Disaggregated role of economic, social and political globalization on quality of life

This paper attempts to estimate the  impact of  economic, social, and political globalization on the quality of life (QOL), using data reported by the KOF index of globalization. From 1990 to 2020, we analyze panel data from seven developing nations. A wide range of economies, including Bangladesh, India, Sri Lanka, Nepal, Thailand, Pakistan, and Vietnam, are under consideration. Analyzing our results from a symmetric ARDL model, this paper clarifies that political globalization contributes to higher QOL in the selected economies. The NARDL estimation demonstrates that globalization's positive changes on the economic and political segment have lasting positive effects on QOL. Over a long time, the QOL has weakened because of the adverse changes in globalization's economic structures. However, short-run asymmetric outcomes for individual countries identify a nonlinear association between economic globalization in India and Nepal, political globalization and the development of Sri Lanka and Pakistan, and social globalization in Sri Lanka and Vietnam.