Globalization and Economic Growth: Empirical Evidence on the ...
According to the theoretical literature, globalization enhances economic growth by allocating resources more efficiently as OIC countries that ...
Figure 1
The broad effects of globalization on different aspects of life grab a great deal of attention over the past three decades. As countries, especially developing countries are speeding up their openness in recent years the concern about globalization and its different effects on economic growth, poverty, inequality, environment and cultural dominance are increased. As a significant subset of the developing world, Organization of Islamic Cooperation (OIC) countries are also faced by opportunities and costs of globalization. <anchor>Figure 1</anchor> shows the upward trend of economic globalization among different income group of OIC countries.
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# Figure 1

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Average economic globalization (KOF index) by income groups.