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

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  • Petra Vujakovic
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    Abstract

    In this article, a new composite globalisation index will be presented. With its 21 variables, it 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 in this New Globalisation Index (NGI). Firstly, five variables that have until now not been used in globalisation indices enter the calculations. Secondly, 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 subindices 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 a period between 1995 and 2005.

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    File URL: http://www.fiw.ac.at/fileadmin/Documents/Publikationen/Working_Paper/N_044-DiFilippo.pdf
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    Bibliographic Info

    Paper provided by FIW in its series FIW Working Paper series with number 046.

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    Length: 36
    Date of creation: Feb 2010
    Date of revision:
    Handle: RePEc:wsr:wpaper:y:2010:i:046

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    Postal: FIW Project Office Austrian Institute of Economic Research Arsenal Objekt 20 A-1030 Vienna
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    Related research

    Keywords: globalisation; openness of economies; measurement of openness; measurement of globalisation; integration; composite index;

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    Cited by:
    1. 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 20, December.

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