Asymmetric convergence in globalization? : findings from a disaggregated analysis

Using the KOF index of globalization that allows for the multidimensionality of the process, the paper sets out to examine the presence of convergence among countries in the three dimensions of the globalization process: economic, social, political. The sample used in the empirical investigation consists of 111 countries and covers the period 1971–2011. To allow for differences in the speed of convergence, countries were clustered into four income groups: high, upper middle, lower middle and low income in line with theWorld Bank’s classification. The results yielded and reported herein point to an asymmetric process of convergence with different speeds both between groups aswell as in the different dimensions of globalization.