Quality of Life and Globalization: Econometric Evidence from Asian Economies

Abstract

The impact of global integration on economic growth is largely discussed in the literature. However, little attention has been paid to analyze the association of globalization with quality of life. In particular, the role of globalization in influencing the quality of life in Asian economies has not been yet analyzed. This study investigates the effect of globalization on quality of life of Asian economies using a comprehensive measure of globalization including its disaggregated dimensions that are economic, social and political forms of globalization. The results show that globalization helps to enhance quality of life of Asian economies. All dimensions of globalization, however, are not causing significant effect on quality of life. Political globalization does not increase quality of life while other forms of globalization increase quality of life.