This study used Pedroni’s (1999, 2000, 2004) cointegration tests to re-investigate whether a
long-run relationship exists between economic, social, and political globalization indices and
the economic growth of ASEAN countries. The results lend credence to the presence of
long-term equilibrium. To accommodate for serial correlation and endogeneity, we adopted the
FMOLS estimation method to investigate the individual and group influence of the three
constructs of globalization on real GDP. The group regression of FMOLS results, indicates that
in the ten member states of ASEAN, economic globalization has a positive influence on
economic growth whereas social and political globalization has negative effects. Economic
globalization is shown to be more effective than political or social globalization in driving the
growth of the economy. According to the experience of ASEAN countries, governments should
be more active in promoting international trade and foreign investment while striving for
increased participation in economic organizations and adopting outward-oriented policies,
encouraging interaction with other economies. Governments should also pay close attention to
the negative impact of political and social globalization on economic growth.