The Conceptual Meaning of Globalization

Globalization is viewed as a step toward a fully integrated world market [1,2] and as a key ingredient of a global society [3]. Globalization is also seen by some academics as a "borderless world" [4]. Brown [5] expounds on globalization as large-scale openness of borders accomplished by loosening state regulations to promote rapid financial transactions, trade, communications, and other social and cultural activities. More precisely, globalization is a phenomenon that encourages international integration through free trade and communication across borders [6,7].

Matteis [8] defines globalization as the process of progressive growth of economic activities which transcends any kind of geographical border. According to this definition, globalization can be seen as the increasing movement of goods and services as well as human resources through trade and investments among nations. Trade liberalization policy and international trade are perceived as important ingredients of globalization.

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