// First version: October 2002.The paper presents an index of globalization covering its three main dimensions: economic integration, social integration, and political integration. Using panel data for 123 countries in 1970-2000 it is analyzed empirically whether the overall index of globalization as well as sub-indexes constructed to measure the single dimensions affect economic growth. The results show that globalization promotes growth – but not to an extent necessary to reduce poverty on a large scale. The dimensions most robustly related with growth refer to actual
economic flows and restrictions in developed countries. Although less robustly, information flows also promote growth whereas political integration has no effect.
