GLOBALIZATION

AUTHOR : Vidhi Yadav  (MBA – FINANCE)

 

1. Globalization and employment nexus: Moderating role of human

capital

 

 Human capital acts as Modering factors in the relationship between globalization and employment. While globalization has increased the movement and interconnection of goods, technology, and information, it has also affected employment. Many studies have analyzed the impact of globalization on employment creation resulting in positive and negative findings. However, the investment in education and skills development is essential for individuals and nation to navigate the challenges and harness the opportunities presented by globalization an area of literature still needs to be explored studying how human capital affects the impact of globalization on employment creation. The current study contributes to the literature by analyzing the moderating role of human capital in the globalization-employment nexus in 26 Asian countries. For this, annual panel data were collected from 1996 to 2019. The static and dynamic analysis shows that globalization’s direct and indirect impact on employment through the channel of human capital is positive. Industrial value added and economic growth leads to more employment creation, whereas population growth dampens it. Human capital plays a positive role in getting the advantage of globalization in terms of employment creation. This study confirms the literature recommendations of promoting human capital development to achieve globalization’s benefits for more employment creation.

 

 

 

2.    Globalization matter in the relationship between renewable energy consumption and economic growth, evidence from Asian emerging economies

 

 

Globalization has been a driving behind the relationship between renewable energy and economic growth in Asian emerging economic. It has been encouraged investment, promoted energy security, created jobs and opened up export opportunities. In recent years, policy circles and academia have paid great attention to issues related to economic growth and renewable energy consumption. Numerous theoretical and empirical studies have been feverishly scrutinizing the interplay between economic growth and various aspects of energy consumption, including the mechanisms by which renewable energy consumption can sustain economic growth in the long run. For example, few studies show a weak relationship between economic growth and renewable energy consumption. Another stream of empirical research revealed a possible causal relationship between economic growth and renewable energy consumption, leading to the development of four hypotheses: neutral, feedback growth, and conservation hypotheses. Groundbreaking empirical research focuses on bivariate models to detect causal relationships between renewable energy consumption and economic growth. Recent empirical studies on the link between renewable energy consumption and economic growth employ multivariate and advanced econometric methods to explore the direction of the causal relationship between renewable energy consumption and economic growth. Thus, other variables such as infrastructure development, financial development, institutional quality, capital, energy prices, urbanization, industrialization, carbon emissions, and industrialization have been added to empirical models of the relationship. However, there is limited literature on the important role of social, political and economic in the link between renewable energy consumption and economic growth. This raises concerns about the impact of structural and energy efficiency policies in both advanced and developing economies, as the associated policy consequences are temporary.

 

 

 

3.    Dynamic Simulation Analysis of the Impact of Urbanization and Globalization on Environmental Quality.

 

 

Another issue that has been recently investigated for its connection to environmental issues is globalization. In the most general sense, globalization is the integration of countries around the world on economic, social, and political levels. Especially as a result of economic globalization, countries have started to shift their production to developing countries due to cheap labor and raw materials. Although this may seem to be an advantage in providing investment-saving equality for developing countries, it comes with environmental costs. Thus, globalization causes an increase in emissions with increased foreign trade and foreign investment. This issue is also associated with income level. According to Shahbaz et all. people with low incomes tend to compromise the environment to increase their consumption. However, as living standards increase, the importance given to the environment increases again. Therefore, it is not surprising that developing countries ignore the environmental costs of foreign investments to at least some degree. This new strategy is also considered a new stage in the urban development process. In the process of increasing liberalization and globalization after 1980, developments such as metropolitanization, internalization of cities, and the prominence of being a world city emerged in Turkey. At this point, the impact of globalization on the country’s policies and the related shaping of the urbanization process emphasize the critical importance of Turkey in terms of both dynamics and bring up the study of its impact on the environmental conditions in the country. This gap identified in the literature is trying to be filled. Thus, an up-to-date contribution is made to the EKC literature. The continuation of Turkey’s globalization and urbanization has increased the importance of this study. In addition, considering the rapid development processes of urbanization and globalization in Turkey at similar times, revealing the environmental effects of these two dynamics comparatively constitutes the main contribution of this study.

 

 

 

4.    Globalization and Migration: The Great Gender Equalizer?

 

The pro-globalists advocate that globalization promotes gender equality by generating employment opportunities in the export processing sector (Black & Brainerd, 2004), thus enabling women to escape the subordination of the traditional patriarchal system (Ullah, 2004). The relocation of firms and investors has resulted in increased professional mobility for women. Employers do not discriminate against women because of globalization (Black & Brainerd, 2004), as discrimination is costly in a fiercely competitive environment. When a country specializes in female-intensive services, gender inequality should be avoided because it reduces the country’s ability to compete on a global scale (World Bank, 2011). However, Saunders (2004) and Moghadam (1999) note that despite women being successful in gaining an increasing share of employment opportunities, a redistribution of domestic, household, and childcare responsibilities did not materialize. Moghadam (1999) iterates that feminist theorists such as Friedan (1998) and Smith (1977) have been particularly critical of the structural adjustments of markets and their objectives to support women’s labor because when compared to men, women’s labor is generally cheaper and more expendable. This supports the notion that multinational corporations appear to uphold patriarchal systems. Standing (1989) argues that when these corporations shift their production sites to low-wage economies, more jobs are generated, implying that this relocation may trigger migration. Globalization affects men and women differently. It harms women more than men because of the heightened risk of poverty for the former. Numerous research projects have established the fact that globalization has promoted gender inequality. Firstly, both men and women play different roles in the productive and reproductive sectors. Women’s lower labor market position, involvement in the care economy, and the reproductive tasks associated with their gender role are harmed by an unequal division of labor

 

 

5.    IMPACT OF GLOBALIZATION PROCESSES ON STRATEGIC PLANNING OF ENTERPRISES.

 

 Today, enterprises that form strategic plans for their own activities must take into account not only the peculiarities of the national market or political, institutional, social influences only of their country. Nowadays globalization processes significantly, and sometimes decisively, determine the activity of enterprises. The impact of globalization is so comprehensive and diverse that it is felt not only by the world economy, but also by enterprises of those countries that are poorly integrated into the global market.Globalization can be defined as a dynamic process of national mutual influence, due to the extraordinary deepening of transnational contacts in all spheres: economy, politics, society and culture. Globalization is also characterized by a significant level of uncertainty of influencing factors, which complicates the task of analysis, forecasting and building effective strategic plans for the enterprise on their base. Strategic planning is a logical sequence of several stages, including a set of integrated procedures, and failure to take into account uncertainty at the initial stages leads to an increasing risk of non-fulfillment of subsequent stages of the plan. The successful achievement of strategic planning goals will depend both on the proper understanding of the prospects and threats of globalization by the management and owners of enterprises, as well as on the proper assessment of the level of uncertainty of its factors and the formation of relevant predictive indicators for the strategic planning of enterprise.

 

6.    Connecting the World through Information and Culture

 

In an interconnected world defined by technological innovation, media globalization has emerged as a driving force that shapes the dissemination of information and cultural content on a global scale. This phenomenon is characterized by the erosion of traditional geographical boundaries and the rise of digital platforms, which enable content to traverse the globe instantaneously. Media globalization has redefined how news, entertainment, and cultural expressions are created, shared, and consumed, transcending linguistic and cultural barriers. This article explores the multifaceted dimensions of media globalization, shedding light on its impact on culture, society, and the media industry, while also addressing the challenges and opportunities it presents. By examining both the positive and negative aspects of media globalization, we gain insights into its role as a transformative force that shapes the way we perceive the world and interact with one another .In an era of rapid technological advancement and interconnectedness, media globalization has emerged as a powerful force shaping the way we consume, share, and perceive information. The world has witnessed an unprecedented transformation in the way news, entertainment, and cultural content are produced, distributed, and consumed, transcending geographical and cultural boundaries. Media globalization is more than just the spread of information; it’s a phenomenon that influences culture, politics, economics, and societal dynamics on a global scale. Media globalization can be understood as the process through which media content, technologies, and industries transcend national borders to create a worldwide flow of information and culture. Traditional forms of media, such as print, radio, and television, have evolved alongside the digital revolution, giving rise to an interconnected network that enables instant sharing and access to content. The emergence of the internet and social media platforms has accelerated this process, allowing individuals and organizations to engage in global conversations, share perspectives, and shape public discourse

 

7.    An empirical analysis of human trafficking in an era of globalization

 

 

Human trafficking is the scope of the phenomenon increasingly extends beyond the individual being exploited to broader political, social and economic influence. According to UNODC (2018), the human trafficking market, which generates more than 32 billion US dollars in annual turnover, is considered the third most lucrative form of trafficking in the world after drug trafficking and counterfeiting. The phenomenon encompasses several types of criminal networks, the most common of which are forced labor and begging, organ trafficking and prostitution. Sexual exploitation, which accounts for nearly 60% of the causes of trafficking, is the first form of violence suffered, and more than 70% of the victims are women. The literature on the economics of human trafficking is particularly interested in the causes of this practice, from individual to macroeconomic motivations. In this context, globalization is a relevant factor among the many determinants identified. Theoretically, the relationship between globalization and the human trafficking could pass through many channels and is mainly based on the consequences of globalization on human rights and the living conditions of citizens. On the one hand, globalization is the result of increased capital flows and trade that open up new opportunities for economic growth, particularly in developing countries (Arndt, 1999; Stiglitz, 2003). On the other hand, the change in adjustment that it induces is accompanied by social disintegration and an intensification of poverty (Williamson, 1997; Mills, 2009). In fact, this process, which creates new norms, affects different aspects of human life, and the law is no exception. Indeed, if we consider globalization as a factor that allows the world to be transformed into a global village, at that moment all the human rights of the different peoples are threatened. 

                                                        

 

8.     The Case of Food, Health and Environment in Five Socio-Ecosystems

 

The globalization of food is old processes like the exchange of seeds, plants and their cuttings, as well as the circulation of food products in general between human populations have occurred consistently with varying intensity. The novelty today lies in the massiveness of these exchanges and the nature of food that brought about a “monolithic global industrial food system” in the latter half of the 20th century. Globalized food products are cheaper and more available.They have the characteristic of being highly processed and manufactured, thus presenting fattier and sweeter attributes than so-called “traditional” food therefore generating nutritional disruptions with hefty health impacts.It is estimated that roughly 24% of total deaths worldwide in 2017 (i.e., 11 million premature deaths) were attributed to unhealthy diets linked with the development of several chronic non-communicable diseases over 2.8 million deaths annually are related to being obese or overweight alone . This does not include the number of people whose quality of life is greatly impacted by living with such diseases and their comorbidities, e.g., diabetes (463 million individuals in 2019, accounting for 9.3% of the global population ) obesity and overweight (671 million and 1.3 billion adults in 2016, respectively ), hypertension (1.278 billion adults in 2019) and cancer (19.3 million new cases in 2020 ). Notwithstanding numerous risk factors in the development of a diverse range of cancers, obesity and overweight have been found to contribute a population attributable fraction of over 30% for esophageal adenocarcinoma. Food systems consist of a complex web of activities that involve, among other things, the production, aggregation, processing, transport, consumption and disposal of food products . Major changes to the global food system have resulted from the massification of transport and communication networks that modify the face of the earth like the relations that human societies maintain between themselves and with their environment: they make globalization a geographical power

 

9.Human Capital Development in the Context of Globalization Processes: Regulatory Aspect

 

Human capital development components and their impact on the state’s competitive development. The study aims to determine Ukraine’s main human capital development directions in the conditions of post-war reconstruction. The study’s relevance is determined by the deterioration of human capital usage in Ukraine due to the war with Russia. Therefore, it requires effective changes in the human capital development policy by the state, enterprises, and individuals. The developed methodology determines the study’s novelty for analyzing the influencing factors on human capital. General scientific methods of cognition allowed us to identify the main elements of human capital impact. The correlation and regression analysis confirmed the hypothesis that human capital factors are population health, education, and information technology use. The analysis results show these indicators’ high levels of influence on the state development in the global environment. The results of the study show that human capital has an impact on economic growth. In Ukraine, the development of professional skills of the population and the use of information technology in production processes positively impact the economy. On the other hand, the population’s level of health negatively impacts economic development and requires health policy improvement. The discussion framework forms the development of human capital, considering the construction of public policy in this direction. The practical significance of the study lies in the possibility of its use in the process of developing a human capital development strategy at the state and enterprise levels. Human capital is an essential factor in enterprise profitability. Human capital contributes to increasing labor productivity and profitability, and competitiveness. Therefore, the more investments are made in the development of human capital, the more productive and profitable is human labor, human income, human needs as a consumer, and his role as an economic agent. Many studies (Link and Motivation Group; 2021) show that investing in the development of human capital by the enterprise allows for obtaining a reasonably high economic return. In particular, the Link and Motivation Group shows that investments in capital development have a good payback, and the ROI was about 34 % in 2021.  Therefore, to find the right idea of human capital development, it is necessary to rely on the current state of human capital and the problems of human capital use faced by society in a clearly defined space and time.

 

10.  State Policy of Cultural and Art Projects Funding as a Factor in the Stability of State Development in the Conditions of Globalization

 

The connection of culture with politics is also manifested in the fact that it becomes an important factor in economic development. In the era of mass culture, trade in cultural goods and services can become a significant source of replenishment of the state budget. In this regard, the undisputed leader today is the United States, where the production of Hollywood films not only provides multimillion dollar income to the US treasury, but also solves practical political problems. Most Hollywood works popularize the American way of life and social ideals, called the “American Dream”, which postulates the possibility, in a market economy and democracy, with hard work and the presence of certain knowledge, to fulfill oneself and achieve high financial well-being, and at the same time gain a certain level of personal freedom and respect for own rights. As noted by a number of researchers, the “American Dream” is the main motive for migrants from nearby Latin American countries, as well as other parts of the planet, to move to the United States in order to improve their living conditions and achieve the notorious American freedom (Enaifoghe and Makhutla, 2020). Thus, through the resources of culture, it is possible to disseminate not only cultural values, but also political and economic norms At the same time, the culture of society as a whole is a kind of “fabric” of the traditions of social life, beliefs, values, as well as behavioral attitudes and the symbols that express them and regulate all social relations. This funding supports the preservation of cultural and innovation, and foster a sense of national identity.  Funding policy is also can contribute to a stable and resilient state in the era of globalization.

 

 

CONCLUSION;-   In Conclusion, this research globalization us a multifaceted and complex phenomenon that has both positive and negative effects on the world. It has facilitated the exchange of goods, ideas, and cultures across borders, leading to increased economic and cultural diversity. However, it has also been associated with challenges such as income inequality, environmental degradation , and the local cultures. The impact of globalization varies across regions and a sectors, and the important for policymakers to strike a balance that maximizes its benefits while addressing its drawbacks. Globalization is likely to continue shaping our world, and the key to its success lies in responsible and inclusive approaches that consider both global and local interests.

 

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