Modelling Linkage of Globalization and Financial Development to Human Development in CLMV Region

Chhorn, Theara and Chhorn, Dina (2017): Modelling Linkage of Globalization and Financial Development to Human Development in CLMV Region.

Abstract

Several existing theories emphasize the strong positive effects of globalization and financial development on human development, either because of the rising economic welfare and the higher productivity of workers generating from increasing skill specialization or because financial development will create an increase of investment in education which is the major source of economic growth and human development. We show that there is no such a huge promise in the case of CLMV countries. The globalization and financial development does unquestionably generate statistically positive impact but with a small magnitude. We suggest that this informative finding reflects the rapid increase of globalization and financial development in CLMV countries ameliorating significantly only human development of urban population but decreasing for rural population. This indicates the benefits of globalizing forces concentrate in urban region where the huge majority of CLMV population are living in rural area.

• Item Type: MPRA Paper
• Commentary on: Eprints 1 not found.
• Language: English
• Keywords: Financial Development, Globalization, Human Development, Analysis of Economic Significance, CLMV Region
• Subjects: C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General; C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables; C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C33 - Panel Data Models ; Spatio-temporal Models; C - Mathematical and Quantitative Methods > C4 - Econometric and Statistical Methods: Special Topics; F - International Economics > F6 - Economic Impacts of Globalization; G - Financial Economics > G0 - General; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O15 - Human Resources ; Human Development ; Income Distribution ; Migration

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