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Globalization of National Economies, 1975-2005

In: Proceedings of the Conference on Globalization and Its Discontents

  • Mustafa Ismihan

    (Atýlým University)

  • Hasan Olgun

    (Baþkent University)

  • Fatma M. Utku-Ýsmihan

    (MARA)

Registered author(s):

    Recent studies on economic globalization have used various indicators, such as the ratio of trade-to-GDP and the ratio of FDI-to-GDP, to analyze the globalization performances of national economies. Although each indicator is useful in itself, our contention is that a single composite indicator (index) can provide more comprehensive information and would enable policy-makers and researchers to compare and rank the globalization performances of different countries, country groups and regions in a given year (or period) and over time. Accordingly, in this paper, we developed the economic globalization index to measure the extent of globalization of national economies. We have constructed the economic globalization index for the period 1975-2005. The overall results indicate that rich countries tend to be more globalized than poor countries. Furthermore, rich countries have improved their globalization –relative global integration level- from 1975 to 2005; however, many of poor countries’ relative levels of global integration have deteriorated during the same period. Our results seem to be in line with studies that characterize the recent situation in the world as “truncated globalization” or simply “triadization”.

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    This chapter was published in:
  • Oguz Esen & Ayla Ogus (ed.), 2007. "Proceedings of the International Conference on Globalization and Its Discontents," Proceedings of the IUE-SUNY Cortland Conference in Economics, Izmir University of Economics, number 2007, October.
  • This item is provided by Izmir University of Economics in its series Papers of the Annual IUE-SUNY Cortland Conference in Economics with number 200705.
    Handle: RePEc:izm:prcdng:200705
    Contact details of provider: Fax: (90) 232 279 2626
    Web page: http://eco.ieu.edu.tr

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    1. World Bank, 2007. "World Development Indicators 2007," World Bank Publications, The World Bank, number 8150.
    2. 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.
    3. Alesina, Alberto & Perotti, Roberto, 1996. "Income distribution, political instability, and investment," European Economic Review, Elsevier, vol. 40(6), pages 1203-1228, June.
    4. Perotti, Roberto & Alesina, Alberto, 1996. "Income Distribution, Political Instability, and Investment," Scholarly Articles 4553018, Harvard University Department of Economics.
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