Economic

·    Economic growth rate is the economic metric most affected by globalization.
Globalization has seen the narrowing of the gap between the economic growth
rates of the developed and developing countries.

·   Globalization has also brought a change in the governance structure of the global financial
system with an increase in influence of private actors such as banks, hedge
funds, equity funds and rating agencies.

·  Revolution in information and communications technology and declining transportation costs
have resulted in multi country based production of goods and services which are
technically and economically feasible.

·    Globalization has seen the integration of economies by means of rapid advances in the ICT
(information, communication and entertainment) sectors. There has been a surge
in employment generation in emerging economies due to off shoring of services
such as software development, financial services and call centre accessible
from different countries around the globe. Technology has not only enabled
economic globalization but has also helped in increasing connectivity among
civil societies, governments and individuals.