Abstract
This paper investigates the wide range of consequent and contextual effects of globalization on economic growth, foreign direct investment (FDI), and migration patterns in 50 developing countries.
Although globalization presents a potential window of opportunity for economic growth, its effects are not automatic nor universal. The findings reveal moderate positive correlations between GDP growth, FDI, and net migration, suggesting the effect of globalization is mediated by structural and institutional forces, such as governance quality, infrastructure, and policy. Even though FDI and migration have only minor effects on economic development, their success is contingent on the ability of a country to utilize its potential for this type of opportunity. The results of the study indicate that globalization is constrained in the absence of comprehensive institutional systems and that government interventions should prioritize those aspects that enhance its usefulness and reduce its negative impact.
Based on the findings of the research, it is concluded that developing countries need to concentrate their efforts on institutional strengthening, human capital development, and inclusive policy frameworks, to leverage the opportunities of globalization for achieving sustainable growth.
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