geography - globalisation

globalisation =

its the growing interdependence of countries worldwide through increasing the volume and variety of cross border transactions in goods and services, freer international capital flows and more rapid and widespread diffusion of technology

economic globalisation =

development of economies and wealth. largely caused by the growth of TNC’s

social globalisation =

development of income, people lifted out of poverty, migration, health, education, social media, and reduction in inequalities

‘Americanisation and Mcdonaldisation’

political globalisation =

growth and spread of western democracies and their influence on poor and developing countries. decline of centralised economies opening up of economies to allow globalisation e.g. china

cultural globalisation =

impact of western culture, art, media, food, language, sport and leisure pursuits on the world. awareness of different cultures and norms due to increased globalisation

what is the KOF index of globalisation

its a composite index that quantifies that degree of globalisation of countries. the index covers 190 countries and assesses globalisation across 3 dimensions; economic, social and political

what does the KOF index of globalisation measure

it measures globalisation along the economic, social and political dimension for almost every country in the world on a scale from 1 - 10

whats the KOF index of globalisation strengths

wide range of data

relevant data

it has a weighting system

allows a comparison

whats the KOF index of globalisation weaknesses

bias in rankings

limited representation

geographical distribution

ignores informal sector and migration

favours smaller nations

what does the KOF index of globalisation take into account

24 variables e.g. economic flows, economic restrictions, cultural proximity and personal contact