IDEAS home Printed from https://ideas.repec.org/a/ksp/journ6/v4y2017i4p345-353.html
   My bibliography  Save this article

Measuring degree of globalization of African Countries on almost equimarginal contribution principle

Author

Listed:
  • Sudhanshu K. MISHRA

    () (North-Eastern Hill University, Shillong, 91 - 793022, New Delhi, India.)

Abstract

This paper is an exercise in construction of an alternative globalization index for 43 countries in Africa. It has used a new method for measurement of the degree of globalization (or construction of a globalization index) based on minimization of the Euclidean norm of the Shapley values, the concept borrowed from the cooperative game theory. It assigns weights to constituent variables such that their mean expected marginal contribution to the synthetic index is as equitable as possible. Since this index is based on combinatorial logic, it is also less likely to be affected by outlier data points. Globalization index for 43 African countries (for a time series of 45 years, 1970-2014) has been constructed. The new index has been compared with the KOF index of globalization for the countries under study. As its validation, it has been found that the index has stronger correlation (vis-à-vis the KOF index) with Human Development index, Corruption Perception index, Freedom index and the indicators of abject poverty in the African countries. Viewed as such the new index represents globalization closely in connection with other relevant socio-economic measures than its rival (KOF index of globalization) as well as it is based on more plausible theoretical premises based on marginal contribution rather than correlation.

Suggested Citation

  • Sudhanshu K. MISHRA, 2017. "Measuring degree of globalization of African Countries on almost equimarginal contribution principle," Journal of Economics Bibliography, KSP Journals, vol. 4(4), pages 345-353, December.
  • Handle: RePEc:ksp:journ6:v:4:y:2017:i:4:p:345-353
    as

    Download full text from publisher

    File URL: http://www.kspjournals.org/index.php/JEB/article/download/1488/1513
    Download Restriction: no

    File URL: http://www.kspjournals.org/index.php/JEB/article/view/1488
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Sudhanshu K. MISHRA, 2016. "BA Note on Construction of a Composite Index by Optimization of Shapley Value Shares of the Constituent Variables," Turkish Economic Review, KSP Journals, vol. 3(3), pages 466-472, September.
    2. Laura Alfaro & Sebnem Kalemli-Ozcan & Vadym Volosovych, 2008. "Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation," The Review of Economics and Statistics, MIT Press, vol. 90(2), pages 347-368, May.
    3. Sudhanshu K Mishra, 2013. "Global Optimization of Some Difficult Benchmark Functions by Host-Parasite Coevolutionary Algorithm," Economics Bulletin, AccessEcon, vol. 33(1), pages 1-18.
    4. repec:ksp:journ3:v:4:y:2017:i:3:p:335-351 is not listed on IDEAS
    5. Jomo Kwame Sundaram & Oliver Schwank & Rudiger von Arnim, 2011. "Globalization and development in sub-Saharan Africa," Working Papers 102, United Nations, Department of Economics and Social Affairs.
    6. Axel Dreher, 2006. "Does globalization affect growth? Evidence from a new index of globalization," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1091-1110.
    7. Sudhanshu K. MISHRA, 2017. "Almost equi-marginal principle based composite index of globalization: China, India and Pakistan," Journal of Economic and Social Thought, KSP Journals, vol. 4(3), pages 335-351, Seprember.
    8. repec:ksp:journ4:v:5:y:2018:i:1:p:46-59 is not listed on IDEAS
    9. Sudhanshu K. MISHRA, 2018. "Globalization under hysteresis: A study of Eastern Bloc Countries, China and India," Journal of Social and Administrative Sciences, KSP Journals, vol. 5(1), pages 46-59, March.
    10. Heldring , Leander & Robinson , James A., 2013. "Colonialism and development in Africa," African Economic History Working Paper 5/2012, African Economic History Network.
    11. Miles Larmer, 2010. "Social movement struggles in Africa," Review of African Political Economy, Taylor & Francis Journals, vol. 37(125), pages 251-262, September.
    12. Torben Andersen & Tryggvi Thor Herbertsson, 2005. "Quantifying globalization," Applied Economics, Taylor & Francis Journals, vol. 37(10), pages 1089-1098.
    13. Mishra, SK, 2006. "Performance of Differential Evolution and Particle Swarm Methods on Some Relatively Harder Multi-modal Benchmark Functions," MPRA Paper 449, University Library of Munich, Germany.
    14. Petra Vujakovic, 2010. "How to Measure Globalisation? A New Globalisation Index (NGI)," FIW Working Paper series 046, FIW.
    15. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sudhanshu K. MISHRA, 2017. "Trends in globalization of select Asian countries," Journal of Economic and Social Thought, KSP Journals, vol. 4(4), pages 451-466, December.

    More about this item

    Keywords

    Globalization; Synthetic index; African Countries; Shapley values; Equi-marginal contribution.;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ksp:journ6:v:4:y:2017:i:4:p:345-353. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bilal KARGI). General contact details of provider: http://www.kspjournals.org .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.