Investigation of globalization and economic growth relations with different dimensions in BRICS-T countries

It is seen that the effects of globalization on every stage of life is felt. Some of these effects provide advantages to people, societies and countries, and some of them cause negativity. There are serious developments in communication opportunities with globalization and technological developments can be used simultaneously all over the world. Another social benefit of globalization to societies is the increase of relations with cultures outside the country and providing social development. Although globalization provides social advantages, it causes the erosion of local cultures, and loss old importance of national language, beliefs, customs and traditions. From a political point of view, with advents of the globalization, countries have the chance to establish a closer relationship with each other and have the opportunity to act jointly with international organizations. In addition, they have established deeper economic relations with each other through the increase of political relations. When we look at the economic globalization, which is seen as the point of emergence of globalization, it is seen that globalization has become a single market in consumption thanks to globalization. Thanks to globalization in production, it is seen that countries have achieved a significant speed in accessing technological developments and new inventions and advantages such as the mobility of production factors. In addition to these advantages of globalization, countries remain in a serious race in the economic sense with the globalization of competition. In this study, it is examined the relationship between economic growth and general globalization and also economic, social and political globalization in BRICS-T countries for the periods of 1990-2014. As a result of the analysis of the FMOLS coefficient estimator conducted within the scope of the study, it is seen that economic growth in BRICS-T countries has a significant positive and statistical effect on general, economic, social and political globalization. The causality relationship between the variables is analyzed by Dumitrescu-Hurlin causality test. As a result of the analysis, it was concluded that there is a bidirectional causality relationship between capital accumulation and economic growth and political globalization and economic growth. In addition, the Dimitrescu-Hurlin causality test results showed that there is a one-way causality relationship from general, economic and social globalization to economic growth.