Disparities in Globalization of the World Economies
AbstractThis paper constructs composite indices of globalization of 131 countries spread over the five continents and classified into World-I, World-II and World-III countries. KOF, the Business Cycle Research Institute in the Swiss Federal Institute of Technology, Zurich is the source of data used in this study. The Composite Indices of Globalization have been computed by Pena’s method, which attributes the most desirable properties to the indices so constructed. On the basis of these indices, the paper investigates into the trends of globalization and disparities in globalization for a period of 11 years (1999-2009). Disparities have been obtained as the Gini’s coefficient as well as the coefficient of variation. The study finds that in all the three worlds, the trends in globalization are increasing while the trends in the disparities in globalization are decreasing, which suggest global integration and convergence of national economies to a global order. We also find that social indicators of globalization explain the variations in per capita income more potently than economic or political indicators of globalization do.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41936.
Date of creation: 13 Oct 2012
Date of revision:
Globalization; composite index; disparities; global integration; convergence; per capita GDP in USD;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-27 (All new papers)
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- Mishra, SK, 2012. "A comparative study of trends in globalization using different synthetic indicators," MPRA Paper 38028, University Library of Munich, Germany.
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