Assessment of globalisation: a revisit. (20th May 2008) - Jain, Subhash C.
A comprehensive conceptual definition of globalisation is offered: 'the process by which the world's economy is transformed from a set of national and regional markets into one that operates without regard to national boundaries whatsoever'. A model of globalisation is discussed. Using 1997 UNCTAD data and a criterion of a firm attaining 50% on any two of three variables (foreign/total sales; foreign/total assets and foreign/total employment) to qualify as a 'global' corporation, it is found that half of the world's largest MNCs are 'global'. The 2006 UNCTAD data shows that 61 of the top non-financial transnational corporations qualify as 'global'. Empirically, it is seen that globalisation is increasing.