The effects of globalization on the economy of developing countries

Globalization an undeniable issue with economic, political and social aspects. In other words, globalization is economic, political, social and cultural rights beyond national boundaries and has received major attention of economist and politician in the last few decades. This study aims to investigate the effects of economic globalization, political globalization and social globalization on economic growth in 74 developing countries which are divided into two groups of upper middle income and lower middle income using fixed effected method. The Indicators used for globalization are account restrictions and period studied (1970-2016) .The impact of the indicators on the overall globalization, economic globalization, social globalization and political globalization in developing countries in two groups with higher incomes and lower than average are positive and meaningful. Hence, this study confirms the positive effects of globalization in all aspects on economic growth in developing countries in two groups with higher incomes and lower than average.