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How to Measure Globalisation? A New Globalisation Index (NGI)

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  • Petra Vujakovic

Abstract

With its 21 variables, the new composite globalisation index presented in this paper accounts for the multidimensionality of this phenomenon instead of relying purely on economic indicators. As compared to other existing globalisation indices, three major innovations are introduced: First, five variables that have until now not been used in globalisation indices enter the calculations. Second, geographical distances between countries are incorporated into the index in the trade variable, so as to account for the distinction between globalisation and regional integration. A final innovation is a methodological one, which concerns the use of a statistical method (principal component analysis) to form sub-indices according to the statistical features of the variable structure. A control for country size is employed for significantly affected variables, as was done in some other globalisation indices before. The final index contains 70 countries and covers the period of 1995 to 2005.

Suggested Citation

  • Petra Vujakovic, 2009. "How to Measure Globalisation? A New Globalisation Index (NGI)," WIFO Working Papers 343, WIFO.
    • Handle: RePEc:wfo:wpaper:y:2009:i:343
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    File URL: https://www.wifo.ac.at/wwa/pubid/36681
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    Cited by:

    1. Balsalobre-Lorente, Daniel & Driha, Oana M. & Sinha, Avik, 2020. "The dynamic effects of globalization process in analysing N-shaped tourism led growth hypothesis," MPRA Paper 100078, University Library of Munich, Germany.
    2. Parisa SAMIMI & Guan Choo LIM & Abdul Aziz BUANG, 2011. "Globalization Measurement: Notes on Common Globalization Indexes," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(7), pages 1-20, December.
    3. Christopher Marquis & Michael W. Toffel & Yanhua Zhou, 2011. "Scrutiny, Norms, and Selective Disclosure: A Global Study of Greenwashing," Harvard Business School Working Papers 11-115, Harvard Business School, revised Jul 2015.

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