Growth effect of globalization at different income levels of countries.

<p>Notes: Dependent variable: real GDP per capita in logarithm. Cross-country panel data consisting of annual spanning 1980–2008.</p><p>Estimation method: Dynamic GMM estimator Arellano and Bond (1991).</p><p>A full set of year dummies is included to control for common time effects. The full regressions includes lagged of GDP per capita, government consumption, consumer price index, secondary school enrolment, gross capital formation, Liquid liability and ICRG.