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KOF Index - Coggle Diagram
KOF Index
Economic Globalization
Characterized as long distance flow of goods, capitals and services, as well as information and perceptions that accompany market exchanges.
Actual Flows
The sub-index on actual economic flows (including data on trade, FDI (foreign direct investment)- investing directly into foreign investments, and portfolio investments- investing in stocks and shares)
Restrictions
The second index refers to restrictions in trade and capital using hidden import barriers, mean tariff rates on international trade (such as share revenue) and an index of capital controls.
Based on the IMF's annual report on exchange arrangement and exchange restrictions, includes 13 different types of capital control.
Background information
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Globalization is a process that erodes national boundaries, integrates national economies, cultures, technologies and governance and produces complex relations of mutual independence.
Social Globalization
Expressed as a spread of ideas, information, images and people.
Personal contacts
Capture direct interaction among people people from different countries. (including international telecom traffic, and the degree of tourism a country's population is exposed to.)
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Cultural Proximity
Using imported and exported books (reletive to GDP) suggested by Kluver and Fu (2004) - shows the values move across borders.
Cultural globalization mostly refers to the dominant of US cultural products. (Eg, McDonalds and number of IKEA per country)
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