The drivers of globalisation:
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To the extent to which a nation-state is globalised in a particular year has until most recently been measured employing simple measures like flows of trade, migration, or foreign direct investment. A more sophisticated approach to measuring globalisation is the Globalization Index calculated by the Swiss economic institute, KOF. The index covers 208 countries.
The KOF Index of Globalisation measures the three main dimensions of globalisation:
- and political.
In addition to three indices measuring these dimensions, the index also refers to:
- actual economic flows
- economic restrictions
- data on information flows
- data on personal contact and
- data on cultural proximity.
Some of the highlights from the 2010 KOF press release:
- Belgium comes first in the globalization stakes. Austria, which was in 3rd place last year, now ranks 2nd. This year's fast climber is Luxembourg, which advanced from 21st place to 14th place. Switzerland still comes 4th on the globalization index. While economic and political globalization is advancing, social globalization is stagnating.
- The emerging markets in Eastern Europe and Central Asia are recording the biggest jump on the index.
- In East Asia and the Pacific region, the globalization process has slowed down compared to the previous year, while index rankings actually went down in the Near East and North Africa.
- Macedonia made the biggest jump, advancing 25 places to rank 65.
- Myanmar, Kiribati and the Solomon Islands are at the bottom of the league.
Although released in 2010, the current analysis refers to the year 2007. Consequently, the developments triggered by the financial and economic crisis are not yet included.