Levin Institute (2020) defines Globalization as a process of interaction and

integration between individuals, businesses, and governments of various countries. It is

also a process stimulated by information technology. Thus, it affects different aspects

such as culture, politics, environment, society, and economic development across the

world. However, in an article written by Silvia Marginean (2015) entitled, “Economic

Globalization: From Microeconomic Foundation to National Determinants”, the definition

and measures of globalization was explored.

Upon reading the mentioned study, there are three things that I essentially

learned. First, I found out that globalization does not have a specific and generally

accepted meaning because it contains a broad variety of topics which leads the impact

scale of globalization to be measured not just for its openness of countries but even the

individual and firm level of international interaction. Second, globalization is complex. As

indicated in the context, it has a changing character. This statement was also agreed by

the McKinsey Global Institute (2019) wherein it was elaborated that globalization shifted

once it entered a new stage through the current demands and advanced technologies.

Lastly, I learned how globalization was measured. By means of international economic

integration indicators, it determines the available date in a long time series as well as in

different areas.

Furthermore, besides the lessons that I gained; I also have three things that are

still unclear to me. One of these was the reason why globalization has multiple

definitions. In fact, in the study of Al-Rodhan & Stoudmann (2006), they concluded a

total of 114 terminologies for globalization. Another one was the perspective of

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microeconomic factors since it was mentioned in the objective of the paper that it would

answer whether what is the important factor and yet, microeconomics was elaborated

minimally. The last thing that was not clarified for me was if globalization helped to feed

the hungry which has an influence for the community, what is its impact towards political

matters?

Meanwhile, as I have read the research paper, I accrued three things. Before, I

used to think that globalization is merely a trade from different countries. It has its own

specific definition and is a new phenomenon. Now, I realized that globalization is

deeper as it seems since it scopes wide variety of aspects the reason why it has a set of

meaning. It is not definitely not a new phenomenon because it already had its first,

second, and third wave in the early years.

Moreover, in spite of the thoughts that I have shared regarding the topic, I have a

few questions that I want to ask about the article. These are: (1) In the context,

Maastricht Globalization Index (MGI) and ATK Globalization Index (ATK-GI) are indexes

used in measuring globalization, what are the other indexes besides the two

mentioned? (2) Since globalization is not a new phenomenon and existed between

1880 and 1913, what is the concept of globalization in that era? (3) If the article

discusses the definition and measures of globalization, is there a research paper that

entails about the origin of globalization?

In conclusion, the definition of globalization is essential to determine how it

influences different views. It would also give a description on how it gradually changes

as time passes by. On the other hand, measuring globalization provides data which

tracks the changes. As Katherine Yester (2009) also suggested that economic

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integration is also measured by the Globalization Index. It monitors the movement of

goods and services by assessing the shifting share of international trade in the

economy of each country and measures the penetrability of national borders through

the interconnection of international and domestic prices. Indeed, the definition and

measurement of globalization actually helped in assessing which factor is important,

micro or macro.

References:

 Marginean, S. (2015). Economic Globalization: From Microeconomic Foundation

to National Determinants. Retrieved from: https://learn-ap-southeast-1-prod-

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Signature=dd7d5fbeccd7a8f204bd6bd97541c9c96f50ba42a69b8907efc1d0ce0b

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 McKinsey Global Institute. (2015) Five hidden ways that globalization is

changing. Retrieved from: https://www.mckinsey.com/featured-

insights/innovation-and-growth/five-hidden-ways-that-globalization-is-changing#

 Yester, K. (2009). Measuring Globalization. Retrieved from:

https://foreignpolicy.com/2009/11/20/measuring-globalization/