Journal articles on the topic 'KOF Globalization Index'
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Ginting, Bartimeus, Isfenti Sadalia, and Amlys Syahputra Silalahi. "Effect of the Konjunktutforschungstelle Index of Globalization, Bank Specific Characteristic and Macro Economics on the Performance of Banking Companies in Indonesia." International Journal of Research and Review 9, no. 12 (December 29, 2022): 694–707. http://dx.doi.org/10.52403/ijrr.20221280.
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This study aims to analyze the effect of globalization, bank specific characteristics and macroeconomics on the performance of banking companies in Indonesia which is assessed based on ROE (return on equity). The variables used in the globalization dimension are the Kof Economic Globalization Index, the Kof Social Globalization Index, and the Kof Political Globalization Index. The variables used in the bank specific characteristic dimensions are bank size and EQASS (equity to asset ratio). While the variables used in the macroeconomic dimension are the inflation rate, GDP (Gross Domestic Product) per capita growth rate, and FDI (Foreign Direct Investment) Inflows part of GDP. This study uses secondary data taken from annual reports published by banking companies from 2010 to 2019. The panel data processing model chosen in this study is the REM (Random Effect Model) model. The results of the analysis of the REM model show that the Kof Economic Globalization Index, the Kof Political Globalization Index, bank size, inflation rate, and GDP (Gross Domestic Product) per capita growth rate have a significant positive effect on ROE (return on equity). Meanwhile, the Kof Social Globalization Index and FDI (Foreign Direct Investment) Inflows part of GDP have a significant negative effect on ROE (return on equity). The variable EQASS (equity to assets ratio) has no significant negative effect on ROE (return on equity). Keywords: Kof Economic Globalization Index, Kof Social Globalization Index, Kof Political Globalization Index, bank size, EQASS (equity to asset ratio), inflation rate, GDP per capita growth rate, FDI Inflows part of GDP
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Kalyuzhna, N., A. Khodzhaian, and I. Baron. "Identification of globalization threats to the economic sovereignty of countries with transition economies." Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, no. 1 (2021): 154–64. http://dx.doi.org/10.33271/nvngu/2021-1/154.
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Purpose. To determine globalization threats to the economic sovereignty of transition economy countries based on the analysis and systematization of patterns in dynamics of subindices of the KOF Globalization Index. Methodology. The methods of analysis and synthesis are used to systematize data on the structure and dynamics of the KOF Globalization Index. The method of correlation-regression analysis is used to assess statistical significance of the relation between the KOF Globalization subindices and economic development indicators of the countries of the statistical sample. Findings. It is shown that wide rating opportunities to assess the level of the countrys involvement in the world economic processes are created by index rating systems, one of which is the KOF Globalization Index. The dynamics and structure of de jure and de facto KOF Globalization Index are analyzed. A statistical sampling of the countries has been formed according to the criterion of the level of economic development; the value of the subindices of political and economic globalization of the KOF within the period of 20032017 has been analyzed. It is shown that for all groups of countries in the statistical sampling, the hypothesis of no direct statistically significant relationship between the value of the sub-index of economic globalization KOF and indicators of their economic development can be accepted. At the same time, a direct, mostly strong and statistically significant correlation between the values of the KOF subindex of political globalization and economic development indicators has been confirmed, which proves the importance of choosing a rational vector of foreign policy integration to provide economic development. Originality. Confirmation of the hypothesis of no direct correlation between the level of state involvement in the world economy and the level of its economic development shows the transformation of the idea of openness of the national economy as a prerequisite for its successful development. On the contrary, it allows considering globalization as a source of additional globalization risks for the economic sovereignty of countries with weak economies. Practical value. The obtained results create a basis to develop approaches for assessing vulnerability of the economic sovereignty of countries, which will take into account the determinants of economic globalization and specify the ways to minimize their destructive impact on national economic systems in neo-protectionism.
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Feigin, G. "Globalization of World Economy: Trends and Contradictions." World Economy and International Relations 65, no. 4 (2021): 5–13. http://dx.doi.org/10.20542/0131-2227-2021-65-4-5-13.
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Received 01.11.2020. The interpretation of the term “globalization” and differences to other terms characterizing the development of the world economy (internalization of the world economy, internal division of labor, regional integration) is given. The main signs of globalization (dynamic of trade volumes, FDI inflows, portfolio investments and international credits; internalization of technical progress; digitalization of economy; development of regional economic integration, global migration; TNC activities; transformation processes in the former socialistic countries) are summarized. The focus is on differences between long trends (since 1970) and actual development after the crisis (since 2010). The legitimacy of introduction of the term “deglobalization” is discussed. The modern model of the globalization (global capitalism) is analyzed. Based on some characteristics of this model (global competition, market fluctuations, unbalanced trade flows, social differences, fragility of the global governance), the critical arguments are considered and opportunities of transition to the new model of globalization in the next future are estimated. The relation of catch-up development and polarization in the era of the globalization is analyzed. The dynamics of GDP development of countries in 1972–2018 are summarized. The focus is on the relation between GDP per capita for countries with high income and countries with both law and middle income. The influences of global activities of countries on the level of GDP per capita are highlighted. The empirical basics are data of KOF-Index. The sample includes countries with both middle and low income which held positions in the ranking in KOF-Index from 27 till 182. The positive interdependence between (based on the KOF-Index) and level of GDP is identified. The conclusion about the potential future of the globalization is given.
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Wahyudi, Heru, and Qurrota Ayunindien. "Globalisasi Sosial Berpengaruh Negatif bagi Pertumbuhan Ekonomi di ASEAN??" Jurnal Studi Ilmu Sosial dan Politik 2, no. 1 (June 25, 2022): 1–11. http://dx.doi.org/10.35912/jasispol.v2i1.1418.
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Abstract: Purpose: The purpose of this study was to examine the impact of economic globalization, social globalization and politc globalization on economic growth in ASEAN. Research methodology: The analytical method used in this study is the Panel Data Analysis method for 6 countries in 2010 until 2017. The independent variables were economic globalization, social globalization and politic globalization and then support variables is infrastructure. Results: The results showed that there was a positive and significant relationship between economic globalization, politic globalizatioan and infrastructure on economic growth, while social globalization had a negative and significant effect on economic growth in ASEAN. Limitations: The limitation in this study is not counting all asean countries. Contribution:The results obtained from this study are expected to be one of the references in making policy directions based on the data presented to as a means for ASEAN countries to expand economic opportunities and increase economic growth. Keywords: 1. Globalization 2. KOF Globalization Index 3. Economic Growth
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Tang, Sai, Zhuolin Wang, Gengqi Yang, and Wenwen Tang. "What Are the Implications of Globalization on Sustainability?—A Comprehensive Study." Sustainability 12, no. 8 (April 22, 2020): 3411. http://dx.doi.org/10.3390/su12083411.
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It is becoming more and more certain that globalization is not just purely an economical phenomenon; it is exhibiting itself on a worldwide level. Amid globalization’s observable appearances, the most obvious are the larger international mobility of goods and services, flows of finance capital, data and information and most importantly people. On top of that, there are technological progresses and more international cultural interactions, which are facilitated by the enhancement of free trade of large quantities of more differentiated goods and also through immigration and tourism. The political changes and ecological concerns play an important part in this regard. In the current study, sustainability Indices are linked with the KOF Globalization Index to understand if more globalized countries are performing better in terms of sustainable development and its dimensions, especially environmental sustainability. Sustainability indices such as Human Development Index (HDI) and Environmental Performance Index (EPI) showed a stronger relation with different levels of globalization while others (Red List Index (RLI), Environment Sustainability Index (ESI)) did not. The results reveal that globalization has a positive implication on sustainability in the overall perspective.
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Kacperska, Elżbieta. "Poland and the Czech Republic in the Process of Globalization." Zeszyty Naukowe SGGW w Warszawie - Problemy Rolnictwa Światowego 17(32), no. 4 (December 29, 2017): 130–42. http://dx.doi.org/10.22630/prs.2017.17.4.89.
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The purpose of an article was to analyses complexity of the globalization process and its effects for the functioning of the Polish and Czech economies. In addition to the opportunities and threats of the globalization process, the study includes an analysis of the primary indicators for both economies, i.e. GDP, participation in foreign trade, flow of foreign investment and ranking of the KOF globalization index.
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Wang, Quan-Jing, Yong Geng, and Xi-Qiang Xia. "Revisited Globalization’s Impact on Total Environment: Evidence Based on Overall Environmental Performance Index." International Journal of Environmental Research and Public Health 18, no. 21 (October 29, 2021): 11419. http://dx.doi.org/10.3390/ijerph182111419.
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This study aims to examine the impact of globalization on environmental performance by employing panel data for 148 countries from 2001 to 2018, via the indicator of Environmental Performance Index to capture the overall environmental quality and KOF index to measure the multi dimensions of globalization. The empirical results suggest that globalization is critical to environmental performance, which is reliable while we conduct several robustness tests. Furthermore, if globalization increases, it would be beneficial for the environmental performance; moreover, among specific dimensions of globalization, economic globalization, social globalization and political globalization would bring about better environmental performance. Besides, the improvement of globalization, social globalization and political globalization would bring about better environmental performance, while that of economic globalization cannot change the overall environmental performance. Our study offers more insight into the relationship between globalization and environmental performance.
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Pelegrinová, Lenka, and Martin Lačný. "The Impact of Globalization on Economies of Developed Countries." Journal of Economic Development, Environment and People 2, no. 3 (September 4, 2013): 25. http://dx.doi.org/10.26458/jedep.v2i3.37.
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The concept of globalization is interpreted by various authors in terms of its importance or content. This article presents results of an analysis of the influence of globalization trends on important macroeconomic indicators of selected countries. An examination of the level of globalization as a quantitative marker was enabled by the KOF Index of Globalization, which provides an indication of the economic, political and social globalization at global level. Research methods included time series analysis, trend analysis and nonparametric regression model (regression of panel data).
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MALCHYK, Mariana, Olena POPKO, and Iryna OPLACHKO. "IDENTIFICATION OF THE IMPORTANCE OF UKRAINE IN INTERNATIONAL GLOBALIZATION AND INTEGRATION PROCESSES." Herald of Khmelnytskyi National University 302, no. 1 (January 2022): 244–51. http://dx.doi.org/10.31891/2307-5740-2022-302-1-41.
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The purpose of the article is to define the essence of globalization and international economic integration, to identify their influence on the development of national economies and markets, identify of Ukraine’s place in international globalization and integration processes. In this scientific research general scientific and special research methods are used, in particular, the method of theoretical generalization to clarify certain concepts such as ‘globalization’; the method of statistical analysis to assess the dynamics of the global index of globalization and the dynamics of globalization indexes of the leading countries of the world according to KOF; the method of comparative analysis for carrying out a rating assessment of the scale of Ukraine’s integration into the world in terms of the economic, social and political components of globalization. Researches of the survey showed existing approaches to the interpretation of the categories ‘globalization’. It is underlined the ambiguous attitude to globalization in the scientific sphere. The rating of Ukraine according to the index of globalization of KOF, and the dynamics of the index change in 2012-2020 years are presented. Positive aspects and threats caused by the entry of Ukraine into the global space are considered. In order to increase the rating’s assessment of the scale of Ukraine’s integration into the world, it is necessary to increase the volume of international trade, to rise the level of international business activity, trade flows, flows of international investments, etc., to intensify the level of cultural integration, the level of international tourism, cross-border money transfers, information flows, etc., to ensure membership in leading international organizations, participation in international missions, processes for the ratification of international multilateral treaties, etc.
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Geleverya, Y. M., and Y. I. Serhiienko. "The Impact of Globalization Processes on the National Economy of Ukraine." Business Inform 1, no. 528 (2022): 33–38. http://dx.doi.org/10.32983/2222-4459-2022-1-33-38.
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The article studies the impact of globalization on the process of activities of domestic enterprises, which are forced to change their behavior strategies in the markets of goods and services and adapt to new conditions of doing business. The main causes of globalization are determined, its positive and negative consequences for the national economy are listed. The processes of globalization taking place today have directly affected Ukraine. Based on the carried out research of these, the article provides the main causes, advantages and disadvantages of global phenomena, as well as forecasts for the future development and impact of globalization on the national economy. It is indicated that globalization has a significant impact on the development and functioning of the country’s economy. Also, the processes of globalization have a fairly wide impact on the development of domestic enterprises. The KOF index of the level of globalization of the world countries, which prevails in the most cases, is considered. The rating of Ukraine according to the KOF index of the level of globalization, the dynamics of changes in the index for 2010-2019 are provided. The positive aspects and threats caused by Ukraine’s entry into the world global space are identified. It is determined that in the context of globalization, Ukrainian enterprises are trying to achieve their growth through the modernization of production facilities, introduction of modern technologies, ensuring world-class productivity and quality of products and services, improving management, active public-private partnership. There are four main development options that provide an opportunity to achieve success and increase the efficiency of enterprises in the context of globalization. It is summed up that, despite all the negative aspects, globalization increases the efficiency of the world economy, helps enterprises to achieve significant success through the opening-up opportunities, and unites countries to solve global economic problems.
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Yay, Gülsün, Hüseyin Taştan, and Asuman Oktayer. "Globalization, economic freedom, and wage inequality: A panel data analysis." Panoeconomicus 63, no. 5 (2016): 581–601. http://dx.doi.org/10.2298/pan130515024y.
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This paper examines the impact of globalization and liberalization on wage inequality using the KOF globalization index, the Economic Freedom Index (EFI) of the Fraser Institute and the Theil industrial pay inequality statistic compiled by the University of Texas Inequality Project (UTIP). Both static and dynamic fixedeffects models are estimated using a 5-year panel data set consisting of about 90 developed and developing countries for the 1970-2005 period. Estimation results from the dynamic panel data specification suggest that wage inequality has a significant and slowly changing component. The overall KOF and EFI indexes are found to be statistically insignificant in the full sample, but the results show that economic freedom is associated with more wage inequality, especially in Organisation for Economic Co-operation and Development (OECD) countries. The estimation results from country groups indicate that more deregulation is associated with more earnings inequality in OECD countries. The results from the models with subcomponents of the EFI imply that access to sound money has a negative effect on wage inequality. A more stable price system in an economy implies a more equal wage distribution in emerging markets (EM), non-OECD countries, and European Union (EU).
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Martín Cervantes, Pedro Antonio, Nuria Rueda López, and Salvador Cruz Rambaud. "The Effect of Globalization on Economic Development Indicators: An Inter-Regional Approach." Sustainability 12, no. 5 (March 3, 2020): 1942. http://dx.doi.org/10.3390/su12051942.
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Background: The analysis of the problems derived from globalization has become one of the most densely studied topics at the beginning of this millennium, as they can have a crucial impact on present and future sustainable development. This paper analyzes the differential patterns of globalization in four worldwide areas predefined by The World Bank (namely, High-, Upper-Middle-, Lower-Middle-, and Low-Income countries). The main objective of this work is to estimate the effect of globalization on some economic development indicators (specifically per capita income and public expenditure on health) in 217 countries over the period 2000–2016. Methods: Our empirical approach is based on the implementation of a novel econometric methodology: The so-called Toda–Yamamoto procedure, which has been used to analyze the possible causal relationships between the involved variables. We employ World Development Indicators, provided by The World Bank, and the KOF Globalization Index, elaborated by the KOF Swiss Economic Institute. Results: The results show that there is a causal relationship in the sense of Granger between globalization and public expenditure on health, except in High-Income countries. This can be interpreted both negatively and positively, confirming the double character of globalization, as indicated by Stiglitz.
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Coleman, Martha, Mengyun Wu, and Justices Mark Baidoo. "Globalization and Corporate Governance Mechanism, Engine of Change." Business and Economic Research 10, no. 1 (February 8, 2020): 210. http://dx.doi.org/10.5296/ber.v10i1.16048.
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This study is undertaking to investigate the effect of the various dimensions of globalization on corporate governance sub-indices of listed companies in Nigeria and Ghana. The study used a panel data of nonfinancial companies listed on Nigeria and Ghana stock exchange for the period 2012 – 2016 with total observation of 510. Using KOF Globalization Index which entails composite index measuring economic, social and political dimension of globalization. It was discovered that all the dimensions of globalization influence the corporate governance mechanisms. The impact of globalization on sectors of the economies clearly shows that West African countries have been greatly influenced by globalization for resource utilization and improvement in living standard. Although poverty still seems to be high, it is of no doubt that globalization has sharpened the economic efficiency and sustainable growth and financial stability base on continuous improvement on corporate governance mechanisms for the achievement of better economic stability.
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Kollias, Christos, and Suzanna Maria Paleologou. "Globalization and Democracy: A Disaggregated Analysis by Income Group." Global Economy Journal 16, no. 2 (May 6, 2016): 213–28. http://dx.doi.org/10.1515/gej-2015-0048.
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The nexus between globalization and democracy has generated fervent discussions in the relevant literature. This paper addresses the globalization-democracy question using the KOF index that allows for the multidimensionality of this process and hence different channels through which globalization can affect democracy. Furthermore, any effect exerted by globalization on democracy may differ depending on a country’s attributes. To this effect, we allow for possible differences that depend upon the level of development, the sample of 110 countries used here was split into four different income groups: high, upper-middle, lower-middle and low income. On balance, the results yielded using the Polity 2 index of democracy point to a positive impact of globalization on democracy but this was not a universal finding across all income groups and differences were unearthed by the estimated panel models covering the period 1970–2011.
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Sağlam Çeliköz, Yıldız, Tuba Yildiz, Ünal Arslan, and Hale Kirmizioğlu. "The relationship between economic globalization and ecological footprint: empirical evidence for developed and developing countries." Agricultural and Resource Economics: International Scientific E-Journal 8, no. 4 (December 20, 2022): 109–33. http://dx.doi.org/10.51599/are.2022.08.04.05.
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Purpose. The aim of this study is to examine the relationship between economic globalization and the ecological footprint in countries with different levels of development using a Feasible Generalized Least Squares (FGLS) analysis.
Methodology / approach. The study covers the years 1970 to 2017 for 65 developed and developing countries. The ecological footprint is the dependent variable in the study’s model, and the GDP and KOF Globalization Index (KOF) index are the independent variables. The CADF panel unit root test, which takes into account cross-sectional dependence, was used to choose the appropriate test method for the analysis. Feasible Generalised Least Square and Westerlund ECM panel cointegration analyses were performed for model estimation.
Results. Economic globalization and ecological footprint have a considerable relationship, according to the results of FGLS and Westerlund cointegration analysis. Economic globalization has a long-run negative impact on the ecological footprint. Environmental problems are being addressed as a result of more economic globalization, faster technology development, and consequently decreased usage of natural resources. Furthermore, as globalization and communication technologies develop, societies will have more information on the importance of the environment. As a result, they can show more eco-friendly behavior.
Originality / scientific novelty. Several studies in the literature include the cointegration relationship between economic globalization and ecological footprint. Although there are few studies on this topic in the literature, one aspect that distinguishes this study is the use of an estimation method that takes into account the cross-sectional dependent, second-generation unit root tests, FGLS cointegration analysis, and Westerlund ECM analysis.
Practical value / implications. The importance of the findings is that increased economic globalization has a negative effect on the ecological footprint. As economic globalization increases, so does communication technology, as well as international trade. Individuals become more environmentally conscious as a result of communication, which generally reduces ecological footprint.
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Živković, Jelena. "Competitiveness of the Southeast European Countries in the Conditions of the Globalization." Economic Themes 59, no. 4 (December 1, 2021): 479–96. http://dx.doi.org/10.2478/ethemes-2021-0027.
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Abstract Globalization is a process often identified with the economic integration of countries, the creation of a single market while neglecting other aspects of globalization. Besides its economic dimension, The KOF index of globalization includes the social and political dimensions. One of the questions is how the countries manage to strengthen their competitive position in the international market in the age of globalization. Is it challenging to maintain a stable competitive position in the conditions of greater connection of countries and in what form? For this reason, the paper deals with the change of the Global Competitiveness Index, a renowned measure of the competitiveness of national economies according to the methodology of the World Economic Forum, under the influence of increased economic globalization of Southeast European countries. It also estimates the impact of globalization, or its economic, social and political dimension on the economic growth of Southeast European countries, which is one of the requirements for successful positioning on the international economic scene.
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Walayat, Khaula, Dr Mahmood Khalid Qamar, and Dr Zahid Iqbal Iqbal. "EFFECTIVENESS OF GLOBALIZATION AND HUMAN CAPITAL ON MARKET & NET INCOME INEQUALITY IN BRICS COUNTRIES: A PANEL DATA ANALYSIS." Journal of Arts & Social Sciences (JASS) 9, no. 1 (June 30, 2022): 98–108. http://dx.doi.org/10.46662/jass.v9i1.207.
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This study scrutinizes the impact of defacto and dejure GLOB (KOF GLOB index 2018) on Income inequality on economically emerging countries; BRICS countries. The defacto GLOB indicates the estimate of GLOB including variables representing activities and flows; de jure estimate includes variables which show policies representing enable flows and activities. Our analysis separates the impact of globalization on net and market income inequalities. Pretax/transfer and the post-tax/transfer GINI indices were employed as the measures of income inequality. This analysis used balanced panel for BRICS countries for the period 1990-2015. Economic globalization both defacto and dejure showed positive sign that depicts a significant relationship with dependent variable. It explains that defacto political has positive sign and dejure political globalization decreases inequality while economic globalizations in both divisions have positive sign and significant impact on inequality. Interestingly, defacto social globalization has positive sign but dejure social has positive sign. Moreover, the purchasing power parity and age dependency both have negative sign and significant influence on inequality. These conclusions point out that social and political globalization may be a hindering factor for governance in these countries.
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Davoyan, Samson, and Ashot Davoyan. "The Issues of the Improvement of the Methodology for the Assessment of Reforms." International Journal of Energy 16 (March 9, 2022): 21–28. http://dx.doi.org/10.46300/91010.2022.16.4.
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The purpose of this article is to suggest a new methodology that will give us an opportunity to create an Integral Index of Reforms (IIR) that will include seven indexes: KOF Index of Globalization, The Democracy Index, The Corruption Perception, The Human Development, Doing Business, The Global Competitiveness Index and The Index of Economic Freedom. From both scientific and empiric perspective it is supposed that the quantitive assessment of various reforms implemented in different countries based on presented indicators of seven indexes despite the new methodology that we suggest give us the opportunity to include much more indexes.
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Sabeeha Naseer, Muhammad Kamran Khan, and Sami Ullah. "Globalization Nexus Terrorism: Evidence from Pakistan." Journal of Business and Social Review in Emerging Economies 7, no. 1 (March 31, 2021): 177–84. http://dx.doi.org/10.26710/jbsee.v7i1.1594.
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The current study investigates nexuses between globalization and terrorism in context of Pakistan. Time series data utilized for time period 1981 to 2017. The data has been taken from the World Governance Indicator (WGI) and Swiss global index (KOF). Augmented Dicky fuller (ADF) test was applied to check out stationary of all variables such as terrorism, globalization, remittances, foreign direct investment and trade. The results of ADF test indicated that all variables were stationary at first difference. For empirical analysis Johnson co-integration and VAR model under causality were applied. The co-integration result shows all variables terrorism, globalization, FDI, remittances and trade are not co-integrated. Vector Auto Regression (VAR) Model under causality test shows that Globalization is causing factor of terrorism. While, other controlling variables such as remittances cause globalization, foreign direct investment and trade.
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Hoang, Ha. "The underground economy in transition countries from the perspective of globalization: The case of Vietnam." Revista Amazonia Investiga 9, no. 29 (May 18, 2020): 234–42. http://dx.doi.org/10.34069/ai/2020.29.05.26.
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The underground economy, also known as the shadow economy, has been recognized for a long time and increasingly plays an important role in economies around the world, especially for developing countries like Vietnam. Over the past few years, the strong growth of the Vietnamese economy has recognized the development and significant contribution of informal economic activities. This study was conducted to evaluate the effects of globalization and economic openness on the size of the informal economy to fill the theoretical gap and proposed appropriate recommendations for policymakers. The research uses qualitative and quantitative analysis methods. We collected KOF Globalization Index from ETH Zurich - Swiss, the trade index from World Bank and the size of the underground economy in Vietnam from the research of Medina and Schneider (2018) for analyzing. The results show that the trade openness has a positive impact on the development of globalization in Vietnam. Also, the promotion of globalization plays a vital role in reducing the size of the underground economy in Vietnam. Several implications for policy makers has been proposed based on our findings.
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Abdullah, Muhammad, Atif Ali Gill, and Ayza Shoukat. "Road to Openness: Implications of Globalization for Education in Pakistan." Global Economics Review VI, no. II (June 30, 2021): 75–86. http://dx.doi.org/10.31703/ger.2021(vi-ii).07.
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The current study discusses the implications ofglobalization for education in Pakistan. Time seriesdata from 1980 to 2019 has been used. KOF Index of globalizationhas been used as a composite measure of globalization. This indexis based on three aspects of globalization: economic, social, andpolitical. For education, the study employed the annual data forthe adult literacy rate. Other supporting variables are governmentexpenditures, private consumption, and urban population. Thelong-run and short-run relationships have been determined byusing Johansen Co-integration and VECM, respectively. Theempirical results unequivocally show the existence of co-integration, which confirms the presence of a long-run relationshipin the model. The negative and significant value of the ECT (-1)term further defends the existence of the long-run relationship. Thestudy suggests that government should take measures to maximizethe fruits of globalization.
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Dima, Bogdan, and Ştefana Maria Dima. "Policies for Happiness in the Global Village." Journal of Heterodox Economics 3, no. 1 (June 1, 2016): 17–53. http://dx.doi.org/10.1515/jheec-2016-0002.
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AbstractThis article employs three different measures of life satisfaction viewed as proxy for social utility, in order to test for the possible non-linear interactions between the quality of public governance, as reflected by the World Bank indicators, and globalization, as captured by the KOF index, for a dataset of 99 countries for a time span between 2001 and 2010. We conclude that efficient and trustworthy public policies may enhance life satisfaction. Moreover, there may occur a synergy effect between ‘good’ governance and globalization (especially for those components describing social globalization), while there is no substitute for the failure of public policies, in terms of human development and growth (with the effects on human development being substantially more important than those corresponding to the increase in national wealth).
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Tsai, Ming-Chang, and Rueyling Tzeng. "Globalization and social distance: Multilevel analysis of attitudes toward immigrants in the European Union." PLOS ONE 17, no. 10 (October 3, 2022): e0274988. http://dx.doi.org/10.1371/journal.pone.0274988.
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Attitudes toward immigrants can, to a large extent, be determined by certain macro contextual factors. This paper tests a number of proposed hypotheses to illustrate patterns of influence generated by economic and social globalization on perceived social distance relative to immigrants. The European Union (EU) constitutes an ideal study case as its Member States vary in exposure to globalization and attract immigrants from different countries of origin. We conduct a multilevel analysis combining individual level variables from Eurobarometer’s recent dataset collected in 2017 and country-level variables from KOF of Globalization Index and other major sources. The results show that individuals in countries with higher degrees of social globalization have lower levels of social distance toward immigrants, while relative level of economic globalization has scant influence. Contact factors are also evaluated for their potential effects. Both casual and close contacts, as specified, reduce social distance. This study contributes to migration studies by offering a clearer specification of how social, rather than economic, globalization interact with contact factors to decrease one’s perceived distance from immigrants in the EU.
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Sagatova, Slavka. "The Impact of globalization on the development of creative industries businesses." SHS Web of Conferences 74 (2020): 04023. http://dx.doi.org/10.1051/shsconf/20207404023.
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The creative industry represents the potential for economic growth worldwide. Even though there is no single definition of it, it can be generally said that these are the economic sectors in which the primary production factor are people, their individual creativity, ability, and talent. Creative industries can also be said to be created at the interface of innovation and culture, where they overlap. The article focuses on the analysis of the creative industries development in the Slovak Republic in the context of the development of creative industries in other European Union countries. Based on the gained knowledge, it points out the regional differences in the creative world of European countries. The article also tries to identify the link between globalization influences and the development of the creative industry, using the KOF index. This index represents a quantitative expression of the level of globalization in terms of its economic, political, and sociological development. This enables a comparison of the the selected indicator development of the creative industry with the development of globalization. The research methods used include time series analysis as well as correlation methods. The obtained results suggest that the creative industries is developing independently of globalization trends.
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Rahman, Habib Ur, Umer Zaman, and Jarosław Górecki. "The Role of Energy Consumption, Economic Growth and Globalization in Environmental Degradation: Empirical Evidence from the BRICS Region." Sustainability 13, no. 4 (February 10, 2021): 1924. http://dx.doi.org/10.3390/su13041924.
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This paper examines the effect of energy consumption, globalization, and economic growth on the CO2 emission of the BRICS (Brazil, Russian Federation, India, China and South Africa) region. Using annual data from 1989 to 2019, this research applies a panel cointegration approach. In this framework, we use Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) methods to examine the long-run relationship between the selected variables. This empirical investigation reveals that there is a long-run association between these variables, and energy consumption positively and significantly affects the carbon emission in these countries. These results indicate that energy consumption is the primary source of environmental degradation in the region. In contrast, the globalization (KOF Index of Globalization) negatively and significantly affects the carbon emission, implying the improvement of environmental quality. Further, this research could not find the presence of environmental Kuznets curve in the region. Policy guidelines are suggested in the line of findings.
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Abbas, Shujaat, Qazi Muhammad Adnan Hye, Raja Rehan, and Sadaf Mubeen. "Do Globalization, Technology Adoption and Economic Development Influence Income Inequality in Developing Asian Nations?" Asian Journal of Economics and Empirical Research 9, no. 2 (August 22, 2022): 83–90. http://dx.doi.org/10.20448/ajeer.v9i2.4118.
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Currently, income inequality has become an international issue that needs to be overcome and also requires the attention of researchers and policymakers. Hence, this study is an attempt to explore the impact of globalization, technology adoption, and economic development on income inequality. For this purpose, 20 years of large-scale panel data over the period from 2001 to 2020 for ten emerging Asian nations (Iran, Jordan, Iraq, Laos, Pakistan, Bangladesh, Sri Lanka, Thailand, Indonesia, and the Philippines) is mined from the World Bank database and KOF globalization index. In order to inspect the empirical relationship among the selected variables, the panel data fixed effects model (FEM) along with the robust standard error is employed. The results indicate that globalization, technology adoption, and economic development have a negative linkage with income inequality, which means these factors play a significant role in removing the income inequality in developing countries. This study provides insight for policymakers while developing policies regarding income inequality elimination in the country.
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Pelegrinová, Lenka, and Martin Lačný. "Protection of Intellectual Property and its Economic Aspects." Journal of Economic Development, Environment and People 5, no. 3 (September 30, 2016): 5. http://dx.doi.org/10.26458/jedep.v5i3.507.
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Intellectual property as assets in intangible form is classified in most countries under the definitions of the TRIPS Agreement and PCT according to the manner of its protection. This article presents results of an analysis of relationship between the protection of intellectual property rights at certain globalization level and verification of their influence on economic indicators in the selected countries of the research sample – 32 countries of a similar intellectual property protection system under the PCT. An examination of the level of globalization as a quantitative marker was enabled by the KOF Index of Globalization. The time and cross-sectional data enabled to test 352 objections by applying a non-parametric statistical method – panel data regression with the effect of random cross-sectional variables. The conclusions show that there is a statistically significant probability of the relation between the quantity of registered patents and the level of gross domestic product, gross domestic product per capita and adjusted net national income.
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Swadźba, Stanisław. "Globalization and economic growth in highly developed countries." SHS Web of Conferences 74 (2020): 05025. http://dx.doi.org/10.1051/shsconf/20207405025.
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The main goal of this paper is to show the level of globalization, its changes and the impact of globalization on economic growth and socio-economic development in these countries. The following research methods were used: historical, literature, descriptive analysis and simple statistical methods. Statistical data used in this paper come from KOF Index of globalization, World Bank Database and Human Development Reports. The time range of research is 1990-2018. The research covered 16 countries of Western Europe, USA, Canada, Japan, Australia and New Zealand. The main findings of the study are as follows: Highly developed countries are the most globalized. The level of globalization in individual countries varies, but the differences are not large. The medium-size European countries are the most globalized, while non-European countries are the least globalized. Starting from the 1990s, the level of globalization has increased significantly. The highest increase was in the less globalized countries, the lowest in the most globalized ones. As a result, the differences between them have significantly decreased. Thus we can see the convergence in the sphere of globalization. The positive impact of globalization on economic growth and socio-economic development was not observed in this group of countries.
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Корнієвський, Сергій. "Estimation of the influence of globalization processes during the strategic decision-making in regional development." Public administration aspects 9, no. 3 (June 30, 2021): 53–63. http://dx.doi.org/10.15421/152128.
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It has been emphasized in the article that under the influence of globalization processes, which are taking place in the world economy, new patterns appear and the levels of responsibility for regional and local development change. The role of regional authorities in ensuring the socio-economic development of territories is growing significantly. The development of regions and the state today depends on the interest and ability of local authorities to implement effective tools of regional governance. With the reform of local self-government and territorial organization of power in Ukraine, regional and local authorities are becoming key players in the sphere of community development. Obtaining new powers contributes to the transformation of regions and communities from the objects of government to the subjects of government, which significantly increases the responsibility for public administration decisions.The aim of the article is to analyze approaches to defining the nature, stages of formation and development of globalization, to study the quantitative dimensions of assessing the levels of globalization and to provide suggestions for the estimation of globalization impacts on public administration decisions in regional development.Two main approaches to determining the stages of formation and development of globalization have been identified in the article. The first approach is "historical", according to which the origins of globalization should be sought in the past. The second approach - "integrated" one, considers globalization as an exclusively modern socio-economic phenomenon.Economic, sociological, political science and universal approaches to defining the essence of globalization have been given.The approaches to estimating the level of globalization on the basis of globalization indices have been studied: the globalization index A.T. Kearney; KOF-index of globalization; CSGR globalization index; sociological index of globalization (Global Index); the new globalization index (NGI); Maastricht Globalization Index (MGI) and Integrated Globalization Index.The most powerful for modern Ukraine trends of economic development of regions in conditions of globalization and interstate integration have been generalized.It has been concluded that taking into account the trends of the impact of globalization factors on regional development will contribute to the adoption of prudent public administration decisions in the sphere of modernization of regional policy. Today, the regional government should initiate the activation of the regions' own economic potential and the use of their competitive advantages. In these conditions there is a process of increasing regional coordination of the subjects of formation and implementation of economic policy of regional development. Also, the development of strategic decisions on regional development should be based on the analysis of economic, social, cultural, and institutional features of each region, measuring the impact of globalization processes on them.
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Wang, Xueyan, Weidong Meng, Chunyang Wang, Bo Huang, and Yuyu Li. "Export trade structure transformation and countermeasures in the context of reverse globalization." PLOS ONE 17, no. 6 (June 24, 2022): e0270390. http://dx.doi.org/10.1371/journal.pone.0270390.
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With the development of economic globalization, the problem of unequal distribution of globalization dividends among and within countries has become increasingly serious, and reverse globalization has a great impact on the national economy and export trade. This paper uses the KOF Globalization Index and the world input-output tables in World Input-Output Database (WIOD), and empirically studies the transformation of a country’s export trade and export structure in the context of reverse globalization from the perspectives of world, country, industry, subdivided manufacturing and service industry. The results show that reverse globalization has a significant non-linear negative effect on economic development and export trade. Compared with developed and European Union (EU) countries, the exports of developing and non-EU countries are more affected by reverse globalization shocks. Reverse globalization has the greatest inhibition on the secondary industry exports, followed by the tertiary industry. The suppressive effects on the exports of 12 subdivided manufacturing and 14 subdivided service in China are significantly greater than that of the United States, but most of sub-industry exports in the United States are more sensitive. Besides, China’s exports of high-product-complexity industry such as metal products, medicinal chemicals, electrical and optical products and mechanical equipments are greatly affected by reverse globalization, while the exports of water transportation, construction, land transportation are relatively less restrained.
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Kopnova, Elena, and Lilia Rodionova. "Modeling the links between institutional and actual globalization in the countries of the world." Business Informatics 15, no. 4 (December 31, 2021): 61–75. http://dx.doi.org/10.17323/2587-814x.2021.4.61.75.
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The paper is devoted to modeling the links between the institutional and actual level of globalization in the countries of the world. Vector models of error correction, quantile regression, and a stochastic frontier model are considered. As a measure of globalization and its components, the KOF-index of globalization system is used, which allows us to analyze individual globalization processes in the economy, social sphere and politics. According to 2020 data, we determine the dynamic relations between the actual and institutional components of globalization, and the priority of the institutional component for informational and financial globalization is revealed. The example of financial globalization shows the uneven degree of influence of the institutional component on the actual globalization, in particular, its prevailing importance for less globalized countries, indicating the alignment of the degree of internationalization in the global financial system. The degree of effectiveness of the impact of institutional measures, together with the overall level of well-being on the actual financial globalization is analyzed. It is shown that the spread across the countries of the world in the efficiency indicator is almost 70%. Almost 10% of countries have a low efficiency of up to 50%. One third of the countries has average efficiency (50–75%). The share of countries with high efficiency over 75% is about 60%.
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AYENAGBO, Kossi. "The Role of Financial Globalization through FDI in Driving Inequality in the Sub-Saharan Region." Applied Economics and Finance 8, no. 5 (September 3, 2021): 10. http://dx.doi.org/10.11114/aef.v8i5.5342.
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This paper examines the relationship between globalization and income inequality in Sub-Saharan Africa (SSA). Globalization is here measured using trade variables like the openness rate (TO), financial variables including FDI while income inequality is measured by the GINI coefficient. This was achieved by using data from 26 countries over the period 2005-2014, using the System Generalized Method of Moments (SGMM) estimator to obtain results from the African context. The results suggested that trade openness exerted an equalizing effect while financial globalization through FDI has been the critical factor driving inequality in the SSA since 2005. The results also showed that outside of FDI, corruption contributes greatly to widening inequality by about 3%. The effect of the other control variables was all together insignificant. The prevailing economic status as portrayed following on the back of the 2008 financial crisis has led to an increase in inequalities in SSA countries. These results are robust to the using of the KOF Globalization index. Through this research, governments and policymakers have to introduce robust and appropriate policies and interventions in their drive for economic growth to decisively deal with corruption and so direct FDI to economically sound targeted priority programs.
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Antalová, Mária. "The Importance of Globalisation and Learning Capital for Economic Growth." SHS Web of Conferences 92 (2021): 08002. http://dx.doi.org/10.1051/shsconf/20219208002.
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Research background: In our paper, we focus on two important phenomena that are currently culminating and bringing their positive as well as negative consequences. They are globalization and the learning capital. In research, experts are primarily oriented on globalization, which we perceive so intensely in our daily lives. There exist extensive studies developed on a theoretical, methodological as well as empirical basis. Experts are intensively dealing also with the human capital and, above all, with its impact on various socio-economic phenomena. However, they are paying less attention to the learning capital, which we consider one dimension of the human capital. Purpose of the article: Link between the human capital and the economic growth has long been clarified, but the relation between the learning capital is not remained at forefront of the research intentions. For this reason, we have decided to examine the interconnectedness between globalization and the learning capital in selected EU countries and to determine its contribution to the economic growth. Methods: In quantification of globalization, we use the overall KOF Globalization Index, which consists of 3 components: the economic, social and political dimensions. There does not exist uniform procedure for examining the learning capital. For this reason, we rely on Human Development Index data. Findings & Value added: In the empirical analysis, we focus on the evaluation of the current state of globalization as well as the learning capital in the Slovak Republic and verify the established hypotheses concerning the interconnection of these two phenomena and their impact on the economic growth.
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AL-Kasawnih, Akad. "How important is the lesson of the correlation between advancing the globalization process and intensifying the money laundering phenomenon?" Proceedings of the International Conference on Business Excellence 13, no. 1 (May 1, 2019): 1267–76. http://dx.doi.org/10.2478/picbe-2019-0112.
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Abstract It is true that advancing the globalization process generates a numerous negative externality. Such a negative effect is the proliferation of financial transactions carried out at or even beyond the limits of legality and fairness. The author of this study assumes that “the greater the cross-border financial flows, the greater the money-laundering operations and negative impact on the behavior of the economic actors”. The truism related to this correlation must be deeply understood and the lessons to be delivered must be learned in time. Hidden economy is perceived as all incomes generated in legitimate way but not disclosed to tax administrations, as well as activities such as drug trafficking, gambling, smuggling and others. What distinguishes our study is Quantitative and analytical analysis and to draw conclusions based on those results, through the adoption of a digital index on economic globalization, and the adoption of another numerical indicator of money laundering with its components and weights as well. Additionally, a statistical analysis of the relationship between economic globalization and money laundering will be based on “Pearson correlation coefficient” as we are going to adopt one variable (Economic Globalization) as an independent variable and other variable (Money Laundering) as a dependent variable. The KOF index of globalization will be adopted here, and the selected countries as a study samples will be given a ranking from 1 to 15 according to their degree of economic globalization. Results of my research shows that a negative weak relationship correlation between the degree of the economic globalization of the state and the phenomenon of money laundering which is represented by the size of the hidden economy, which means that the increase of the value for the independent variable (economic globalization) leads to the decline of the value for the dependent variable (money laundering).
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Zadorozhna, Tetyana. "Assessing the impact of globalization on stock market in Ukraine." VUZF Review 6, no. 3 (September 29, 2021): 100–107. http://dx.doi.org/10.38188/2534-9228.21.3.11.
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The article is devoted to studying the impact of globalization processes on the development of national economies. In particular, the indicators of assessing the impact of globalization on financial and non-financial indicators of countries' development are considered. Attention is paid to the place of Ukraine in the KOF Globalization Index 2020 ranking, namely in terms of economic, social, and political globalization. The author has formed three groups of indicators that allow assessing the influence of globalization on the securities market of a country. The first group includes indicators that help determine the degree of integration of the national securities market into the global one. The second group includes indicators that determine the extent to which domestic securities legislation and principles of securities market regulation are adapted to international standards. The third group of indicators is aimed at quantifying the impact of trends in the global securities market on the national. The article examines the impact of one of the indicators of the third group on the securities market of Ukraine. In particular, the correlation analysis of the relationship between the Ukrainian PFTS index and the indices of American, British, European, and Polish stock markets was conducted. The author made conclusions about the availability of the significant correlation between global stock indices, as well as the weak impact of global securities market trends on the dynamics of the Ukrainian market. It was also revealed during the analysis, that the level of correlation between indices depends on whether the financial market is in crisis. Particularly, the analysis covered three periods: the 2008-2010 financial crisis, the 2020-2021 Covid-19 crisis, and the 2010-2020 period between the crises.
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Wahyudi, Heru, and Figa Ramani. "Pengaruh Jangka Pendek dan Jangka Panjang Saham Global terhadap Indeks Harga Saham Gabungan (IHSG) Periode 2015:M01 - 2020:M12." Reviu Akuntansi, Manajemen, dan Bisnis 2, no. 1 (June 25, 2022): 15–25. http://dx.doi.org/10.35912/rambis.v2i1.1421.
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Abstract: Purpose: This study aims to analyze the external and internal factors that affect the movement of the Composite Stock Price Index (IHSG) in Indonesia in the short and long term. External influences of global stock indices are DJIA, NIKKEI225 and SSEC, as well as the exchange rate (USD/IDR). The most influential internal influence is inflation. Research methodology: This study uses the ECM (Error Correction Model) method. ECM aims to determine the long-term and short-term effects of variables that affect the JCI in Indonesia. In addition, this study uses monthly time series data from January 2015 to December 2020. Results: The results of this study show that the DJIA index and Inflation have a positive and significant influence in the long and short term on the movement of IHSG in Indonesia. The SSEC and Exchange Rate Index (USD/IDR) have a negative and significant relationship in the long and short term to the movement of IHSG in Indonesia, while the NIKKEI225 index has no long-term or short-term influence on the movement of IHSG in Indonesia. Limitations: The limitation of this research is that there are many variables outside the model that are not included in the study Contribution: For investors who will start investing in the Indonesia Stock Exchange, before investing, they should pay attention to the movement of global stock indexes (DJIA and SSEC). Keywords: 1. Globalization 2. KOF Globalization Index 3. Economic Growth
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Melnyk, Maryana I., and Ivan R. Zalutskyy. "Identification of globalizing factors of socio-economic development: the concept of endogenization." Regional Economy, no. 1(103) (2021): 14–30. http://dx.doi.org/10.36818/1562-0905-2022-1-2.
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The article addresses the problem of the impact of the modern socio-economic development globalization factors in the context of its endogenization. The authors argue that forming of the global economic system with high interdependence between regional integration entities and interaction of national economies in global conditions of uncertainty, instability, and unpredictability constitute the nature and main feature of modern globalization processes. Global interdependence is the major factor of global interaction for an efficient solution to joint problems, their prevention, and realization of joint interests, including political, economic, social, and environmental, etc. The fundamental interests of global interaction include the Sustainable Development Goals directed at “building forward better” based on the “leave no one behind” principle defined in the UN Sustainable Development Summit Resolution “Transforming our world: the 2030 Agenda for Sustainable Development” and the implementation of the Paris Climate Accords and European Green Deal. The globalization factors are identified following the methodology of KOF Globalization Index calculation on the national level: by globalization types – de-facto and de-jure; by the kind of globalization – economic, social, political; by the sub-kind of globalization – trade-based, finance-based, interpersonal, informational, cultural. The following issues are determined based on the content analysis of analytical, scientific, and legal sources and governance practices in the socio-economic development: main factors affecting de-facto the economic growth in Ukraine and its regions; external political factors that strengthen the relationship between the national economy and modern globalization processes and foster endogenous development of Ukrainian regions; factors of goal-oriented endogenization of regional development in Ukraine (domestic political, spatial, economic, social, environmental) as prospective drivers of sustainable socio-economic growth in Ukraine.
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Neagu, Olimpia, Teodora Porumbăcean, and Andrei Marius Anghelina. "Does Financial Development, Globalisation and Institutional Quality Drive the Income Convergence in the Central and Eastern European Union Countries?" Studia Universitatis „Vasile Goldis” Arad – Economics Series 33, no. 1 (January 6, 2023): 88–108. http://dx.doi.org/10.2478/sues-2023-0005.
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Abstract Central and Eastern European (CEE) countries are struggling with internal and external macroeconomic and social factors in their catching-up strategies to be closer, as economic wealth, to the Western developed European countries. In these ex-communist countries, institutional factors could be seen as critical for success in narrowing the income gap. The paper proposes an analysis of the impact of economic and financial development and globalization on the income gap in 11 Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czechia, Estonia, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia) for the period of 1996 to 2019, taking into consideration institutional factors. The study analyses the variables: transition coefficient as a proxy for income gap, GDP per capita, KOF Financial Globalisation Index, Financial Development Index and World Bank Institutional Indicators in a panel approach methodology and estimation of FMOLS and DOLS equations. The paper’s findings show that all considered factors have a significant contribution to the income gap in the examined period of time. Economic and financial development, as well as institutional quality, is positively associated with the closing income gap, while globalization has a negative influence. It is also revealed the direction of the causality relationship between the considered variables: from economic and financial development, globalization and institutional quality to the income gap. These findings suggest some policy recommendations in support of the continuation of the European integration process.
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Ivanova, S. V., and A. V. Latyshov. "New Globalization as an Exogenous Factor in the Formation of the Foreign Trade Policy of the Republic of Korea." Vestnik of the Plekhanov Russian University of Economics, no. 6 (December 18, 2018): 214–23. http://dx.doi.org/10.21686/2413-2829-2018-6-214-223.
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The article reveals the content of the "new globalization" concept and characterizes the readiness of the Republic of Korea (RK) for a new technological order. Based on the analysis of the values of different indicators (KOF Index of Globalization, Digital Evolution Index, Digital Adoption Index and a number of others), the conclusion about the high dynamics of Korean society integration into the new global economy is made. South Korea is among the leading countries in terms of digital implementation in business and public administration. The country has a well-established system of e-government, which, among other things, allows it to export the system to other countries of the world. The procedure of customs clearance of goods has been optimized, the "single window" technology has been introduced, public procurement is carried out only through electronic bidding. The traditional close relationship between the state and the chaebols makes it possible to successfully transfer the policy of digitalization into business practices. As a result, digitalization has a positive impact on the development of Korean foreign trade: on the one hand, it allows to increase exports due to the growth of goods and services of the IT sector and related industries, and on the other hand - to reduce the time and money spent on logistics, customs clearance and on the interaction between government agencies.
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Paluš, Hubert, Michal Dzian, Ján Parobek, and Mikuláš Šupín. "Globalisation Impacts on Timber Consumption in Slovakia." SHS Web of Conferences 129 (2021): 08014. http://dx.doi.org/10.1051/shsconf/202112908014.
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Research background: Globalisation is nowadays phenomenon which affects all economic sectors. The pros and cons of globalisation can also be observed in the case of forestry and forest-based complex in Slovakia. Timber trade and market follows the theory of derived demand, which means that demand for wood depends on the demand for final products. We can observe a significant impact of globalisation on changes in the use of wood from traditional to new ecological and sustainable use. Since 1993 the consumption of industrial roundwood in Slovakia has increased by almost 185%. Purpose of the article: The aim of this study is to examine the impact of globalisation on the consumption of coniferous and non-coniferous industrial roundwood in Slovakia, and to determine the relationship between the consumption of industrial roundwood and trends of globalisation trends in Slovakia. Methods: The development of KOF globalization index was analysed in the period 2003 to 2018. In addition, the development of the consumption of coniferous and non-coniferous industrial roundwood was examined. The correlation analysis and linear regression were used to analyse the relationship between the KOF globalisation index and development of consumption of coniferous and non-coniferous industrial roundwood in Slovakia. Findings & Value added: The results of correlation analysis show statistically significant relationship between globalisation and the development of consumption of industrial roundwood in Slovakia. We can conclude that the development of globalisation has more significant impact on consumption of non-coniferous industrial roundwood than on consumption of coniferous industrial roundwood.
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Čiderová, Denisa, Dubravka Kovačević, and Jozef Čerňák. "The Brexitologic of Competitiveness." Studia Commercialia Bratislavensia 12, no. 42 (December 1, 2019): 147–71. http://dx.doi.org/10.2478/stcb-2019-0013.
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Abstract Adam Smith finalised his magnum opus An Inquiry into the Nature and Causes of the Wealth of Nations between 1773 (Boston Tea Party) and 1776 (Declaration of Independence), and in its final paragraph Britain should “endeavour to accommodate her future views and designs to the real mediocrity of her circumstances”. The Wealth of Nations was “aimed to influence British MPs [Members of Parliament] to support a peaceful resolution to the American colonies’ War of Independence”, A. Smith “urged legislators to awaken from the “golden dream” of empire and avoid “a long, expensive and ruinous war”“, and “rejection of the protectionist Corn Laws in favour of opening up to the world economy marked the start of an era of globalization which contributed to Britain’s prosperity”, as Yueh (2019, p. 16f) puts it. Over the years, industrialization brought about by the Industrial Revolution has been challenged by deindustrialization, globalization by deglobalization. So with the “Brexit issue” at stake, what has been the “Brexitologic of Competitiveness”? In an earlier relevant series of analyses published by Čiderová et al. between 2012-2014 our focus was on the Global Competitiveness Index (alias the GCI by the World Economic Forum) in a spectrum of territorial and temporal perspectives related to the European Union. Now, in this follow-up comparative study zooming out to globalization and zooming in to competitiveness, our focus is streamlined to the “openended Brexit issue” on the background of updates of the GCI (alias GCI 4.0) and the KOF Globalisation Index (the latter by ETH Zürich).
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Mikhno, Inesa, Viktor Koval, Iryna Sedikova, and Viacheslav Kotlubai. "Digital Globalization in the International Development of Strategic Alliances." Economics. Ecology. Socium 6, no. 1 (March 20, 2022): 11–21. http://dx.doi.org/10.31520/2616-7107/2022.6.1-2.
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Abstract. Over the past century, the rate of globalization has substantially grown due to the increasing impact of transnational companies, development of digital communications systems, integration of new technologies and the increasing need for rapid response to changes by transforming life orientations of society. Establishment of strategic alliances and enlargement of international companies are becoming more relevant in the digital services and informational support sector because of the constant development of technologies and the enhancement of legislation in many countries regarding authors' rights, patenting and intellectual property, which encourages the search for new possibilities of reducing corporate expenses and expanding sales markets and influence.
Aim and tasks. The article is aimed at examining key globalization processes in the development of strategic alliances of transnational companies in the period of economy digitalization and providing recommendations for improving ecological and economic situations caused by globalization in developing countries.
Results. The article analyzes key risks caused by globalization processes, Ukraine’s current situation and future trends. It analyzes Ukraine’s major transnational companies and their operating strategies, develops an activity scheme of donor countries of transnational corporations and recipient countries that most frequently serve as a financial or resource potential for the company. One has advanced an assessment model of the globalization level in the country, developed the table of globalization effects. Using KOF Globalisation Index, one has made a forecast for the future of Ukraine and other countries, provided recommendations for improving its calculation by putting an index of ecological impact of international companies on the situation in the country and the ecosystem before and after company’s entrance to the national market.
Conclusions. Digital globalization processes increase the impact on international markets and establish a separate market of international digital services. Therefore, the establishment of strategic alliances based on digitalization and intelligent technologies enhances the efficiency of activities of transnational companies but requires further advancement of institutional support in the development of regulated rules of conduct on the information market. Following the analysis results, one has found out that the core problem of international companies operating in the territory of developing countries is the irrational use of natural resources. One has proven that, taking into account the level of globalization, it is viable to estimate the ecological impact of international companies on the ecosystem state in the given country, examine changes caused by globalization processes in natural systems as a result of social and political globalization changes in order to protect the economy and natural resources from the irrational use.
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Munko, Anna, and Myroslav Treshchov. "Ukraine in the world: socio-economic dimension." Naukovyy Visnyk Dnipropetrovs'kogo Derzhavnogo Universytetu Vnutrishnikh Sprav 2, no. 2 (June 3, 2020): 327–35. http://dx.doi.org/10.31733/2078-3566-2020-2-327-335.
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The article emphasizes that the issue of Ukrainian socio-economic development trends under globalization. Indicators of socio-economic development of Ukraine are analyzed on the basis of national statistical, financial and budgetary reports, data of the International Monetary Fund and the World Bank. The dynamics of such indicators over a period of 5 – 10 years, as well as the projected indicators for 2020 – 2023, are traced. Dynamic of GDP in constant prices has shown the results of relatively successful 2017 – 2019 formation of the upward period of the economic cycle which was characterized by moderate growth of real GDP within 3%. Ukraine is likely to be able to sustain such growth rates without significant upheavals, with a well-designed and reasonably stimulated economy. GDP by purchasing power parity for most European countries has shown a disappointing tendency. Ukraine has been among the outsiders for a long time (below – Moldova). Ukraine will continue to occupy the last positions in terms of economic development compared to other European countries despite the IMF's positive outlook for a steady increase in purchasing power. It is important to focus on improving financial and monetary policy, in particular, reducing and maintaining debt at the level acceptable by the Budget Code of Ukraine at 60% of GDP. In previous years, the share of debt in GDP reached a record 80% for Ukraine which violated the rules of the current legislation. Monetary policy should be aimed at improving the conditions for doing business, which will allow Ukraine to improve its position in the global ratings of competitiveness and ease of doing business. The most representative global indices are investigated and the positions of the state in world and European rankings are analyzed. There are: KOF Globalization Index, Corruption Perceptions Index, The Global Competitiveness Index, Ease of Doing Business, Global Innovation Index and E-Government Development Index, World Happiness Index. The basic tendencies of socio-economic development of Ukraine, risks and ways of their minimization are determined.
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Babateen, Abrar M., Gianfranco Fornelli, Lorenzo M. Donini, John C. Mathers, and Mario Siervo. "Assessment of dietary nitrate intake in humans: a systematic review." American Journal of Clinical Nutrition 108, no. 4 (October 1, 2018): 878–88. http://dx.doi.org/10.1093/ajcn/nqy108.
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Abstract Background The nitrate content of foods and water is highly variable, which has implications for the compilation of food-composition databases and assessment of dietary nitrate intake. Objective A systematic review was conducted to ascertain the dietary assessment methods used and to provide estimates of daily nitrate intake in humans. Design Relevant articles were identified by a systematic search of 3 electronic databases (PubMed, Web of Science, and Embase) from inception until February 2018. Observational studies conducted in adult populations and reporting information on dietary assessment methods and daily nitrate intake were included. Ecological analyses were conducted to explore the association of nitrate intake with indexes of economic development [Gross Domestic Product (GDP) and KOF Index of Globalization]. Results A total of 55 articles were included. Forty-two studies investigated associations between nitrate intake and disease risk; 36 (87%) of these studies examined the association between nitrate intake and cancer risk, whereas only 6 studies explored the association of nitrate intake with the risk of diabetes, glaucoma, kidney failure, hypertension, and atherosclerotic vascular disease. The majority of studies used food-frequency questionnaires to assess nitrate intake (n = 43). The median daily nitrate intakes in healthy and patient populations were 108 and 110 mg/d, respectively. We found a significant inverse correlation of nitrate intake with GDP (r = −0.46, P < 0.001) and KOF index (r = −0.31, P = 0.002). Conclusions The median estimated daily nitrate intakes by healthy and patient populations were similar, and these values were below the safe upper intake of daily intake (3.7 mg nitrate ion/kg body weight). However, there is considerable heterogeneity in the application of food-composition tables, which may have implications for the accuracy of estimated daily nitrate intake. The association between nitrate intake and risk of cardiometabolic diseases needs further investigation. The protocol for this systematic review has been registered in the PROSPERO database (https://www.crd.york.ac.uk/prospero; CRD number: 42017060354).
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Khan, Mukhtiar, Wajid Ali, and Asmat Khan. "Does Globalization Matter for Inflation in Pakistan? Empirical Evidence from Global Slack Hypothesis." Business & Economic Review 13, no. 2 (June 15, 2021): 111–46. http://dx.doi.org/10.22547/ber/13.2.5.
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This paper aims to evaluate the global slack hypothesis as well as to examine the impact of economic openness on the inflation trend and short-run Phillips curve. For this purpose, the study utilized the Auto Regressive Distributive Lag (ARDL) model to investigate how different measures of openness and global factors (global output and inflation) affect inflation over the period 1970 to 2018. In addition, we also investigate the effect of political regimes (1 for autocracy and 0 for democracy) on inflation and its various proxies in Pakistan. Unlike the existing work that has been done in Pakistan, this study has analyzed the global implications directly for inflation as well as the global slack hypothesis. Results indicate that trade openness is inflationary while financial sector development and the broad measure of openness which is the KOF index have had the opposite effect which might suggest the importance of other dimensions of globalization than trade only. One important finding is that the world output shock and world inflation directly transmit to Pakistan price inflation and in this sense, global factors along with economic openness have some association with inflation. The inclusion of political dummy variable has weaker explanatory power with negative sign maintaining that prudent macroeconomic policy during military regimes keep the inflation level lower. The empirical findings also suggest that although, the global slack hypothesis is validated its impact is not increasing over time. However, comparatively the global slack has dominated the domestic slack and in this sense, its importance has increased over time. Consequently, the process of globalization has important implications for inflation and its dynamics in Pakistan.
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Sajjad, Muhammad, Nishat Kaleem, Muhammad Irfan Chani, and Munir Ahmed. "Worldwide role of women entrepreneurs in economic development." Asia Pacific Journal of Innovation and Entrepreneurship 14, no. 2 (August 11, 2020): 151–60. http://dx.doi.org/10.1108/apjie-06-2019-0041.
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Purpose The contribution of women entrepreneurs is still invisible and needs to be properly investigated. The purpose of this paper is to investigate this relationship by measuring women entrepreneurship and economic development at global level. Design/methodology/approach Secondary data has been retrieved from Female Entrepreneurship Index Report 2015, Human Development Report 2015 and KOF Index of Globalization 2015. Cross-sectional data is used from 69 countries of the world. Multiple regression is applied to estimate the data. Findings The results explained the significant impact of women entrepreneurship on the economies of the world. It was observed that women participation in entrepreneurial activities not only supports to their family income but also plays a significant role in economic development and social well-being of the society. Research limitations/implications There is no information about total output of women entrepreneurs in terms of new enterprises setups and established businesses of women except for year 2015. So, to measure the real contribution of women entrepreneurs around the globe is still a challenge. Practical implications It is reality that when women would be empowered as entrepreneurs then whole society gets benefits from it, as women entrepreneurs are beneficial for not only economic development but also social development of society. Originality/value This study uniquely addresses the contribution of women entrepreneurs in the world economy which is still an unseen but a powerful benefactor of development.
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Bajrami, Roberta, Adelina Gashi, Kosovare Ukshini, and Donat Rexha. "Impact of the government size on economic growth in the Western Balkan countries." Journal of Governance and Regulation 11, no. 1 (2022): 55–63. http://dx.doi.org/10.22495/jgrv11i1art6.
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The Keynesian theory states that economic growth is positively affected by government spending, while Classical theory states that economic growth is negatively affected by government spending, as is stated by neoclassical public choice theorists (Nyasha & Odhiambo, 2019). Based on these theories, many authors have carried out research on the impact of economic freedom on economic growth by analyzing various empirical cases. Bergh and Karlsson (2010) with the findings from his paper confirmed that the countries with the highest government size have an elevated growth in the globalization index of KOF and the Fraser Institute’s economic freedom index. The main aim of this paper is to analyze the government size impact on the growth of the economy in the Western Balkan in the time period 2000–2017 according to Fraser Institute’s data, incorporating the following econometric models: fixed and random effects, pooled ordinary least squares (OLS), and Hausman-Taylor IV. With these models, this paper analyzes a government size and its components: government enterprises and investment, government consumption, transfers, and subsidies. The results illustrate a relationship between the size of the government and the growth of the economy in the Western Balkans that is positive. 1% increase in government size affects 0.29% gross domestic product (GDP) growth per capita. According to the Hausman-Taylor instrumental variable, 1% growth of government consumption is affected by 0.69% the decline in GDP per capita. The growth rate of transfers and subsidies affects 0.17% of GDP growth per capita and 1% of government enterprises and investment affects 0.54% GDP growth per capita.
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Wujung (Ph.D), Vukenkeng Andrew. "An Empirical Analysis of the Factors that Influence the Demand for Entrepreneurship in Cameroon." Journal of Economics and Public Finance 5, no. 1 (February 3, 2019): 70. http://dx.doi.org/10.22158/jepf.v5n1p70.
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<p><em>Population expansion and resource availability have been the basis for many entrepreneurial activities around the world. The presence of resources and the continuous drive to provide the ever growing needs of man has been a fortune for many entrepreneurs. Unfortunately, this is not a general rule as there are resources rich areas with little or no entrepreneurial activities. Within the context of this lack of standard rule for the development of entrepreneurship, this paper investigates the determinants of the demand for entrepreneurship in Cameroon using the<strong> </strong></em><em>Johansen co-integration procedures and the Error Correction Mechanism (ECM) based on data collected from the </em><em>World Development Indicators, WDI (2016) and the KOF globalisation index database between 1980 and 2017. After testing for the short and long run relationship, the study found out that population growth, technology and globalization negatively affects the demand for entrepreneurship in Cameroon while economic development positively and significantly determines the demand for entrepreneurship. On the basis of these findings, the study suggests that government should develop and enact policies that will sufficiently regulate the market and create the right business environment for the sustainability of entrepreneurial activities in Cameroon. While recognizing the role of population expansion in providing a market for business, overpopulation should not be tolerated as it becomes a liability in struggling entrepreneurialism. </em></p>
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Walayat, Khaula, and Dr Mehmood Khalid Qamar. "Globalization’s Effect on Environmental Degradation in Regional Cooperation." Journal of Law & Social Studies 3, no. 2 (December 31, 2021): 187–201. http://dx.doi.org/10.52279/jlss.03.02.187201.
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This study sctrutinize the impact of defacto and dejure GLOB (as in explained in KOF GLOB index 2018) on Environmental degradation in EAGLE, BRICKS, European Unions & NEXT11 countries. The defacto GLOB indicate the estimate of GLOB include variables that represent flows and activities, de jure estimate includes variables that shows policies that represents, enable flows and activities. Whereas the environmental GLOB is measured by CO2 Emission. The results show that dejure economic and social GLOB has significant impact on environmental degradation in EAGLE, BRICKS, European Union & NEXT11 countries which indicates that the favorable trade & financial GLOB policies in these countries enabled more economic GLOB led to more industrialization which deteriorates the environment in these countries. Yet political defacto & dejure GLOB has no significant impact on countries within these regional Cooperation’s.
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Mahnovskij, D. E. "Using the KOF Globalization Index in International Comparisons." TRENDS IN THE DEVELOPMENT OF SCIENCE AND EDUCATION, 2020. http://dx.doi.org/10.18411/lj-08-2020-82.
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