Measures Of Globalization Research Articles

Social distancing attitudes, national context, and health outcomes during the COVID-19 pandemic: Findings from a global survey

This study analyzes global health consequences of the new coronavirus disease by focusing on the roles of normative beliefs on social distancing and country-level factors, i.e., mobility estimate and globalization index. We fitted mixed effects models to examine the associations between two outcome measures, depression and self-rated health, and their multilevel determinants using a subset of Global Behaviors and Perceptions in the COVID-19 Pandemic, an online survey consisting of more than 100,000 participants from 67 nations. Results show that both personal beliefs and general beliefs significantly predict depression and poor health. There is also a contextual effect of globalization on depression. In addition, the relationship between general beliefs and depression is stronger in countries with lower rates of mobility. With respect to poor health, the effect of general beliefs similarly varies inversely with the level of globalization. Our study indicates that one's own beliefs and the perception of others' regarding social distancing, along with contextual factors (measures of mobility and globalization), critically shape mental and physical health. Subjective and objective factors should be considered, in other words, in properly understanding the differential impact of COVID-19 across the world.

A Structural Approach to Measuring the Degree of Economic Integration: Evidence From G-7 Countries.

This paper infers the degree of economic integration amongst G-7 countries by estimating a two country DSGE model separately for each country in the group. In doing so, the two economies in the model are represented by the observations for a specific country and the corresponding values for the rest of G-7. To infer the degree of economic integration, the model's shock processes are reconfigured so that they include a component that is common for each economy and shocks can be transmitted from one economy to the other. Capturing the degree of economic integration by the relative contribution of common and foreign shocks to the variation of domestic variables, the paper draws inferences that are at odds with those based on more traditional measures of globalization. Countries that are more open to trade and financial flows in the data are ranked lower in terms of economic integration according to post-estimation statistics.

Globalization, Freedoms and Economic Convergence: An Empirical Exploration of A Trivariate Relationship Using A Large Panel

Using a large panel for 95 countries and the 1972-2014 period, this paper analyses the interactions among globalization, political & civil rights and economic convergence, through a simultaneous estimation technique. We use a multi-dimensional, de facto, and continuous measures of Freedoms and Globalization. We find a two-way positive relationship between civil liberties & political rights and economic, political and social Globalization, as well as significant two-way relationships with the economic convergence (using as a proxy the ratio of GDP per capita to the US). In this way, we extend the test for the two-way relationship between Democracy and Globalization put forward by Eichengreen and Leblang (2008). Overall, we also find a virtuous cycle between Globalization, Freedoms and Economic convergence, except for non- OECD countries at early intermediate stages of development. This positive systemic effect can be put into question by the recent negative shocks on Globalization and Freedoms related to the Covid-19 pandemic.

Globalization and Environmental Pollution in Sub-Saharan Africa

Using data from 38 Sub-Saharan African countries for the period from 1980 to 2017, this paper investigates the effects of globalization on environmental pollution by making distinction between the de jure and de facto aspects. The de facto globalization measures include variables that represent flows and activities whereas the de jure measures include variables that represent economic policies that, in principle, orient flows and activities. The second generation panel data tests by Pesaran enables to check the cross-sectional dependence and unit root of the variables. The panel specification with the estimation approach by Hoechle is used to account for spatial dependence, heteroscedasticity and errors autocorrelation. We find that globalization and its de jure and de facto aspects contribute positively to environmental pollution in SSA by increasing the carbon dioxide (CO2) emission. Policymakers must take action to control long-run CO2 emission for sustainable development.

Inflation Dynamics, Globalization and Monetary Policy: Empirical Evidence from Selected South and Southeast Asian Countries

The present study investigated the impact of monetary policy and globalization on inflation. The study utilized an updated measure of globalization along with two other dimensions i.e., de facto and de jure measure of globalization to examine the nature of the globalization-inflation relationship. It measures the impact of monetary policy variables on inflation, ignoring random shocks as these are considered minor fractions for the inconsistency of the policy instruments. The study also used the Hodrick Prescott filter to calculate the domestic output gap to assess the notion that the changes in the domestic output gap are still relevant to inflation variations in the presence of globalization. Structural modeling of dynamic heterogeneous panel data estimation technique, which accounts for endogeneity and serial correlation issues has also been employed. The results of the study confirm that both global and domestic factors have significant and descriptive power for domestic inflation. Furthermore, the interest rate is found to be a major nominal anchor to affect inflation. The results of panel causality showed that there exists bidirectional causality from inflation to interest rate, while mixed results were found for analyzing monetary aggregates, exchange rate, globalization, and domestic output gap relationships.

Globalization and affordability of microfinance

We study how globalization can differentially affect financial inclusion through the lens of microfinance. Based on an institutional logics perspective, we argue that MFIs embody both social logic and market logic with regard to provision of affordable microfinance loans. Speicially, social logic is amplified by greater social globalization and the stronger presence of nonprofit organizations (NPOs) in the microfinance industry. In contrast, economic globalization catalyzes MFIs' market logic, leading to weaker or greater affordability of microfinance, depending on the relative strength of the profit-maximizing motive and real competition. We test these predictions by focusing on MFI interest-rate setting and using longitudinal data from 2030 MFI observations across 50 countries from 2002 to 2012. We find that country-level social globalization measure is negatively associated with the average MFI loan interest rates and that country-level economic globalization measure has an inverse U-shaped relationship with the average MFI loan interest rates. These results support our hypotheses and suggest a more nuanced view on how globalization affects affordability of microfinance.

Globalization and female economic participation in MINT and BRICS countries

PurposeThis study examines the effect of globalization on female economic participation (FEP) in MINT (Mexico, Indonesia, Nigeria and Turkey) and BRICS (Brazil, Russia, India, China and South Africa) countries between 2004 and 2018.Design/methodology/approachFour measures of globalization are employed and sourced from KOF globalization index, 2018, while the female labour force participation rate is a proxy for FEP. The empirical evidence is based on the Pooled Mean Group (PMG) estimator.FindingsThe findings of the PMG estimator from the Panel ARDL method reveal that political and overall globalization in MINT and BRICS countries have a positive impact on FEP, whereas social globalization exerts a negative impact on FEP in the long-run. It is observed that economic globalization has no long-run effect on FEP. Contrarily, all the measures of globalization reflect no short-run effect on FEP. This supports the argument that globalization has no immediate effect on FEP. Thus, it is recommended that both MINT and BRICS countries should find a way of improving the process of globalization generally to empower women to be involved in economic activities.Originality/valueThis study complements the extant literature by focusing on how globalization dynamics influence FEP in the MINT and BRICS countries.

Is employment globalizing?

While work within many industries increasingly involves competition and cooperation with workers in other countries, we show that national labor markets have not necessarily globalized very fast. This is because the most globally intertwined industries have tended to shed workers to less globally connected industries, creating a de-globalizing, between-industry countertrend. We characterize between- and within-industry trends in three measures of labor market globalization over timespans of 16-50 years in 40-68 countries. We also clarify which policy debates each measure is most relevant to. While our results strongly support this globalization within-industries, deglobalization between-industries story, they also underscore how few empirically defensible conclusions can be drawn about trends in some dimensions of labor market globalization. The idea that nations’ labor markets have globalized dramatically in recent decades, and that this calls for economy-wide overhaul of policies and institutions, rests on rather little empirical evidence.

Assessing the sustainability of public health in the era of globalization

In recent times, globalization has emerged as more than purely an economic phenomenon manifesting itself on a global scale. The elements of globalization include international movement of goods and people, financial capital, and information along with technological developments, political dynamics, tourism, and ecological consequences. This study used the Globalization Convergence Index (GCI) as a measure of multi-dimension globalization and linked it with health indicators to analyze if high-ranking countries were doing better in terms of mortality rates. Different statistical tests were performed to measure the impact of the globalization process on mortality indicators of public health. Findings suggest that highly globalized countries have better health measured in the form of low mortality rates. On domain level, technology was found to be the major driving force for reducing mortality rates followed by social-cultural and ecological domains. In globalization debate, the top-ranked countries were usually lauded as “achievers”, while low-ranked ones were regarded as “losers”. In our opinion, care should be taken while interpreting the observed positive association as simple evidence that globalization is mostly good for our health.

Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter?

This study examines the impact of globalization(s) on renewable energy consumption in OECD countries by endogenizing per capita GDP, oil prices and per capita carbon emissions. We use robust globalization(s) as measured by the “classic”, “reconstructed” and “revisited” globalization indexes. The novel method of Machado and Silva Panel quantile regression (2019) approach is used to obtain robust findings for the renewable energy consumption-globalization nexus. The results confirm the presence of a long-run association between renewable energy consumption with globalization(s), per capita GDP, oil prices and per capita carbon emissions. The empirical results also describe that there are positive effects for per capita income, the real price of oil and carbon emissions per capita on the renewable energy consumption. In addition, a higher level of (overall, economics, social and political) classic globalization promotes renewable energy consumption, while the “reconstructed” and “revisited” economic globalization reduces the use of renewable energy consumption, and this finding is also robust to different measures of economic globalization. Moreover, the panel quantile regression reveals that renewable energy consumption increases the domestic economy in the middle (0.50) quantile group of the population through importing more advanced technology and positive spilling over markets, while the lower quantile group and the higher quantile group of the population are using non-renewable (coal, wood) energy because of the livelihood practice that is based on coal and wood (for the lower quantiles group of the population) and for the sake of speedy growth (for the higher quantiles group of the population) that worsens the environmental quality without caring for the contents of globalization.

The handicap for enhanced solidarity across advanced economies: The greater the economic openness higher the unequal distribution of income

AbstractPerspectives on degree of economic openness have been discussed by different paradigms resulting in concluding remarks which differ widely from each other. However, the existing literature has passed over the importance of the relationship between economic openness and income distribution in relation to the bargaining framework and thus its effect on social solidarity. In this paper, the rationale is based on the argument that an increase in the degree of economic openness has a significant impact on the distribution of income through the channels of trade and financial account. The empirical results show that a more open economic environment leads to an unequal distribution of income, both reducing labor's share and increasing income inequality, through the collapse of bargaining power of labor in favor of capital across advanced economies over the 1996–2014 period. However, the results also suggest that the trade channel is a more effective influence on income distribution than the finance channel. Additionally, other globalization measures, including economic, social and political factors, also have negative effects on income distribution by way of reducing the bargaining power of labor, which results in the collapse of social solidarity and cohesion over time.

The Paradox of Corporate Globalization: Disembedding and Reembedding Governing Norms

The discussion begins with the current purpose debate. it is then divided into five parts. The first draws a baseline of corporate globalization and traces key policy measures that created its enabling environment. The second identifies the paradox of corporate globalization: at the very height of the recent globalization boom multinationals discovered that their legal license to operate, provided by states, did not in itself translate into a social license. Firms responded by adopting enterprise-wide corporate social responsibility (CSR) as a management tool. Although quite superficial in its early iterations, in retrospect this marked the first step toward systematically engaging stakeholder, if only in the attempt to placate them. The following two sections recap the institutional strategies and cascading effects of two global initiatives intended to narrow the gap between legal and social license: the UN Global Compact, the world’s largest corporate engagement platform, and the UN Guiding Principles on Business and Human Rights, the global standard in this space. Both reflect, and contributed to, the further normative evolution through which the corporation came to be viewed – in the end by many firms themselves. The conclusion returns to the current corporate re-purposing debate and reflects on what, if any, contributions it is making to rebalancing market and society, and to people and planet challenges humanity faces today.

Rediscovering the EKC hypothesis for the 20 highest CO2 emitters among OECD countries by level of globalization

In an era of globalization, climate change is considered a huge threat to humanity. With this in mind, and while countries continue to seek economic growth, the question arises: what are the repercussions of globalization on the environment? Through an analysis of the relationship between economic development and environmental degradation, assessing the Environmental Kuznets Curve using the economic, social, and political dimensions, and the de jure and de facto measures of globalization, this study provides evidence for the influence of expanding globalization on environmental performance for 20 of the highest carbon-dioxide-emitting countries within the Organisation for Economic Co-operation and Development. The countries were divided into high-globalized countries and low-globalized countries, according to their ranking of overall globalization. In order to provide robust results, the Driscoll-Kraay estimator was performed from 1990 to 2016. The results reveal evidence of the Environmental Kuznets Curve for the high-globalized group, but not for the low-globalized group. Political globalization is shown to be a tool for mitigating environmental degradation, while economic globalization is harmful for it. Furthermore, there is evidence of different effects of de jure and de facto globalization.

Association between International Diversification Strategy and Future Stock Price Crash Risk

This paper tests whether the corporate global diversification lessens the information asymmetry between the firm and the investors and thus associated with a negative future stock price crash risk in Korean stock market. As the increased integration of global economies, an increasing number of firms have pursued global diversification over time. However, less attention has been given to the economic consequences or benefits in equity market from global diversification. Using a large sample of firms listed in KOSPI over 2000-2017, this paper finds that the degree of corporate globalization is less likely to experience firm-specific future stock price crashes. The results are consistently robust across alternative measures of globalization and crash risk. Moreover, the additional finding shows that the negative association between globalization and future crashes is pronounced when the firms are not followed by analysts. And discounts for global firms significantly decrease in economic downturns, suggesting an incremental hedging benefit of diversification. These findings are robust when the estimates account for the endogeneity of globalization. Overall, the empirical findings suggest that corporate diversification may create an business and information environment that partly mitigates the managerial opportunistic motives to withhold bad news, supporting positive effect of global diversification.

Inflation, Globalization and Interest Rate Nexus to Curb Price volatility: An Empirical Cross-Country Analysis

The aim of the present study is to investigate the long run impact of monetary policy and globalization on inflation in the selected South and South East Asian countries. The study measures the impact of monetary policy variables on inflation, ignoring random shocks as these are considered fewer fractions for the inconsistency of the policy instruments. Two exclusive dimensions, defacto and dejure measure of globalization, are taken into account. The study also employed Hodrick Prescott filter to calculate the domestic output gap in order to assess that still changes in domestic output gap is relevant to inflation variation. It employed structural modeling dynamic heterogeneous Panel data estimation technique, which accounts for endogeneity and serial correlation issues. The results of the study confirm that both global and domestic factors have significant and descriptive power for domestic inflation and interest rate is found to be a best nominal anchor to effect inflation.

Examining the Effect of Globalization on Insurance Activities in Large Emerging Market Economies

This study applies the cross-sectionally augmented distributed lag long-run estimation technique alongside bootstrap panel Granger causality testing to examine the impact of globalization on insurance market activities in large emerging market economies. Economic, social and political globalization indices are considered separately. Two alternative measures of globalization (de facto and de jure) are also used in each case for our estimations. The empirical results confirm the following; first, empirical outcomes are slightly sensitive to the choice of globalization measure used. Second, cross-sectional dependence and cross-country heterogeneity exist among large emerging market economies. Third, causality varies across large emerging economies with different conditions. We make a case for de facto measures as the most appropriate since they reflect actual practices rather than policy claims. We thus reach the conclusion that all dimensions of globalization positively impact life and non-life insurance density.

The impact of economic globalization on renewable energy in the OECD countries

This paper analyzes the determinants of renewable energy consumption in the panel data of 30 OECD countries for the period from 1970 to 2015. The unique role is given to the effect of economic globalization on renewable energy. We consider several measures of economic globalization and apply different econometric techniques. We find the positive impact of the per capita income, the per capita carbon dioxide emissions, and the real price of oil on renewable energy. Also, a higher level of economic globalization promotes renewable energy, and the evidence is robust to the different measures of economic globalization. In line with our findings, promoting the economic aspects of globalization will enhance renewable energy. Thus it can suppress the adverse effect of climate change and global warming on living human beings and natural habitats in the long-run. Therefore, we need to enhance our knowledge of how globalization promotes renewable energy not only for the OECD countries but also for other developing and developed economies. From a policy perspective, we suggest that policymakers and governments in OCED countries should consider economic globalization as a “renewable energy promoting mechanism” while designing their energy demand policy for the protection of natural environmental health.

Localization, urbanization and globalization: Dynamic manufacturing specialization in the YRD mega-city conglomeration

This paper proposes a theoretical framework to understand the change of manufacturing specialization by investigating the effects of localization, urbanization and globalization. Using the data of the 2004, 2008 and 2013 Enterprise Economic Census of China, we first describe the spatial characteristics of manufacturing specialization at the county level in the YRD territorial mega-city conglomeration. The effects of localization, urbanization and globalization are then modelled using random effect panel regression with GLS estimation. The empirical findings indicate that manufacturing specialization shows a significant upward trend from 2004 to 2008 and is then replaced with a decrease trend from 2008 to 2013. The peripheral urban areas have a high specialization index, while the rest of urban conglomeration is associated with low manufacturing specialization. Localization factors such as markets and land price have a positive effect on manufacturing specialization, but the effect of labor wage is inconclusive, and government industrialization initiatives discourage manufacturing specialization. The factors, such as level of urbanization, city size all tend to be negatively correlated with manufacturing specialization. The impact of globalization on manufacturing specialization varies depending on the specific measures of globalization, because market enlargement effect and home market effect of globalization both exist in the YRD.

Construction of nursing knowledge in commodified contexts: A discussion paper.

This original article outlines a theoretical path and posterior critical analysis regarding two relevant matters in modern nursing: patterns of knowing in nursing and commodification contexts in contemporary health systems. The aim of our manuscript is to examine the development of basic and contextual nursing knowledge in commodified contexts. For this purpose, we outline a discussion and reflexive dialogue based on a literature search and our clinical experience. To lay the foundation for an informed discussion, we conducted a literature search and selected relevant articles in English, Spanish, and Portuguese that included contents on patterns of knowing, commodification, and nursing published from 1978 to 2017. Globalization, commodification, and austerity measures seem to have negative effects on nursing. Work conditions are worsening, deteriorating nurse-patient relationships, and limiting reflection on practice. Nurses must develop knowledge to challenge and participate in institutional organization and public health policies. Development of nursing knowledge may be difficult to achieve in commodified environments. Consequently, therapeutic care relationships, healthcare services, and nurses' own health are compromised. However, by obtaining organizational, sociopolitical, and emancipatory knowledge, nurses can use strategies to adapt to or resist commodified contexts while constructing basic knowledge.

Globalization and Female Economic Participation in MINT and BRICS countries

This study examines the effect of globalization on female economic participation (FEP) in MINT (Mexico, Indonesia, Nigeria & Turkey) and BRICS (Brazil, Russia, India, China & South Africa) countries between 2004 and 2018. Four measures of globalization are employed and sourced from KOF globalization index, 2018, while the female labour force participation rate is a proxy for FEP. The empirical evidence is based on Pooled Mean Group (PMG) estimators. The findings of the PMG estimator from the Panel ARDL method reveal that political and overall globalization in MINT and BRICS countries have a positive impact on FEP, whereas social globalization exerts a negative impact on FEP in the long-run. It is observed that economic globalization has no long-run effect on FEP. Contrarily, all the measures of globalization posit no short-run effect on FEP in the short-run. This supports the argument that globalization has no immediate effect on FEP. Thus, it is recommended that both MINT and BRICS countries should find a way of improving the process of globalization generally to empower women to be involved in economic activities. This study complements the extant literature by focusing on how globalization dynamics influence FEP in the MINT and BRICS countries.