Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/121046
Authors: 
Vujakovic, Petra
Year of Publication: 
2010
Series/Report no.: 
FIW Working Paper 46
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.
Subjects: 
globalisation
openness of economies
measurement of openness
measurement of globalisation
integration
composite index
JEL: 
F15
F20
F36
G15
P51
Document Type: 
Working Paper

Files in This Item:
File
Size
785.04 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.