case study

www.sciedu.ca/rwe

Research in World Economy

Vol. 3, No. 1; March 2012

Globalization and Economic Growth: A Case Study in
A Few Developing Countries (1980-2010)
Abdolmajid Arfaei Moghaddam (Corresponding author)
Department of Civilization and Government Studies,
Faculty of Human Ecology, University Putra Malaysia,
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E-mail: [e-mail]

Ma’rof Redzuan
Department of Social and Development Science,
Faculty of Human Ecology, University Putra Malaysia,
Tel: [phone]
Received: December 12, 2011 doi:10.5430/rwe.v3n1p54 E-mail: [e-mail]

Accepted: January 28, 2012

Published: March 15, 2012

URL: http://dx.doi.org/10.5430/rwe.v3n1p54

Abstract
The objective this study is to investigate the globalization indicators for measuring and evaluating the economic development scale. The output generated from eight selected countries revealed a fast improvement in the Gross
Domestic Product (GDP) and economic growth rate. Significantly, attraction of Foreign Direct Investment (FDI) and rise of FDI as a percentage of GDP in these countries have impacted positively on foreign trade at international and regional levels. The data from these countries show that substantial growth in their economies is related unprecedented high FDI inflows. Generally, they had economic development and access to high income and as active players in the global economy.
Keywords: Globalization, FDI, GDP, Exports and Imports of Goods, Economic Growth Rate
1. Introduction
The process of globalization brings about quick transformation and a quantum leap in various aspects of global society. According to UNDP (1999, p 25): “Globalization, a dominant force in the 20th century’s last decade, is shaping a new era of interaction among nations, economies and people. It is increasing the contacts between people across national boundaries in economy, in technology, in culture and in governance”. In fact, globalization has

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