How Global is Globalization?

Jac C Heckelman, Andrew Young

Research output: Contribution to journalArticlepeer-review

Abstract

We examine a balanced panel of globalization indices for 129 countries over the years 1991-2010. We report evidence of cross-country sigma convergence in the overall globalization index. Sigma convergence also holds for each of the economic, political, and social globalization indices, as well as each sub-index within these indices. However, the evidence for stochastic convergence, based on panel unit root tests, is only strong for the political globalization index. Regarding the economic and social<br>dimensions of globalization, respectively, we find evidence for stochastic convergence only in the flows and cultural proximity sub-indices. For the OECD subsample, evidence supports stochastic convergence for the overall, economic and political globalization indices. Evidence to support regional convergence among the non-OECD nations on various globalization dimensions is much more limited. Our findings<br>indicate that globalization convergence is truly global only on the political di
Original languageEnglish
Pages (from-to)83-93
JournalJournal of Regional Analysis and Policy
StatePublished - Aug 2018

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