DHL Global Connectedness Index 2014

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30 2. How Globalized are Individual Countries and Regions On the depth dimension, as shown in Figure 2.2, the top ranks are held by Hong Kong SAR (China), 3 Singapore, Luxembourg, Belgium, Ireland, the Netherlands, Estonia, Hungary, Austria, and the United Arab Emirates. The lowest ranked countries on the depth dimension are Islamic Republic of Iran, Ethiopia, Pakistan, Bangladesh, Syrian Arab Republic, Burundi, Myanmar, Central African Republic, Venezuela, and Nepal. Casual observation of Figure 2.2 suggests that economies with higher depth scores tend to be both wealthy and relatively small, as exemplified by the top 3: Hong Kong SAR (China), Singapore, and Luxembourg. Naturally, advanced economies with relatively small internal markets will have a larger share of their trade, investment, communications, and even people, outside of their own borders. Such patterns are indeed found to be statistically significant, with higher depth scores positively associated with countries’ GDP per capita but negatively associated with their populations. Depth is also positively associated with linguistic commonality and negatively impacted by remoteness and landlockedness. Figure 2.3 ranks countries according to their breadth scores. The top 10 countries on the breadth dimension of global connectedness are the United Kingdom, the United States, the Netherlands, France, Switzerland, the Republic of Korea, Japan, Germany, Israel, and Ireland. The lowest ranked countries on breadth are Botswana, Syrian Arab Republic, Kyrgyz Republic, Tajikistan, Central African Republic, Namibia, Zambia, Bosnia and Herzegovina, Uzbekistan, and Albania. The countries with the highest breadth scores are both large and wealthy. The top 8 countries on breadth are all among the world’s 20 largest economies based on GDP in US dollars at market exchange rates. Israel and Ireland are relatively smaller but still rank among the world’s 50 largest economies. Thus, while the same country characteristics used to describe depth scores are also significant factors for explaining breadth, the main contrast is that breadth is positively—rather than negatively—associated with countries’ having larger populations. The pattern of larger economies exhibiting higher breadth scores and lower depth scores holds up even in the extreme cases of the largest emerging markets, which helps explain why those countries are so globally significant even though their economic activity is disproportionately domestic. Each of the BRIC countries (Brazil, Russia, India, and China), have higher breadth than depth scores, with an average difference of 24 points (and an even higher difference of 28 points when Russia is excluded). The magnitude of these differences is considerable, especially when one recalls that both depth and breadth are scaled from 0 to 50, so the maximum possible difference is 50 points, and the largest observed difference is 34 points. Consider the example of China, which ranks 127th (out of 140 countries) on depth and 28th on breadth. As the world’s second largest economy and as a country ranked in the upper quartile on breadth (and with stronger outward than inward connectedness), China’s global impact is very large. But China’s depth rank provides a useful reminder that even in China, the overwhelming majority of flows are domestic, as they are in all other large economies. China ranks 81st in terms of the depth of its merchandise exports, a rank that is high only in comparison to other very large economies: the United States, Japan, and India rank 133rd, 119th, and 111th, respectively, on this metric. Of course, China’s rank in terms of the depth of its merchandise imports, 118 th , is much lower. Segmenting the DHL Global Connectedness Index scores based on the directions of the flows that are measured yields further insight into the patterns of global connectedness. 4 Among 131 countries with sufficient data to conduct directional analysis, 61 countries are more connected
DHL Global Connectedness Index 2014 31 Figure 2.4 The 2014 DHL Global Connectedness Index, Differences in Directionality 1. Cambodia 2. Sri Lanka 3. Iran, Islamic Republic 4. Taiwan (China) 5. Pakistan 6. Finland 7. Switzerland 8. Vietnam 9. China 10. Azerbaijan 11. Kazakhstan 12. Lithuania 13. Thailand 14. Germany 15. Sweden 16. Bangladesh 17. Angola 18. India 19. Denmark 20. Korea, Republic 21. Indonesia 22. Papua New Guinea 23. Honduras 24. Syrian Arab Republic 25. Bulgaria 26. Lao PDR 27. Austria 28. Gabon 29. Latvia 30. Venezuela, RB 31. Zimbabwe 32. Italy 33. Israel 34. Saudi Arabia 35. Argentina 36. Qatar 37. Hong Kong SAR (China) 38. Kuwait 39. Japan 40. Trinidad and Tobago 41. Costa Rica 42. Philippines 43. Cameroon 44. Portugal 45. Ireland 46. Canada 47. Burkina Faso 48. Peru 49. Belarus 50. Croatia 51. Romania 52. Russian Federation 53. Estonia 54. France 55. Poland 56. Burundi 57. Macedonia, FYR 58. Belgium 59. United States 60. Bosnia & Herzegovina 61. Malaysia Disproportinately Outward (Outward Minus Inward) Disproportinately Inward (Inward Minus Outward) 1. Jordan 2. Lebanon 3. Mongolia 4. United Arab Emirates 5. Kyrgyz Republic 6. Niger 7. Georgia 8. Armenia 9. Senegal 10. Mozambique 11. Nicaragua 12. Ukraine 13. Bolivia 14. Brazil 15. Australia 16. Turkey 17. El Salvador 18. Singapore 19. Rwanda 20. Mauritius 21. Netherlands 22. Barbados 23. Uganda 24. Bahamas, The 25. Mexico 26. Hungary 27. Guatemala 28. Paraguay 29. Mali 30. Oman 31. Tunisia 32. Yemen, Republic 33. Benin 34. Zambia 35. Guyana 36. Jamaica 37. Greece 38. Cyprus 39. Moldova 40. Egypt, Arab Republic 41. Iceland 42. Dominican Republic 43. Albania 44. Congo, Republic 45. Brunei Darussalam 46. Botswana 47. Central African Republic 48. Fiji 49. Ghana 50. South Africa 51. Chile 52. United Kingdom 53. New Zealand 54. Slovenia 55. Spain 56. Czech Republic 57. Colombia 58. Nigeria 59. Namibia 60. Kenya 61. Norway 62. Malta 63. Cote d’Ivoire 64. Slovak Republic 65. Serbia 66. Ecuador 67. Luxembourg 68. Panama 69. Madagascar 70. Uruguay 0 5 10 15 20 25 30 35 40 0 5 10 15 20 25 30 35 40
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286 Appendix B - Data Sources, Regr
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288 Appendix B - Data Sources, Regr
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Praise for the DHL Global Connected
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DHL Global Connectedness Index 2014

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