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Asymmetric Convergence in Globalization? Findings from a Disaggregated Analysis

Paschalis Arvanitidis, Christos Kollias and Petros Messis
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Petros Messis: University of Macedonia, Greece

Managing Global Transitions, 2016, vol. 14, issue 2 (Summer), 117-135

Abstract: Using the KOF index of globalization that allows for the multidimensionality of the process, the paper sets out to examine the presence of convergence among countries in the three dimensions of the globalization process: economic, social, political. The sample used in the empirical investigation consists of 111 countries and covers the period 1971–2011. To allow for differences in the speed of convergence, countries were clustered into four income groups: high, upper middle, lower middle and low income in line with the World Bank’s classification. The results yielded and reported herein point to an asymmetric process of convergence with different speeds both between groups as well as in the different dimensions of globalization.

Keywords: globalization; convergence; unit roots (search for similar items in EconPapers)
JEL-codes: C23 F01 F60 (search for similar items in EconPapers)
Date: 2016
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