The impact of multipolarity on economic growth: A cross-country analysis

The concept of "multipolarity", which started to come to the fore with the changing world order, gradually began to take its place in the literature. Investigating the relationship of multipolarity, which is a new concept, with economic growth will help to gain ideas about how this transformation will affect the world economy. In this study, the effect of economic multipolarity on growth is examined for this purpose. In this context, the relationship between economic multipolarity and growth in the 2000- 2019 period data set of 57 countries was investigated with the panel AMG (Augmented mean group estimator) method. Economic growth as the dependent variable while creating the econometric model; Multipolarity index, labor, capital and patent applications were chosen as independent variables. Analysis findings indicate that labor, capital and patent applications have statistically significant and positive effect on economic growth; On the other hand, it was seen that the multipolarity index had a statistically significant and negative effect on economic growth. This finding reveals that as the index value decreases, that is, as the degree of multipolarity increases, the growth increases.