This study investigates the relationship between globalization and economic growth. Globalization has its effect on economic growth either positively or negatively. Globalization affects positively the economy of countries with welleducated workers and better financial systems. However, low-income countries do not benefit from it. The positive impacts of globalization on economic growth are several. It makes markets more efficient by increasing competition. This creates variety and leads to economic growth. Moreover, it increases foreign direct investment rates by facilitating technology transfer, industrial restructuring and the growth of global companies. A countries‟ economy can benefit from this point through taxes on the foreign investment or the increase of employment rates. However, globalization has some negative impacts on economy. If a country‟s economy become at risk, it may affect large number of countries. During the global financial crisis In 2007and 2008, the United States faced a crisis in the subprime mortgage market and this crisis extended to other countries in Europe and Asia even in the Gulf countries. Some countries‟ economies collapsed because of this crisis. This study is significant because it helps experts and the readers to know more aspects of globalization and economic growth of developing and developed Countries.