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The general purpose of the paper is to examine the effect of financial globalization on income inequality. The specific purposes are: 1) To examine the effect of overall financial globalization on income inequality. 2) To analyze whether de facto and de jure financial globalization have differential effects on income inequality. 3) To scrutinize whether the effect of financial globalization on income inequality varies across countries of different income groups and quantiles of income inequality.

The authors employed panel quantile regression using 73 countries over 2000–2016 to examine the effect of financial globalization on income inequality. The authors employed fixed effect and panel quantile regressions and classified the countries into income groups to compare differential effects of financial globalization across different income groups. Further, the authors unbundled financial globalization into de facto and de jure financial globalizations to investigate whether their effects on income inequality vary.

Overall financial globalization raises income inequality more at lower quantiles of inequality. De jure financial globalization reduces income inequality in high-income countries. In high-income countries, de jure financial globalization has more favorable income distribution at lower quantiles of inequality. In contrast, de facto financial globalization raises inequality regardless of income classification of the countries.

To the best of the authors’ knowledge, the authors for the first time employed panel quantile regression to analyze whether financial globalization affects income inequality across different quantiles. In addition to de facto globalization, the authors used the newly developed de jure financial globalization index to examine its impact on income inequality. The de jure dimension is largely neglected in the literature. The authors provide empirical evidence on how the different dimensions of financial globalization, de facto and de jure, impact inequality in high-income, middle-income and low-income countries.

This study examines the effect of globalization on female economic participation (FEP) in MINT (Mexico, Indonesia, Nigeria and Turkey) and BRICS (Brazil, Russia, India, China and South Africa) countries between 2004 and 2018.

Four measures of globalization are employed and sourced from KOF globalization index, 2018, while the female labour force participation rate is a proxy for FEP. The empirical evidence is based on the Pooled Mean Group (PMG) estimator.

The findings of the PMG estimator from the Panel ARDL method reveal that political and overall globalization in MINT and BRICS countries have a positive impact on FEP, whereas social globalization exerts a negative impact on FEP in the long-run. It is observed that economic globalization has no long-run effect on FEP. Contrarily, all the measures of globalization reflect no short-run effect on FEP. This supports the argument that globalization has no immediate effect on FEP. Thus, it is recommended that both MINT and BRICS countries should find a way of improving the process of globalization generally to empower women to be involved in economic activities.

This study complements the extant literature by focusing on how globalization dynamics influence FEP in the MINT and BRICS countries.

The authors reinforce the existing literature on the effect of overall globalization on institutional quality (IQ), while incorporating the effects of economic, political and social aspects of globalization, human capital, government expenditure and population growth. To this end, the authors estimate panel data models for a sample of 36 member countries of the Organization of Islamic Cooperation (OIC) during 1984–2016.

The authors employ the cross-sectional autoregressive distributed lags (CS-ARDL) approach.

The study’s investigation affirms the presence of an inverted U-shaped (nonlinear) relation between overall globalization and IQ indexes for the sample countries, which suggests no additional room for improvement in IQ. It also underpins the existence of an inverted-U-shaped (nonlinear) relation between political globalization and IQ. In contrast, economic and social globalizations have a U-shaped relation with IQ, implying more scope for improvement.

The findings have key policy implications. First, policy makers should consider a long-run approach for improving IQ and globalization over time. Second, quick reforms in the short run may not improve IQ.

The results suggest that policy makers should approach the globalization process from a long-run perspective as well by designing appropriate strategies to provide a continuous but gradual increase in globalization so as to systematically monitor the threshold limits to IQ from improving globalization

To the best of the authors’ knowledge, this work is the first to empirically investigate the overall role of globalization in promoting IQ under the conditions of short-run heterogeneity and long-run homogeneity. The authors focus on the member countries of the OIC, many of which are ruled by authoritarian regimes and suffer from a poor domestic institutional setting.

The purpose of this paper is to encourage discussions regarding the existing approaches to globalization measurement (taking mainly the form of indices and rankings) and their shortcomings in terms of applicability to developing Global Studies curricula. Another aim is to propose an outline for the globalization measurement methodology that would take a systemic approach to revealing the global flows (both their direction and content) and networks, which will allow the multidimensionality in globalization measurement crucial for proposing and verifying formal explanations and hypotheses, as well as for developing globalization forecasts.

Several methodologies for globalization measurements are compared in the paper, among the most important are variations of the index compilation methodology, and methods of network analysis.

For Global Studies curricula, globalization measurement tools much more complex than indices are needed. A possible solution could lie in the analysis of country-to-country flows (and networks which these flows form), which appears much more data- and effort-consuming than the methodologies behind the index compilation, will allow the elaboration of a systemic vision of globalization and the interactions between its various aspects, which should necessarily underlie the Global Studies curricula.

The research concentrates upon the most widespread approaches to globalization measurements, such as the most widely recognized globalization indices, and the few attempts at country-to-country flows and networks measurement.

The paper's originality/value lies in proposing an outline for a new multidimensional approach to measuring globalization based upon country-to-country flows and networks.

This study aims to analyse the impact of digital divide (DD) on income inequality in sub-Saharan Africa over the period 2004–2016.

In applying a finite mixture model (FMM) to a sample of 35 sub-Saharan African (SSA) countries, this study posits that DD affects income inequality differently.

The findings show that the effect of DD on income inequality varies across two distinct groups of countries, which differ according to their level of globalization. In addition, the study shows that most globalized countries are more inclined to be in the group where the effect of DD on income inequality is negative. The results are consistent with several robustness checks, including alternative measures of income inequality and additional control variables.

This study complements that extant literature by assessing linkages among the DD, globalization and income inequality in sub-Saharan African countries contingent on cross-country heterogeneity.

This study aims to assess the effect of globalisation on governance in 51 African countries for the period 1996-2011.

Ten bundled and unbundled governance indicators and four globalisation variables are used. The empirical evidence is based on Generalised Method of Moments.

Firstly, on political governance, while only social globalisation improves political stability, only economic globalisation does not increase voice and accountability and political governance. Secondly, with regard to economic governance: only economic globalisation significantly promotes regulation quality; social globalisation and general globalisation significantly advance government effectiveness; and economic globalisation and general globalisation significantly promote economic governance. Thirdly, with respect to institutional governance, while only social globalisation improves corruption-control, the effects of globalisation dynamics on the rule of law and institutional governance are not significant. Fourthly, the impacts of social globalisation and general globalisation are positive on general governance.

It follows that political governance is driven by voice and accountability compared to political stability; economic governance is promoted by both regulation quality and government effectiveness from specific globalisation angles; and globalisation does not improve institutional governance for the most part.

Governance variables are bundled and unbundled to reflect evolving conceptions and definitions of governance. Theoretical contributions and policy implications are discussed.

The purpose of this paper is to propose a conceptual framework associating globalization, workforce diversity, and deviance and suggest micro-macro HRM strategies to overcome challenges associated with the workforce diversity and workplace deviance.

A systematic review of literature of past 25 years was carried out with the key word “globalization, workforce diversity, and deviance” from several electronic databases.

Findings propose micro-macro HRM strategies to be adopted by HR practitioners in Association of Southeast Asian Nations (ASEAN) organizations to manage workforce diversity and deviance in the age of globalization.

The challenges due to workforce diversity may get worse because ASEAN is more incongruent in terms of phases of economic, social, cultural, and political advancement. Therefore, proposed model can be tested and compared in different ASEAN organizations.

There is a dearth of literature associating globalization, workforce diversity, and deviance. This paper bridges this gap by proposing a conceptual framework in the ASEAN context and suggests micro-macro HRM strategies to be adopted by HRM practitioners to overcome associated challenges with workforce diversity and deviance.

This paper aims to analyse globalisation, localisation and glocalisation on the real estate market and define the characteristic features of a glocal real estate market (GREM). The GREM involves real estate properties and real estate products, as well as linking the local and global dimensions of real estate market. Further aims of the study were to provide a methodology for developing the glocal real estate market index (GREMI), and compare selected European markets by analysing their glocalisation potential.

A novel method of identifying and assessing the GREM was prepared in the work. The methodology provides tools for calculating the GREMI. This is an index based on a few dozen variables from various thematic scopes, describing the glocalisation potential of a selected market, calibrated to a range <0, 1>. GREMI values were calculated for 12 countries, which accessed European Union (EU) in 2004. The sample covers period from 2004 to 2017.

The study shows that the GREMI continues to increase in all countries over time and the results are becoming synchronised. Romania is a country with the highest number of minimum GREMI values in all years (2004–2017). The highest values of the GREMI were determined in Estonia over the period of nine years (2004–2006, 2008 and 2013–2017).

The prepared index may be applied to analyse different real estate markets, though the necessity to select an identical set of variables for analysis to allow for comparing between markets is a limitation for applying the method. The actual selection of variables is also a study limitation, which was of an opening nature to research in this scope and may be disputable.

This paper provides the original methodology of the GREMI index for countries joining the EU from 2004 onwards.

The study's objective is to examine the relevance of globalization in affecting the size of the shadow economy in selected African nations.

To do this, the authors employ the KOF globalization index and implement both static and dynamic common correlated mean group estimators on a panel of 24 African nations from 1995–2017. This technique accommodates the issue of cross-sectional dependence, sample bias and endogenous regressors. Panel threshold analysis is also conducted to establish the nonlinearity between globalization and the shadow economy. To examine the causality between the variables, the study employs Dumitrescu and Hurlin's panel causality test.

The results show that globalization reduces the size of the shadow economy. The results of the nonlinear analysis suggest a U-shaped relationship. Overall globalization has a threshold impact of 48.837%, economic globalization has 45.615% and political globalization has 66.661% while social globalization has a threshold value of 35.744%. The results of the panel causality show that there is a bidirectional causality between the two variables.

The results suggest that the government and other relevant authorities need to introduce capital controls and other policy measures to moderate the degree of social, political and cultural diffusion. Appropriate policies should be formulated to monitor the extent of African economic openness to other continents to maximize the gains from globalization.

Apart from being the first study in the African region that evaluates the relevance of globalization in controlling the shadow economy, it also analyzes the dynamics and threshold analysis between the two variables using advanced panel econometrics which makes the study unique. The study suggests that globalization tools are useful for affecting the size of the shadow economy in Africa. This study provides fresh empirical evidence on the impact of globalization on the shadow economy in the case of Africa.

Using annual data from 1970 to 2013 for China and India, this paper aims to examine the impact of globalization and financial development on economic growth by endogenizing capital and inflation and drawing comparisons between the two fastest growing emerging market economies.

In the long run, co-integration test results indicate that financial development increases economic growth in China and India.

The results also reveal that globalization accelerates economic growth in India but, surprisingly, impairs economic growth in China, as it increases competition for exports. The results furthermore disclose that acceleration in capitalization and inflation, as a proxy for aggregate demand, are positively linked to economic growth in China and India.

Causality test results indicate that both financial development and economic growth are interdependent. In contrast, causality runs from higher economic growth to increased globalization in India, while the results do not support long-term causality between globalization and economic growth in China.