Deglobalization and Factors of Sustainable Development

Abstract

The KOF Globalization Index reflects the level of economic, social and political globalization and covers over 200 countries. Since 2015, this index has fallen for the first time, after stagnating between 2009-2015. This decline is mainly attributed to trade and financial flows caused by the deterioration of the general policy framework. Equally, the social component has the same downward trend. In view of these considerations, many voices call into question the process of deglobalisation or diminishing integration between the nations of the world. Equally, the Sustainable Development Goals aim at global collaboration in the three dimensions-economic, social and environmental-taking into account different national levels of development and in line with national priorities and policies. In the present study, we aimed to address the factors of sustainable development from the perspective of the deglobalization process and to identify to what extent the objectives of sustainable development will be affected, in the medium and long term, given that two of the pillars on which the sustainable development is based are directly affected.

Introduction: Theorizing the psychology of deglobalization

“…A more accurate trend may be captured by the KOF Swiss Economic Institute's Globalisation Index, which measures the economic, social, and political dimensions of globalization across 122 countries (Gygli et al, 2019). After continuous growth since 1970, the Globalisation Index stagnated between 2009 and 2015, and fell for the first time in 2015 (Munteanu et al, 2020). This new trend concerned policy makers, the business sector, as well as scholars.…”