Achieving Socioeconomic Development Fuelled by Globalization: An Analysis of 146 Countries

Ajishnu Roy, Aman Basu and Xuhui Dong
Additional contact information
Ajishnu Roy: School of Geographical Sciences and Remote Sensing, Guangzhou University, Guangzhou 510006, China
Aman Basu: Department of Biology, York University, 4700 Keele St., Toronto, ON M3J 1P3, Canada
Xuhui Dong: School of Geographical Sciences and Remote Sensing, Guangzhou University, Guangzhou 510006, China

Sustainability, 2021, vol. 13, issue 9, 1-15

Abstract: Globalization is embedded in socioeconomic development at the glocal scale (local to global). Drawing up from Kate Raworth’s Doughnut economics framework coupled with UN Sustainable development goals, we interrogate the relationship of globalization for socio-economic development (2000–2017). Here we have applied the Spearman correlation and data envelopment analysis to assess the efficiency of nations in ‘converting’ their level of globalization towards achieving socio-economic development along with trends of reaching the just operating space for 146 countries. Then, we calculate improvement targets and identify trends among income categories (World Bank). We have also analyzed the Malmquist productivity index for 34 large economies to understand spatiotemporal trends of change in efficiency and their contributing components (2001–2015). We have found that productivity change was mostly influenced by technical progress. A large group of countries are moving towards crossing desired thresholds; however, some are harnessing globalization efficiently to get assistance. It is possible to maintain dual achievement. However, some of the countries are lagging in one or both aspects. Most countries could attain just operating space even with their existing level of globalization. Our findings reveal the importance of the dual achievement: using contemporary features (such as globalization) for the benefit of socioeconomic development.

Keywords: globalization; socioeconomic development; just operating space; Malmquist productivity index; data envelopment analysis; sustainable development goals (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/13/9/4913/pdf (application/pdf)
https://www.mdpi.com/2071-1050/13/9/4913/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:9:p:4913-:d:544630

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().