Measuring Globalization: KOF’s Index
Globalisation is not a new phenomenon. From the ancient era, people used to share their ideas in need of their livelihoods, survival. Globalization is a broad concept, used to describe a variety of phenomena that reflect increased economic, social and political interdependence of countries. Thus globalisation indicates global interactions, in terms of economic, political, social, cultural and environmental dimensions, as integration in a way to be globally connected. However, there are debates concerning the impacts of globalisation on the well being of the humanity, but no doubts about its existence. Many developing countries are participating to globalized world, which increased the concerns about globalization and its impacts on different aspects of life, as well. Therefore, the objective assessment of the consequences of globalization is an important agenda for contemporary development discourse. Here, it is necessary to understand it clearly which creates increasing demands of measuring it as well.
The measurement of globalisation using indices is a recent development. The globalisation indices of World Markets Research Centre (WMRC, 2001) and the A.T. Kearney-Foreign Policy (ATK/FP) are the pioneer in the field of measuring globalisation. ATK/FP index is a broader index and probably the most widely-known measure of globalisation. In addition, it is used as the benchmark for many alternative globalisation indices. Among other recent attempts to quantify globalisation, Salamon and Sokolowski’s (2004) Global Civil Society Index, Centre for the Study of Globalisation and Regionalisation (CSGR, 2006) index of the University of Warwick, the Maastricht Globalisation Index (MGI) and the index produced by the KOF Swiss Economic Institute are renowned (Dreher et el, 2008).
The KOF’s Globalization index and Bangladesh:
The KOF globalisation index was first published in 2002, which covers 123 countries and includes 23 variables. The overall index includes the economic, social and political dimensions of globalisation. The recent KOF index of 2012, introduces an updated version of the original index, employing more recent data with a wide coverage of 187 countries. Belgium, Ireland and the Netherlands are headed the index, whilst Timor-Leste, Kiribati and the Equatorial Guinea are at the bottom of the list. Bangladesh ranked 154 among the 187 countries with a score of 40.73.
| | |Graph: | | | |South | |Asian | |Countries | |in KOF | |Index, | |2012 |
According to this index, Nepal (37.44) and Bhutan (28.85) are less globalized than Bangladesh, among the neighbouring South Asian countries. Pakistan (52.18) and India (51.88) are leading the index among the region, followed by the Sri Lanka (50.15) and Maldives (41.24).
Table: Different dimensions of Globalization in South Asian Countries
|KOF Index |Economic Globalization |Social Globalization |Political...
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