To overcome these shortcomings, this study re-examined the issue of economic growth and
globalization in ASEAN countries between 1970 and 2008, using powerful panel cointegration
tests. OLS wasn’t used, due to not being applicable to nonstationary series. However, we did
adopt regression analysis which can be applied to cointegrated series to analyze the impact of
globalization on economic growth.
The remainder of this paper is organized as follows. Section II describes the data used in this
study. Section III briefly presents the methodology and discusses the empirical results, and
Section IV reviews our conclusions.