TAILIEUCHUNG - Impacts of globalization on industrial growth: Evidence from KOF globalization analysis for asian countries
This suggested that increasing the level of integration with the rest of the world would have negative impacts on industrial growth, while FDI enterprises still hold irreplaceable on these analyses, this paper suggests some useful solutions to Vietnam’s government for industrial development strategies. Governments need good preparation in long-term, focus on improve both labor skills and academic performance, invest on technology, R&D, enhancing management capacity and attract more effective FDI projects. | Bùi Thị Phương Hồng Tạp chí KHOA HỌC & CÔNG NGHỆ 139(09): 57 - 62 IMPACTS OF GLOBALIZATION ON INDUSTRIAL GROWTH: Evidence from KOF Globalization analysis for Asian countries Bui Thi Phuong Hong* College of Technology - TNU SUMMARY Among the biggest dilemmas developing countries face is a hard questions “Should they open their economies up to the globalization process or adopt a cautious approach to avoid risks?”. There are fears that globalization would lead to global competition, environmentally damaging production and consumption patterns, high labour unemployment rates and such other fears as loss of local control over domestic economic programmes, as well as de-industrialization. Hence, in this paper, the author evaluated impacts of globalization on industrial growth by numerous quantitative analysis using Fixed and Random Effect Estimation with sample data from 33 Asian countries within 23 years (1990-2012) following the Cobb-Douglas model and KOF globalization analysis. This suggested that increasing the level of integration with the rest of the world would have negative impacts on industrial growth, while FDI enterprises still hold irreplaceable on these analyses, this paper suggests some useful solutions to Vietnam’s government for industrial development strategies. Governments need good preparation in long-term, focus on improve both labor skills and academic performance, invest on technology, R&D, enhancing management capacity and attract more effective FDI projects. Keywords: Globalization, Industrial Growth, Cobb-Douglas model, KOF globalization, Foreign Direct Investment INTRODUCTION* Al-Rodhan et al. (2006) and Albrow et al. (1990) defined globalization is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. Globalization broadly refers to the expansion of global linkages, the organization of social life on a global scale, and the growth of a .
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