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In this paper, we link the Maastricht Globalization Index with health indicators to analyse if more globalized countries are doing better in terms of infant mortality rate, under-five mortality rate, and adult mortality rate.
Two neighboring countries -- Singapore and Malaysia -- rank highest among developing countries in the magazine's third annual Globalization Index.
Also, comparing with other empirical studies, this paper has estimated the relationship between economic globalization as one dimension of the new KOF globalization index and inflation.
In contrast, the estimation results regarding a new economic globalization index (the KOF index) suggest that higher economic globalization will decrease inflation, as supported by the Romer (1993) hypothesis for both developed and developing countries during 1990 9 and 2000 9.
In this section, we briefly describe the Maastricht Globalization Index (MGI) [ 22].
In this paper we use an indicator-based approach [ 22] linking the Maastricht Globalization Index (MGI) (a measure of globalization) to important health indicators, correcting for possible confounding factors.
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Bangladesh ranked 8th out of 119 countries across the world for its trade barriers and globalization indices (Raihan 2004).
Several limitations in using the MGI (and in general globalizations indices) exist.
The MGI was developed by Martens and Zywiets [ 23] and Martens and Raza [ 24] to improve upon existing globalization-indices.
The controls in addition to country and time fixed effects comprise technology, globalization, an index of financial reform, the top marginal tax rate, and a banking crisis variable.
Thus, it seems that the new economic globalization measure (the KOF index), which is a broader comprehensive index, is a better proxy for openness.
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