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Quantifying globalization

Author

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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.

Suggested Citation

  • Torben Andersen & Tryggvi Thor Herbertsson, 2005. "Quantifying globalization," Applied Economics, Taylor & Francis Journals, vol. 37(10), pages 1089-1098.
  • Handle: RePEc:taf:applec:v:37:y:2005:i:10:p:1089-1098
    DOI: 10.1080/00036840500118200
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. 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.
    2. 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.
    3. Mishra, SK, 2017. "Measuring Degree of Globalization of African Countries on Almost Equimarginal Contribution Principle," MPRA Paper 82614, University Library of Munich, Germany.
    4. 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.
    5. Zhou, X. & Li, Kui-Wai, 2010. "Causality between Openness and Indigenous Factors among World Economies," MPRA Paper 36421, University Library of Munich, Germany.
    6. 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.
    7. Rudolph , Alexandra & Figge, Lukas, 2015. "How does globalization affect ecological pressures? A robust empirical analysis using the Ecological Footprint," Working Papers 0599, University of Heidelberg, Department of Economics.
    8. 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.
    9. Manijeh Sabi, 2007. "Globalization and Human Development," Papers of the Annual IUE-SUNY Cortland Conference in Economics,in: Proceedings of the Conference on Globalization and Its Discontents, pages 102-119 Izmir University of Economics.
    10. 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.
    11. Gurgul, Henryk & Lach, Łukasz, 2014. "Globalization and economic growth: Evidence from two decades of transition in CEE," Economic Modelling, Elsevier, vol. 36(C), pages 99-107.
    12. 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.
    13. 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.
    14. 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.

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