Effectiveness of Globalization and Human Capital on Market & Net Income Inequality in NEXT11 Countries: A Panel Data Analysis

This study scrutinizes the impact of defacto and dejure GLOB (KOF GLOB index 2018) on Income inequality on economically emerging countries; NEXT11 countries. The defacto GLOB indicates the estimate of GLOB including variables representing activities and flows; de jure estimate includes variables which show policies representing enable flows and activities. Our analysis separates the impact of globalization on net and market income inequalities. Pretax/transfer and the post-tax/transfer GINI indices were employed as the measures of income inequality. This analysis used balanced panel for NEXT11 countries for the period 1990-2015. Economic globalization both defacto and dejure showed positive sign that depicts a significant relationship with dependent variable. It explains that defacto political has positive sign and dejure political globalization decreases inequality while economic globalizations in both divisions have positive sign and significant impact on inequality. Interestingly, defacto social globalization has positive sign but dejure social has positive sign. Moreover, the purchasing power parity and age dependency both have negative sign and significant influence on inequality. These conclusions point out that social and political globalization may be a hindering factor for governance in these countries.

Asymmetric Relationship of Global Human Obesity and Political Globalization Through World Human Development Levels

Background: Political globalization is a crucial and distinct component of strengthening global organizations. Obesity is a global epidemic in a few nations, and it is on the verge of becoming a pandemic that would bring plenty of diseases. The focus of this research is to see how the political globalization index affects worldwide human obesity in relation to global human development levels. Methods: In order to assess any cross-sectional dependence among observed 109 nations, the yearly period from 1990 to 2017 is analyzed using second generation panel data methods. KAO panel cointegration test and Feasible Generalized Least Square model were used to meet our objectives. Results: Low level of political Globalization tends to increase global human obesity because countries cannot sway international decisions and resources towards them. While the high level of political Globalization tends to reduce obesity because they can control and amends the international decisions. For the regression model, a feasible Generalized Least Square model was utilized. The study observed that the R squared values for all models are healthy, with a minimum of 87 percent variables explaining differences in global obesity at the country level. Conclusion: There is a very important to tackle globalization issue to reduce global human obesity. Simplicity of dietary options and the amount of physical labour they undergo in their agricultural duties, an increase in rural population percentage tends to lower the average national obesity value.

Religion as an Instrument of Soft Power in International Relations

The article examines the cases of using religion as a “soft power” in the example of Russia and Turkey. Based on foreign policy strategies, each state forms its own discourse in the use of religions as “soft power”. The article substantiates the idea that world religions have the greatest potential in solving interstate issues, as carriers of a unique historical experience of spiritual and political globalization, as institutions of spiritual power that accumulate significant material and other resources, as well as as institutions of civil society that promote the values of freedom and humanism. The use of religion as «soft power» becomes another argument in criticizing the theories of secularism. The analysis of the discourse of religion as a “soft power” was made on the example of the foreign policy strategies of Russia and Turkey, taking into account their political authority in the international arena, as well as their perception as one of the centers of world religions.

Revisited Globalization’s Impact on Total Environment: Evidence Based on Overall Environmental Performance Index

This study aims to examine the impact of globalization on environmental performance by employing panel data for 148 countries from 2001 to 2018, via the indicator of Environmental Performance Index to capture the overall environmental quality and KOF index to measure the multi dimensions of globalization. The empirical results suggest that globalization is critical to environmental performance, which is reliable while we conduct several robustness tests. Furthermore, if globalization increases, it would be beneficial for the environmental performance; moreover, among specific dimensions of globalization, economic globalization, social globalization and political globalization would bring about better environmental performance. Besides, the improvement of globalization, social globalization and political globalization would bring about better environmental performance, while that of economic globalization cannot change the overall environmental performance. Our study offers more insight into the relationship between globalization and environmental performance.

Assessing the impact of globalization on stock market in Ukraine

The article is devoted to studying the impact of globalization processes on the development of national economies. In particular, the indicators of assessing the impact of globalization on financial and non-financial indicators of countries' development are considered. Attention is paid to the place of Ukraine in the KOF Globalization Index 2020 ranking, namely in terms of economic, social, and political globalization. The author has formed three groups of indicators that allow assessing the influence of globalization on the securities market of a country. The first group includes indicators that help determine the degree of integration of the national securities market into the global one. The second group includes indicators that determine the extent to which domestic securities legislation and principles of securities market regulation are adapted to international standards. The third group of indicators is aimed at quantifying the impact of trends in the global securities market on the national. The article examines the impact of one of the indicators of the third group on the securities market of Ukraine. In particular, the correlation analysis of the relationship between the Ukrainian PFTS index and the indices of American, British, European, and Polish stock markets was conducted. The author made conclusions about the availability of the significant correlation between global stock indices, as well as the weak impact of global securities market trends on the dynamics of the Ukrainian market. It was also revealed during the analysis, that the level of correlation between indices depends on whether the financial market is in crisis. Particularly, the analysis covered three periods: the 2008-2010 financial crisis, the 2020-2021 Covid-19 crisis, and the 2010-2020 period between the crises.

Emerging middle powers and the liberal international order

In the post-Cold War era, a number of middle powers rose to prominence thanks to domestic reforms and a favourable international environment of economic and political globalization. These countries began to pursue middle power foreign policies, working actively in international organizations, engaging in areas such as conflict mediation, humanitarian assistance and the promotion of human rights, and helping to diffuse democracy and market reforms in their neighbourhoods. In this way, they contributed to the stability and expansion of the liberal international order in the post-Cold War period. Nonetheless, recent democratic and economic backsliding in these middle powers raises concerns. Focusing on the cases of Turkey and Mexico, this article explores how reversals in democratic and market reforms, exacerbated by recent trends towards deglobalization, influence emerging middle powers' foreign policies and their potential contributions to the liberal international order. I argue that whereas their rise had helped reinforce and expand the liberal international order, emerging middle powers' illiberal turn may have a destabilizing effect on this order.

Globalization, Democracy and Child Health: Asia vs. Latin America

Child mortality in an important indicator of shortcomings in health provisions to the most vulnerable segments of the society i.e., children under five. In this highly connected world, the trends in child mortality need exploration within the context of institutional change and global connectivity. This study explores the effect of globalization on child health in Asia and Latin America. These two regions over the last three decades have undergone waves of liberalization as well as an inconsistent drive towards democratization with very different outcomes in terms of child mortality, making for apt comparison in the context of this study. The study also examines how the level of democracy changes the relationship between globalization and child health in the two regions for the time-period 1970 to 2016 using System GMM estimation technique. The results indicate that economic globalization improves child health in Asia while social and political globalization show different results for infant and child mortality. In Latin America political globalization was found to be most effective in reducing infant mortality, while all dimensions of globalization were found to be either insignificant or increasing under-five mortality. That said, the interactions between dimensions of globalization and democracy were found to be consistently significant and mortality reducing. This result signifies the existence of complementarity between democracy and globalization in improving child health outcomes.

Do economic, social and political globalization affect terrorism? Fresh evidence from international panel data

Purpose This paper aims to investigate the impact of economic, social and political globalizations on the incidents of global terrorism. Design/methodology/approach The authors apply negative binomial regressions model because the variable is event count. The sample size covers 195 countries from 1990 to 2017. Findings There is strong evidence that the higher level of economic and social integrations internationally lead to a reduction in terrorist activities. However, the results relating to political globalization are inconsistent. Comparing the top 20 most affected countries with the full sample, the authors find a negative association between economic globalization and terrorism, whereas social and political globalization is found to be statistically insignificant. Finally, the evidence holds firmly pre-9/11 attacks on World Trade Centre. Research limitations/implications This paper suffers through the lack of consensus on a unique and consistent definition of terrorism. The definition of terrorism varies across time and countries. Furthermore, there is a variation among the main databases of terrorism, which could potentially affect the reliability of findings. Practical implications This paper provides policymakers with a policy recommendation that the economic and social integration across countries should be encouraged, as it might decrease the number of terrorist events taking place worldwide. In addition, the benefits of economic development generated through global integration must be fairly distributed across societies as an effort to decrease motivation of disgruntles population to involve in terrorism. Originality/value This paper contributes empirically to the existing literature through investigating the impact of economic, social and political globalizations on the incidents of terrorism worldwide.

ECONOMIC GLOBALIZATION BETWEEN EXPANSION AND LIMITS. SOME CONCEPTUAL CONSIDERATIONS

This article tries to answer to the question if the actual wave of globalization may be considered viable under the conditions of increasing inequalities, poverty, environmental degradation, behavioral rules of international markets and other important factors. The author considers that the last wave of globalization cannot be fully feasible on the long run, based upon several arguments offered by the specialized studies in the field and from important data evidence reported by some international economic organizations. By definition, the globalization of the economy reflects a reality that has various meanings. Being focused on the free movement of goods and capital, this phenomenon does not necessarily imply a political globalization, although it cannot be completely detached from this field. That is why, from the beginning, it has offered the possibility to large multinational corporations to operate everywhere in the world, thanks to the unprecedented development of transport and communications that have reduced material production costs and permitted companies to be in close and permanent contact. Moreover, the author tries to demonstrate that contemporary economic globalization, in the same respect, is less integrated and interconnected, therefore more limited, than many could realize. Those limits influence important aspects of economic life and especially the economic environments in different countries, regardless of the characteristics and level of development. Factors such as economic gaps between nations, poverty and inequality, international migration and the new protectionism could, and most probably will, have an important impact upon the shape and pace of the economic globalization phenomenon. Realities such as different economic standards for North and South, fragmentary character of protectionism, intense fluctuations of international remittances remain as essential arguments supporting this idea.