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The Effects of the U.S. Hegemony on Economic Growth in East Asia, and the Middle East and North Africa

Author Affiliations

  • 1 Department of Political Science, Kent State University, Ohio, UNITED STATES

Int. Res. J. Social Sci., Volume 3, Issue (4), Pages 1-7, April,14 (2014)

Abstract

This paper presents an analysis of the likelihood of economic growth in Asian countries with empirical results. The model selected for the analysis is the OLS model. By using cross-sectional data of 113 countries, it deals with the effects of the U.S. hegemony on economic growth in East Asia, and the Middle East and North Africa. Thirteen explanatory variables included: Trade balance with USA, Political Stability, Export/ GDP(%), Resource, Population, Foreign Direct Investment, Human Development Index, Corruption Perception Index, Rule of Law, Control of Corruption, Economic Freedom, Public Institution Index, and Government Effectiveness. The results of the estimation by the OLS model help to analyze the influence of the explanatory variables on the possibility of being successful economically showing how Trade with the U.S. as well as other variables explain economic growth. Based on the results, the possibility of economic success significantly depends on Trade with the U.S. which represents the U.S. hegemony.

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