Year: 2026 | Month: April | Volume 17 | Issue1
Social Globalization and Human Development: Panel Evidence from Developing Economies (1990–2018)
Gynendra Bhandari and Anil Bhuimali
DOI:10.30954/2230-7311.1.2026.19
Abstract:
We investigated the relationship between Social Globalization Index and Human development Index using panel data from 20 countries over 29 years. Human development is measured by the UNDP Human Development Index (HDI) and is a proxy for welfare outcome, while Social Globalization is assessed using the KOF Social Globalization Index. Per capita income and Trade openness are included as controls. Results from Fixed effects, Random effects, Generalized Least Square and Driscoll-Kraay robust standard error consistently show that an increase in Social Globalization has a significant and positive impact on HDI across all specifications. The impact remains robust even after accounting for cross-sectional dependence. Our empirical findings indicate promotion of Social Globalization by enhancing interpersonal connections, information flows and cultural exchange as it leads to improvement in human welfare. Our results suggest for more liberal policies for developing countries in order to achieve better welfare outcomes.
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