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Globalization Development Within the Group of Twenty (G20) as Indicated by Globalization and Innovation Indices

In: Globalization and Development

Author

Listed:
  • Nezameddin Faghih

    (UNESCO Chair Professor in Entrepreneurship)

  • Mahshid Sazegar

    (Fars Engineering Association)

Abstract

This chapter undertakes a taxonomic study of globalization development within the Group of Twenty (G20) as indicated by globalization and innovation indices. This study considers the impact of innovation promotion factors on the “globalization development degree” (fi) for the G20 member states and investigates how the globalization development of G20 members relates to the innovation promotion factors extracted from the Global Innovation Index (GII) indicators, used as the secondary data for the period 2012–2017. The KOF Index of Globalization is also used as the secondary data (the corresponding data for the period 2012–2017). KOF provides a globalization index and three subindices of globalization in its three main dimensions, i.e., economic globalization, social globalization, and political globalization. Consequently, the G20 member states (including the EU) are compared with each other, and nine variables are considered during the time period 2012–2017: four variables are the KOF index and its three subindices and five variables correspond to GII country ranking scores, as well as two variables selected from the GII input subindices (institution and business sophistication) and the two output subindices, namely, knowledge and technology outputs and creative outputs. The results manifest and demonstrate coherence between G20 economies under the gravity of globalization: a good example for the emerging markets worldwide. Moreover, in the wake of Brexit, the findings of this research shed light on a historical irony: United Kingdom’s leadership in globalization development during the recent years, followed by Germany, Canada, France, and the United States. Thus, the taxonomic study reported in this chapter provides an identification of country globalization development and presents relevant information to policy-makers, who seek to apply effective strategies and policies under the impact of globalization.

Suggested Citation

  • Nezameddin Faghih & Mahshid Sazegar, 2019. "Globalization Development Within the Group of Twenty (G20) as Indicated by Globalization and Innovation Indices," Contributions to Economics, in: Nezameddin Faghih (ed.), Globalization and Development, pages 15-48, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-14370-1_2
    DOI: 10.1007/978-3-030-14370-1_2
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    More about this item

    Keywords

    G20; Taxonomy; Globalization; KOF (globalization index); GII (Global Innovation Index);
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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