Measuring co-movement of globalization and democratization in the time–frequency space

Yung-hsiang Ying (), Koyin Chang (), Ginny ju-ann Yang () and Chen-hsun Lee ()
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Yung-hsiang Ying: Undergraduate Program of Business Administration, National Taiwan Normal University
Koyin Chang: Department of Healthcare Information and Management, Ming Chuan University
Ginny ju-ann Yang: Department of Money and Banking, National Kaohsiung First University of Science and Technology
Chen-hsun Lee: Department of Money and Banking, National Kaohsiung First University of Science and Technology

Economics Bulletin, 2014, vol. 34, issue 1, 206-219

Abstract: In the fields of political science and economics there has been a recent surge of interest in the co-movement of globalization and democratization. Wavelet coherency analysis was first used to measure the co-movement of globalization and democratization in time and frequency domains. We collected our data from the period 1948-2010. The results were as follows: (1) Co-movement is weaker for fluctuations with a duration of less than 3 years during the period from 1950-1990, with the exception of significantly positive co-movement with a duration of greater than 4 years during 1965-1975; and (2) positive long-term, mid-term, and short-term co-movement was indicated after 1990, among which positive short-term to short mid-term co-movement was the most significant. These results suggest that the Cold War influenced the interaction between democratization and globalization.

Keywords: Globalization; Democracy; Co-movement; Wavelet Coherency Analysis (search for similar items in EconPapers)
JEL-codes: F5 (search for similar items in EconPapers)
Date: 2014-02-04
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