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Article
Publication date: 30 April 2024

Charis Vlados and Dimos Chatzinikolaou

This study aims to analyze the emergence of a new structural configuration of globalization, with the 2008 global financial crisis serving as the first symptom of this change. By…

Abstract

Purpose

This study aims to analyze the emergence of a new structural configuration of globalization, with the 2008 global financial crisis serving as the first symptom of this change. By introducing the “Evolutionary Structural Triptych” (EST), this research seeks to understand the basic components of the new evolutionary trajectory of global capitalism post-2008. The study places emphasis on its interdependent and coevolving economic, political and technological dynamic facets.

Design/methodology/approach

This research introduces the EST framework, critically contrasting it with conventional understandings in international political economy (IPE) to provide a comprehensive and structured analysis of global developments after 2008. It traces the phases of global capitalism since Second World War, examines the central dynamic dimensions during each evolutionary phase, identifies the basic patterns and delves into the foundational elements of the emerging era of globalization.

Findings

The analysis reveals three key findings. First, the emerging restructured globalization indicates a need for a new balance in the contemporary world system; however, this balance cannot be achieved within the architecture of the old system. Second, the new era of globalization necessitates a re-equilibrated approach across different dimensions of geopolitical stability, economic development and innovation. This approach should emphasize sustainability, adaptability, resilience and inclusivity and lean toward responsible, open and organic innovation models for a revamped global structure. Third, while many current IPE theories tend to compartmentalize aspects of the new globalization, the EST advocates for a holistic perspective that integrates politics, economics and technology within the framework of global trends. This perspective bridges existing gaps and offers actionable insights for a dynamic and inclusive global future.

Originality/value

The paper presents the EST as a novel analytical instrument in the realm of the modern IPE. This tool uniquely places technology and innovation at the forefront, parallel to economic and political spheres, to comprehend the progression of globalization. In doing so, it highlights the intertwined relationship of these structural dimensions in shaping the future of the subject of the IPE.

Details

Journal of Global Responsibility, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2041-2568

Keywords

Article
Publication date: 18 March 2024

Olatunji Shobande, Lawrence Ogbeifun and Simplice Asongu

This study aims to explore whether globalization and technology are harmful to health using a global panel data set of 52 countries over the period 1990–2019.

Abstract

Purpose

This study aims to explore whether globalization and technology are harmful to health using a global panel data set of 52 countries over the period 1990–2019.

Design/methodology/approach

The study focused on four continents: Africa, the Americas, Asia/Oceania and Europe. The authors used four advanced econometric methodologies, which include the standard panel fixed effect (FE), Arellano–Bover/Blundell–Bond dynamic panel, Hausman–Taylor specification and two-stage least squares (FE-2SLS)/Lewbel-2SLS approaches.

Findings

The empirical evidence highlights the significance of globalization and technology in promoting global health. The findings suggest that globalization has various impacts on global health indicators and that technology is useful in tracking, monitoring and promoting global health. In addition, the empirical evidence indicates that a truly health-centred process of globalization and technological innovation can only be realized by ensuring that the interests of countries and vulnerable populations to health risks are adequately considered in international decision-making regarding global economic integration.

Originality/value

The authors suggest that achieving the aspiration of global health will entail the use of globalization and information technology to extend human activities and provide equal access to global health.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

Keywords

Book part
Publication date: 25 May 2022

Somnath Chattopadhyay and Suchismita Bose

The study constructs a composite indicator to rank macroeconomic performance of countries and a separate composite indicator to rank countries by inequality using the TOPSIS…

Abstract

The study constructs a composite indicator to rank macroeconomic performance of countries and a separate composite indicator to rank countries by inequality using the TOPSIS methodology of Multiple Criteria Decision-Making Analysis. The intuitive idea of TOPSIS is to formulate an ideal solution with respect to each individual policy variable; the relative rank of any country is then determined, using a suitable distance metric, such that the best performer simultaneously has the shortest distance from the ideal solution and the farthest distance from the non-ideal. It uses the composite indicator based rankings together with the KOF Globalization Index and sub-indices based rankings to examine the overall relationship between globalization and macroeconomic performance of countries and reduction in inequality; the impacts of trade and financial globalization for 1990–2018 across countries and groups of the globe. It shows that though highly correlated with growth, globalization may not necessarily lead to an improvement in overall macroeconomic performances of countries when one also takes into account unemployment and inflation. Economic globalization is seen here to mostly coincide with rise in income inequality. Observations also support the fact that countries, even if they are not highly integrated may reap sufficient benefits of globalization for macroeconomic performance and inequality diminution given supportive policies.

Details

Globalization, Income Distribution and Sustainable Development
Type: Book
ISBN: 978-1-80117-870-9

Keywords

Book part
Publication date: 25 May 2022

Sayantani Roy Choudhury

Globalization is a process of interaction and integration among the countries, their people, their businesses, and their governments. It is a change driven by international trade…

Abstract

Globalization is a process of interaction and integration among the countries, their people, their businesses, and their governments. It is a change driven by international trade, implemented by various policies and aided by modern technology. It has impacts on the environment, culture, political systems, economic development and prosperity, and human physical well-being in societies around the world. But there can be some negative impacts as well. One possible outcome of globalization of all sorts can be the income inequalities. Objective of this chapter is to search for any such connection. Gini coefficient, unemployment rate, Below Poverty Line (BPL) is taken to understand the extent of inequalities in different countries. Outcome shows some countries do not show any association between globalization and income inequalities; some do. Therefore, there are some other variables which influence the above relationship. This chapter tries to identify all such background factors. It reveals that factors like level of development, demographic structure, urbanization, adult and tertiary level of education and government expenditure share in higher education play important roles. All these have different magnitudes of impacts on change in income distribution due to the initial process of globalization.

Details

Globalization, Income Distribution and Sustainable Development
Type: Book
ISBN: 978-1-80117-870-9

Keywords

Book part
Publication date: 1 December 2008

Antoinette Errante

My framework is based upon a grounded analysis (Glaser & Strauss, 1967) of a review of the existing social science and education literature regarding globalization and peace from…

Abstract

My framework is based upon a grounded analysis (Glaser & Strauss, 1967) of a review of the existing social science and education literature regarding globalization and peace from approximately 1960 to the present. My review consisted of identifying emergent themes in the literature and from these identifying conceptual categories and the relationships among them that could explain some of the ways in which globalization, peace, and educational processes are linked. I approached the literature as a “cache of documents” (Glaser & Strauss, 1967), that is, as bodies of literature reflecting certain sensibilities regarding globalization and peace. My framework is based upon an analysis of how these sensibilities have influenced the reproduction of inequalities through the education sector as a socialization and policy context.

Details

Power, Voice and the Public Good: Schooling and Education in Global Societies
Type: Book
ISBN: 978-1-84855-185-5

Article
Publication date: 29 December 2023

Karikari Amoa-Gyarteng and Shepherd Dhliwayo

This study clarifies the intricate nature of globalization's impact on unemployment rates in South Africa. Given the heterogeneous views on globalization's effect on economic…

Abstract

Purpose

This study clarifies the intricate nature of globalization's impact on unemployment rates in South Africa. Given the heterogeneous views on globalization's effect on economic development, this study aims to offer a nuanced perspective. Furthermore, it aims to explore the mediating role of entrepreneurial development in shaping the complex relationship between globalization and unemployment.

Design/methodology/approach

The study employs four key indicators to measure entrepreneurial development, globalization and unemployment rates in South Africa. Hierarchical regression is used to evaluate the relationship between globalization and unemployment rates, and how entrepreneurial development mediates this relationship. Additionally, both the Sobel test and bootstrapping analyses were employed to verify and validate the mediating relationship.

Findings

The study demonstrates that globalization constitutes a crucial determinant of (un)employment rates in South Africa. The study shows that entrepreneurial development, specifically in the context of established business ownership, but not total early-stage entrepreneurial activity, exhibits an inverse relationship with unemployment rates. Moreover, it was observed that the positive impact of globalization on entrepreneurial development in South Africa becomes evident as SMEs advance to the established stage.

Research limitations/implications

The study's concentration on South Africa constrains the applicability of the results to other nations.

Practical implications

Based on the findings of this study, it is essential for emerging economies, such as South Africa, to take measures to foster a robust entrepreneurial ecosystem that can aid in the growth and international competitiveness of young SMEs.

Originality/value

To the best of the authors' knowledge, this study represents the first endeavor to analyze the potential impact of entrepreneurial development, as measured by both nascent and mature SMEs, on the correlation between globalization and unemployment.

Details

Journal of Small Business and Enterprise Development, vol. 31 no. 2
Type: Research Article
ISSN: 1462-6004

Keywords

Book part
Publication date: 15 February 2021

Partha Gangopadhyay, Agung Suwandaru and Walid Bakry

Public employment in India is often viewed as a source of job security. Hence, public employment seems to propel human security in India away from poverty and social exclusion. In…

Abstract

Public employment in India is often viewed as a source of job security. Hence, public employment seems to propel human security in India away from poverty and social exclusion. In the recent work, a significant attention has been accorded to understand how globalisation has impacted on job security and thereby human security in many developing countries. The literature revolves around two opposing effects of globalisation on the human security in a country: firstly, the efficiency hypothesis posits that globalisation tends to reduce the size of the government of a country to enable the country to attain comparative advantage for gainfully trading in the global economy. A reduction in the capacity of the government is argued to lead to a decline in public employment and, hence, a decline in human security with rising globalisation. Secondly, the compensation hypothesis argues that the size of government, and hence public employment, will increase with globalisation mainly to suitably manage a domestic economy in a complex global setting with an increased role of government for creating social stability and social security. Depending on the relative strengths of the mutually opposing forces of globalisation on public employment, the impact of globalisation on the human security of a country is ambiguous. A gap in the existing literature is a lack of documentation of the Indian experience. In this work, the authors seek to empirically test if globalisation has increased, or decreased, job security in India.

Details

New Frontiers in Conflict Management and Peace Economics: With a Focus on Human Security
Type: Book
ISBN: 978-1-83982-426-5

Keywords

Book part
Publication date: 20 June 2008

Jack N. Behrman

The potential benefits of globalization – seen as progressive worldwide economic integration – have been touted by many economists, government officials and journalists, but the…

Abstract

The potential benefits of globalization – seen as progressive worldwide economic integration – have been touted by many economists, government officials and journalists, but the obstacles to its acceptance are seldom assessed against its putative advantages. Some opposing observers, protest groups and a few governments have warned about the inequities and burdens of globalization. However, few have focused on the multiple obstacles to, or on the necessary policies and attitudes for, successful moves to globalization. International Business researchers need to encompass the multiple aspects in the political, social and cultural realms that are affected by, and involved in, the process of globalization and require acceptable treatment. A fundamental reconciliation is required between socio-economic systems based on relationships and those based primarily on market signals in order to reduce conflicts and achieve the necessary community of interests.

Details

International Business Scholarship: AIB Fellows on the First 50 Years and Beyond
Type: Book
ISBN: 978-0-7623-1470-6

Book part
Publication date: 18 April 2022

Lukman Raimi and Hassan Yusuf

Corporate social responsibility (CSR) is not new in the industrial society, as every corporation has embedded the philosophy of doing good and doing well in its business ethics…

Abstract

Corporate social responsibility (CSR) is not new in the industrial society, as every corporation has embedded the philosophy of doing good and doing well in its business ethics for different motives. Literature established that CSR policies, theories and practices differ across countries, cultures and civilisations. The globalisation wave forced on global corporations a unified understanding of theories and practice of CSR from the perspective of developed countries of America and Britain. Britain's exit from the European Union and America's egocentric national policies launched by President Donald Trump are evidence of an increased leaning toward isolationism, and strong cases of anti-globalisation have been established by these nations. The purpose of this theoretical research is to investigate within the raging Globalisation and Anti-Globalisation debates, the key factors that motivate corporations from different contexts to initiate CSR programmes and the focus of programmes. This research adopts a qualitative research method, leveraging previous scholarly works, working papers, case studies and relevant internet resources. Insightful information from afore-mentioned sources were critically discussed from which useful findings were derived to support the subject of inquiry (factors that motivate CSR programmes and focus of programmes). It was found that similar factors motivate corporations with globalisation and isolation mindsets to embrace CSR programmes, but the focus of CSR programs of corporations differ, yet the programmes oscillate around economic, social and environmental dimensions of CSR. The gap left by the chapter is for future researchers to carry out an empirical investigation on the research.

Details

The Equal Pillars of Sustainability
Type: Book
ISBN: 978-1-80382-066-8

Keywords

Book part
Publication date: 14 March 2022

Michael A. Witt

The author argues that international business carries within itself the seeds of its own destruction. Globalization and attendant international business activities tend to trigger

Abstract

The author argues that international business carries within itself the seeds of its own destruction. Globalization and attendant international business activities tend to trigger countervailing political forces, resulting in de-globalization. Scholars have documented this pattern for the past, and it will likely repeat itself in the future. International business thus seems to constitute a self-limiting, oscillating system that triggers its own crises. The author reviews and applies theories accounting for the role of international business in (de-)globalization and discusses measures to prevent or at least dampen future oscillations.

Details

International Business in Times of Crisis: Tribute Volume to Geoffrey Jones
Type: Book
ISBN: 978-1-80262-164-8

Keywords

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