The Globalization and Peace Nexus: Findings Using Two Composite Indices
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Drawing on the democratic peace theory, the democracy promoting globalisation hypothesis and the conflict inhibiting effects of international trade literature the paper examines empirically the link between peace and globalization. To this effect, it uses two composite indices. The KOF index that allows for the multidimensionality of the globalization process and the GPI that adopts and quantifies a broader notion of peace, allowing for both an internal as well as an external dimension. The sample, dictated solely by data availability, consists of 132 countries and covers the period 2008–2012. The findings from estimating a dynamic panel model using various estimators seem to marginally tilt in favor of a peace promoting globalization hypothesis.
KeywordsPeace Globalization Panel models
The authors wish to thank two anonymous referees of this journal for their insightful comments and constructive suggestions that helped improve the paper. Previous versions have also benefited from the comments by Tania Yazbeck, Paul Dunne and the participants of the: 4th Panhellenic Conference on Economy and Democracy, University of Thessaly, 23–24 November 2015; 10th Defence and Security Economics Workshop, Carleton University, 6 November 2015; 3rd International Conference on Global Economics and Governance, Ming Chuan University, 3–5 September 2015; 19th Annual International Conference on Economics and Security, University Pierre-Mendès 25–27 June 2015.
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