ARE GLOBALIZATION AND GOVERNANCE INTERRELATED? EVIDENCE AMONG WORLD ECONOMIES
Journal Title: Journal of Globalization Studies - Year 2016, Vol 7, Issue 2
Abstract
This paper is to explore a new way to look at globalization and governance. The objective of this paper is to quantify the degree of globalization together with the degree of governance. The differences of our indices from existing literatures are that we use principal component analysis for both indices, and we improve on how indices are computed by taking Lockwood (2004) suggestions; and we also improve on the variables in the indices such that looking at the pair indices at the same time would reflect the interaction of globalization and governance for individual economies. We include intra-industry trade in the globalization index such that the degree of globalization is more accurately reflect in the index. We include aspects that reflect the quality of life, namely, health, education and quality of labor, on top of institutional governance in the governance index. Unlike the existing literatures, we do not intend to concentrate on decomposing various factors of globalization and governance; instead, we believe that policy makers can make use of the pair indices to formulate their governance policies to accommodate and advance the globalization process of their economies.
Authors and Affiliations
Michael Chi Man Ng
Keywords
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