The KOF Globalisation Index – revisited

By Savina Gygli, Florian Haelg, Niklas Potrafke, Jan-Egbert Sturm. Revista Internacional de Organizaciones, 2019

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We introduce the revised version of the KOF Globalisation Index, a composite index measuring globalization for every country in the world along the economic, social and political dimension. The original index was introduced by Dreher (Applied Economics, 38(10):1091–1110, 2006) and updated in Dreher et al. (2008). This second revision of the index distinguishes between de facto and de jure measures along the different dimensions of globalization. We also disentangle trade and financial globalization within the economic dimension of globalization and use time-varying weighting of the variables. The new index is based on 43 instead of 23 variables in the previous version. Following Dreher (Applied Economics, 38(10):1091–1110, 2006), we use the new index to examine the effect of globalization on economic growth. The results suggest that de facto and de jure globalization influence economic growth differently. Future research should use the new KOF Globalisation Index to re-examine other important consequences of globalization and why globalization was proceeding rapidly in some countries, such as South Korea, but less so in others. The KOF Globalisation Index can be downloaded from http://www.kof.ethz.ch/globalisation/.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/7050e7a6be64fe00bda455495045650244668857

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Citations in the corpus

Financial development, globalization and ecological footprint in G7: further evidence from threshold cointegration and fractional frequency causality tests (2020, methodology): “Hafeez et al. (2019) performed panel regression analysis for 49 Belt and Road initiative countries from 1990 to 2017 and found that financial development has an adverse effect on carbon footprint. Rahman et al. (2019a) used the generalized method of moment models, dynamic seemingly unrelated regress”
Examining the causal impacts of tourism, globalization, economic growth and carbon emissions in tourism island territories: bootstrap panel Granger causality analysis (2018, methodology): “Globalization Index (GA): We employ the newly introduced globalization index put together by Dreher (2006) and recently updated by Gygli, Haelg, and Sturm (2018).”
Investigating the role of environmental taxes and regulations for renewable energy consumption: evidence from developed economies (2021, neutral): “The OECD countries currently account for 63% of world GDP (measured in constant 2010 US dollars) and are responsible for 80% of the world trade; consequently, the member countries collaborate at regional, national, and local levels (Gygli et al., 2019).”
The impact of globalization and economic freedom on economic growth: the case of the Latin America and Caribbean countries (2018, neutral): “Nowadays, the KOF Index of Globalization is seen as the best way to measure globalization (Gygli et al. 2018; Potrafke 2015; Dreher et al. 2008), with the most recent literature corroborating this fact by using this index as well (e.”