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Quantifying globalization

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  • Torben Andersen
  • Tryggvi Thor Herbertsson

Abstract

Globalization is much debated, but is it possible to make reliable ranks of which countries are the most integrated internationally? Traditionally resort is taken to trade measures, but even considering only economic integration this measure disregards a number of aspects. This paper proposes a single measure or index of globalization based on several indicators of economic integration combined by use of the multivariate technique of factor analysis. The index is calculated for 23 OECD countries, and among the findings are that Ireland is ranked as the most globalized country during the 1990s, while the UK was at the top during the 1980s. Some of the most notable changes in the rankings are the decline of the USA, Canada, and to a lesser extent Japan and Norway. There are notable improvements in the ranking for Finland, Italy, Portugal, Spain and Sweden. For Portugal and Spain the changes seem to follow EU membership in the mid-1980s.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 10 ()
Pages: 1089-1098

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Handle: RePEc:taf:applec:v:37:y:2005:i:10:p:1089-1098

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References

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  1. Dani Rodrik, 1997. "Has Globalization Gone Too Far?," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 57.
  2. Rodrik, Dani, 1996. "Why do More Open Economies Have Bigger Governments?," CEPR Discussion Papers 1388, C.E.P.R. Discussion Papers.
  3. Frankel, Jeffrey A & Rose, Andrew K, 1996. "The Endogeneity of the Optimum Currency Area Criteria," CEPR Discussion Papers 1473, C.E.P.R. Discussion Papers.
  4. Agell, J., 1998. "On the Benefits from Rigid Labour Markets: Norms, Market Failures, and Social Insurance," Papers 1998:17, Uppsala - Working Paper Series.
  5. Torben M. Andersen, 2003. "European integration and the welfare state," Journal of Population Economics, Springer, vol. 16(1), pages 1-19, 02.
  6. Robert E. Baldwin, 2004. "Openness and Growth: What’s the Empirical Relationship?," NBER Chapters, in: Challenges to Globalization: Analyzing the Economics, pages 499-526 National Bureau of Economic Research, Inc.
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Citations

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Cited by:
  1. Rao, B. Bhaskara & Vadlamannati, Krishna Chaitanya, 2011. "Globalization and growth in the low income African countries with the extreme bounds analysis," Economic Modelling, Elsevier, vol. 28(3), pages 795-805, May.
  2. Li, Kui-Wai & Pang, Iris A J & Ng, Michael C M, 2007. "Can Performance of Indigenous Factors Influence Growth and Globalization?," MPRA Paper 35299, University Library of Munich, Germany.
  3. Li, Kui-Wai & Zhou, Xianbo, 2008. "The Commutative Effect and Casuality of Openness and Indigenous Factors Among World Economies," MPRA Paper 35298, University Library of Munich, Germany.
  4. Gurgul, Henryk & Lach, Łukasz, 2014. "Globalization and economic growth: Evidence from two decades of transition in CEE," MPRA Paper 52231, University Library of Munich, Germany.
  5. Li, KW & Pang, Iris A.J. & Ng, Michael C.M., 2007. "Can Performance of Indigenous Factors Influence Growth and Globalisation?"," MPRA Paper 2083, University Library of Munich, Germany.
  6. Fischer, Christian & Schornberg, Sebastian, 2006. "The competitiveness situation of the EU meat processing and beverage manufacturing sectors," 98th Seminar, June 29-July 2, 2006, Chania, Crete, Greece 10028, European Association of Agricultural Economists.
  7. Kessler, Johannes, 2007. "Globalisierung oder Integration. Korrespondenzprobleme bei der empirischen Erfassung von Globalisierungsprozessen," TranState Working Papers 53, University of Bremen, Collaborative Research Center 597: Transformations of the State.
  8. Zhou, X. & Li, Kui-Wai, 2010. "Causality between Openness and Indigenous Factors among World Economies," MPRA Paper 36421, University Library of Munich, Germany.
  9. Vadlamannati, Krishna Chaitanya, 2008. "Do Elections Slow Down Economic Globalization Process In India? It’S Politics Stupid !," MPRA Paper 10139, University Library of Munich, Germany.
  10. Vadlamannati, Krishna Chaitanya, 2008. "The triumph of globalization at the expense of minority discriminations? – An empirical investigation on 76 countries, 1970 – 2005," MPRA Paper 11494, University Library of Munich, Germany.

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