Email this article Can Economic Globalization be Measured?
Abstract
Globalization has many meanings but it is generally defined as economic and political interdependence on a worldwide scale through the increasing speed, ease, and extent with which goods, capital, services, technologies, people, cultures, information and ideas cross borders all around the world. In this paper, three definitions, from IMF, WB and European Commission, of eeconomic globalization were adopted. From this, four aspects of trade, capital movement, movement of people and spread of knowledge and technology were branched out into 11 variables. Each variable were looked at and discussed in its current relevance to economic globalization. It can be concluded that with this updated identified variables, it can be adopted to measure the level of economic globalization in future studies.
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