Abstract
Although the relation between economic development and economic globalization has been examined in the literature, the relation between linguistic diversity, economic development and economic globalization index has not been discussed much in the literature. With this aspect of the study, it is aimed to contribute to the literature. In this study, the relationship between linguistic diversity, economic globalization and economic development for 20 OECD founding countries between 1995 and 2018 was determined by Pesaran (2008) cross-section dependency test, Durbin-Hausman (2008) panel cointegration test and Emirmahmutoglu and Kose (2011) panel causality tests. According to the panel causality test results of Emirmahmutoglu and Kose (2011), it was found that there is a bidirectional causality relationship between linguistic diversity and economic development in OECD countries, a bidirectional causality relationship between economic development and economic globalization, and a unidirectional causality relationship from linguistic diversity to economic globalization. Keywords: Language diversity, economic development, economic globalization, panel causality test. DOI: 10.7176/JLLL/71-07 Publication date: August 31 st 2020
Highlights
Today, the increasing international relationships make insufficient for nations to communicate with their native languages, and make a necessity for nations to learn the languages of different countries
Economic globalization index was accessed from the database ‘www.theglobaleconomy.com’; linguistic diversity index was accessed from the database ‘https://knoema.com’; and human development index, as an indicator of economic development, was accessed from OECD statistics database
Along with globalization, which is expressed as the internationalization of economic relations, increases in human mobility, capital mobility, information flow and technology level cause the involuntary disappearance of geographical borders and the integration of world economies
Summary
The increasing international relationships make insufficient for nations to communicate with their native languages, and make a necessity for nations to learn the languages of different countries. With the increasing international integration, the increasing importance of communication between people in the globalized world economy draws attention to the study of the relationship between language and economy as an interdisciplinary field. In 1965, the concept ‘the economics of language’ was introduced into the literature from an economic perspective, which considers language as a preferred object, with the article published by Jacob Marshack in the field of behavioral science. The concept ‘the economics of language’ has been studied in the literature by Grin (1996b, 2003), Vaillancourt (1983) and Grin, Sfreddo, and Vaillancourt (2011). The relationship between language and development, the way language affects economic development concerns individuals working in various disciplines
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