Ali, Dr. Sahar Kareem Gatae (2026) The Role of Global Economic Blocs in International Economic Growth. International Conference of Economics, Finance and Accounting Studies, 30. pp. 1-13.

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Abstract

This study investigates the effect of the global economic blocs on international economic growth for eight economic blocs of the world during the period of 2000-2024. The study examines the impact of intra-bloc trade, foreign direct investment, trade openness on economic growth with all other variables controlled for, including inflation, population growth and gross capital formation. The study uses the Panel ARDL approach using the Pooled Mean Group estimator, which performs well for heterogeneous panels with level or first difference integrated variables. The descriptive results indicate significant differences between blocs in growth performance, level of integration with trade, investment inflows and macroeconomic stability. The diagnostic tests show no serious cross sectional dependence and the results of the panel unit root test suggest that a dynamic panel ARDL approach is appropriate. The long-run estimates show that the inflation has negative impact on economic growth while the other variables are positive. The short run results validate the existence of a stable adjustment process to long-run equilibrium as a negative and significant error correction process. The individual short run effects also indicate that blocs have varying degrees of adjustment, with higher adjustment in BRICS, CPTPP, and EU. The findings indicate that economic blocs are favourable for international growth when international trade integration is combined with the efforts of attracting investments, productive capital, and macroeconomic stability.

Item Type:	Article
Subjects:	A General Works > AI Indexes (General)
Depositing User:	admin eprints
Date Deposited:	17 Jun 2026 14:41
Last Modified:	17 Jun 2026 14:41
URI:	http://eprints.umsida.ac.id/id/eprint/16594

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