We introduce the revised version of the KOF Globalisation Index, a composite index measuring globalization for every country in the world along the economic, social and political dimension. The original index was introduced by Dreher (Applied Economics, 38(10):1091-1110, 2006) and updated in Dreher et al. (2008). This second revision of the index distinguishes between de facto and de jure measures along the different dimensions of globalization. We also disentangle trade and financial globalization within the economic dimension of globalization and use time-varying weighting of the variables. The new index is based on 43 instead of 23 variables in the previous version. Following Dreher (Applied Economics, 38(10):1091-1110, 2006), we use the new index to examine the effect of globalization on economic growth. The results suggest that de facto and de jure globalization influence economic growth differently. Future research should use the new KOF Globalisation Index to reexamine other important consequences of globalization and why globalization was proceeding rapidly in some countries, such as South Korea, but less so in others. The KOF Globalisation Index can be downloaded from http://www.kof.ethz.ch/globalisation/.

Introduction Globalisation is an omnipresent topic in today's world. To examine causes and consequences of globalisation, scholars have relied on single indicators, such as trade and foreign direct investment, as measures for globalisation for a long time. This approach, however, falls short of the multifaceted concept of globalisation that encompasses much more than openness to trade and capital flows. Globalisation is also represented, for example, in citizens of different countries exchanging ideas and information, or governments working together to tackle political problems of global reach. In the 2000s several composite indicators, combining different variables that represent different aspects of globalisation, have been proposed. The KOF Globalisation Index (KOFGI) emerged as the most widely used and cited globalisation index. The KOFGI is a composite index that measures globalisation along the economic, social and political dimension for almost every country in the world on a scale of 1 (least) to 100 (most globalised). Today, the index spans from 1970 to 2016. Each year the data is updated and an additional year added. The original index was introduced by Dreher (2006) and updated by Dreher et al. (2008). Recently, the index was completely overhauled and additional features and new variables included. Gygli et al. (2019) document the revised index and present an application. The revised KOFGI distinguishes between de facto and de jure measures for each of the different measures of globalisation. While de facto globalisation measures actual international flows and activities (such as trade in goods and services), de jure globalisation measures policies and conditions (such as tariffs) that, in principle, affect flows and activities. Within the economic dimension of globalisation, the revised KOFGI now distinguishes between trade and financial globalisation. Furthermore, it introduces time-varying weighting of the

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