalization improve Health in Sub-Saharan African countries?''. Economics Bulletin, 40(4), 3033-3045.
Nwadike, G. C., Johnmary, A. K., &Alamba, C. S. (2020). Impact of trade openness on Nigerian economic growth: an empirical investigation, 1970–2011. Foreign Trade Review, 55(2), 239-247.
Pesaran, M. H., & Shin, Y. (1999). An autoregressive distributed lag modelling approach to cointegrationanalysis’ in S Strom, (ed.), Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium, Cambridge: Cambridge U P.
Phillips, P. C., &Perron, P. (1988).Testing for a unit root in time series regression. Biometrika, 75(2), 335-346.
Stiglitz, J. (2003). Globalization and the economic role of the state in the new millennium. Industrial and Corporate Change, 12(1), 3-26.
Uzonwanne, M. C. (2018). Economic globalization and poverty reduction: A Nigerian perspective. Journal of Economics and Political Economy, 5(3), 410-423.
Wade, R. H. (2001). Point of view: The Rising Inequality of World Income Distribution. Finance & development, 38(004).
Wade, R. H. (2004). Is globalization reducing poverty and inequality? International Journal of Health Services, 34(3), 381-414.
Wallerstein, I. (1974). The rise and future demise of the world capitalist system: Concepts for comparative analysis. Comparative studies in society and history, 16(4), 387-415.
