Showing papers on "Globalization published in 2015"

A Global Perspective: Reframing the History of Health, Medicine, and Disease.

Abstract: The emergence of global history has been one of the more notable features of academic history over the past three decades. Although historians of disease were among the pioneers of one of its earlier incarnations—world history—the recent “global turn” has made relatively little impact on histories of health, disease, and medicine. Most continue to be framed by familiar entities such as the colony or nation-state or are confined to particular medical “traditions.” This article aims to show what can be gained from taking a broader perspective. Its purpose is not to replace other ways of seeing or to write a new “grand narrative” but to show how transnational and transimperial approaches are vital to understanding some of the key issues with which historians of health, disease, and medicine are concerned. Moving on from an analysis of earlier periods of integration, the article offers some reflections on our own era of globalization and on the emerging field of global health.

Causes and Consequences of Income Inequality : A Global Perspective

Abstract: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.

Exploring country-level institutional arrangements on the rate and type of entrepreneurial activity

Abstract: This book presents some of ZoltAin J. A cs’ most important contributions since the turn of the the new millennium, with a particular intellectual focus on the knowledge spillover theory of entrepreneurship. This approach was shaped by three major events: the rapid globalization that occurred in the first decade of the 21st century; research on the role institutions have played in economic development during the past few decades; and the spread of entrepreneurial activity around the world following the collapse of communism at the end of the 20th century. This entrepreneurial activity has given rise to many questions of theory, measurement and policy.

Human development report 2015: work for human development

Abstract: Work, not just jobs or employment, is crucial for human progress: of the world's 7.3 billion people, 3.2 billion are in jobs, and many others engage in unpaid care, creative and voluntary work as well as other activities or prepare themselves as future workers. [This report] examines the links, both positive and negative, between work and human development in a rapidly changing world of work. Fast globalization, technological revolution, demographic transitions and many other factors are creating new opportunities, but also posing risks. The report examines how the benefits of this new world of work are not equally distributed, generating winners and losers. The report argues for a broader notion of work, one that goes beyond the jobs framework, to confront both persistent challenges such as human deprivations, inequalities, unsustainability, and gender imbalances in paid and unpaid work - as well as emerging ones - erosion of jobs, skills gaps, climate change and others. It concludes with a series of policy recommendations on how to enhance human progress through promotion of workers' rights and broader access to social protection.

Architecture of Markets

Abstract: Markets are socially constructed arenas where repeated exchanges occur between buyers and sellers under a set of formal and informal rules governing relations among competitors, suppliers, and customers. These arenas operate according to local understandings and rules that guide interaction, facilitate trade, define what products are produced, indeed constitute the products themselves, and provide stability for buyers, sellers, and producers. Marketplaces are also dependent on governments, laws, and cultural understandings supporting market activity. Our essay provides a brief exposition of this perspective. Then, it considers cutting-edge work on three topics: (i) the formation of markets and prices, (ii) the organization of capitalism in different societies, and (iii) financialization and globalization. We suggest that in the future, path breaking research will: (i) explore the sociology of consumption, (ii) combine insights from the sociology of markets and from studies of the role of economic thought in constructing markets, and (iii) investigate national and transnational regulations. Keywords: political economy; institute ons; networks; performativity; market formation; price formation; comparative capitalisms; financialization; globalization

Supply-chain Trade: A Portrait of Global Patterns and Several Testable Hypotheses

Abstract: The trade associated with international production networks – supply-chain trade for short – is associated with some of the most momentous global economic changes in the last 100 years. It has transformative implications for the world economy. This paper presents a portrait of the global pattern of supply-chain trade and how it has evolved since 1995.

Trade and Investment under Policy Uncertainty: Theory and Firm Evidence

Abstract: In a dynamic model with sunk export costs, a firm’s export investment is lower under trade policy uncertainty, and credible preferential trade agreements (PTAs) increase trade even if current tariffs are low. Exploring Portugal’s accession to the European Community as a policy uncertainty shock we find that the trade reform accounted for a large fraction of Portuguese exporting firms’ entry and sales; the accession removed uncertainty about future EC trade policies; and this uncertainty channel accounted for a large fraction of the predicted growth. Our approach can be applied to other PTAs and sources of policy uncertainty. (JEL D22, F12, F14, F15, G31, L11) irms face considerable uncertainty about future conditions, which can arise from purely economic shocks—e.g., to productivity or tastes—or from policy shocks—e.g., monetary or fiscal reforms. The role of future conditions is particularly important when firms must decide on costly irreversible investments. We examine the impact of policy uncertainty on a firm’s decision to invest and export to new markets, which is an interesting setting for several reasons. First, global integration has considerably increased firms’ exposure to foreign policy uncertainty. Second, while most trade analysis assumes policy is deterministic, we argue that it can be quite uncertain. Trade policy shocks are not frequent but when they happen they can be large and persistent, as witnessed in the 1930’s trade war.

Power politics and international trade

Abstract: Recent literature attributes the relative scarcity of open international markets to the prisoner's dilemma structure of state preferences with respect to trade. We argue that the prisoner's dilemma representation does not reflect the most critical aspect of free trade agreements in an anarchic international system, namely, their security externalities. We consider these external effects explicitly. Doing so leads us to two conclusions: (1) free trade is more likely within, rather than across, political-military alliances; and (2) alliances are more likely to evolve into free-trade coalitions if they are embedded in bipolar systems than in multipolar systems. Using data drawn from an SO-year period beginning in 1905, we test these hypotheses. The results of the analysis make it clear that alliances do have a direct, statistically significant, and large impact on bilateral trade flows and that this relationship is stronger in bipolar, rather than in multipolar, systems…

Mapping the frontiers and front lines of global environmental justice: the EJAtlas

Abstract: This article highlights the need for collaborative research on ecological conflicts within a global perspective. As the social metabolism of our industrial economy increases, intensifying extractive activities and the production of waste, the related social and environmental impacts generate conflicts and resistance across the world. This expansion of global capitalism leads to greater disconnection between the diverse geographies of injustice along commodity chains. Yet, at the same time, through the globalization of governance processes and Environmental Justice (EJ) movements, local political ecologies are becoming increasingly transnational and interconnected. We first make the case for the need for new approaches to understanding such interlinked conflicts through collaborative and engaged research between academia and civil society. We then present a large-scale research project aimed at understanding the determinants of resource extraction and waste disposal conflicts globally through a collaborative mapping initiative: The EJAtlas, the Global Atlas of Environmental Justice. This article introduces the EJAtlas mapping process and its methodology, describes the process of co-design and development of the atlas, and assesses the initial outcomes and contribution of the tool for activism, advocacy and scientific knowledge. We explain how the atlas can enrich EJ studies by going beyond the isolated case study approach to offer a wider systematic evidence-based enquiry into the politics, power relations and socio-metabolic processes surrounding environmental justice struggles locally and globally. Key words: environmental justice, maps, ecological distribution conflicts, activist knowledge, political ecology

The Globalization of Inequality

Abstract: This book examines the trends that causes inequality within and among nations and describes the policies that should be implemented to help this inequality from heavily occurring. This book is broken down into five chapters; these including Global Inequality, Countries becoming More Unequal? Forces behind Inequality, Prospects and Principles, and Policies for a Fairer Globalization. Defining global inequality as “the level of inequality between all inhabitants of the world” (9), he separates global inequality into two areas; inequality between and within nations, considering the latter being the worst of the two. This analytical review will first describe the major topics discussed and then my review on his book.

Knowledge Management as an important tool in Organisational Management: A Review of Literature

Abstract: Introduction If information is the currency of the knowledge economy, human expertise is the bank where it is kept, invested and exchanged--the researcher. "A firm's competitive advantage depends more than anything on its knowledge: on what it knows--how it uses what it knows--and how fast it can know something new."--HR Magazine 2009, p.1. It is no longer a controversy that we live in a globalised world characterised by fast information transfer across large geographic areas by means of the Internet. The consequence of this globalization is the emergence of knowledge-based economies where importance is placed on effective management of human capital to ensure that workers continue to create the right value for the economy. Nowadays, organisations no longer compete solely on the basis of financial capital and strength, rather knowledge is the new competitive advantage in business. In fact the Gross Domestic Product (GDP) growth rate is now determined, amongst other factors, by the quantum and quality of knowledge stock harnessed and applied in the production process in sectors of the economy. This knowledge based economies require that Knowledge Management (KM) good practices be put in place to improve organisation effectiveness. There is a popular saying that knowledge is power. Based on this assertion, it can be said that the management of knowledge is the key to power. KM as a discipline has been a focal point of discussion over the past decades. In recent years, the importance of KM has been widely recognized as the foundations of industrialized economies shifted from natural resources to intellectual assets. Since 1995 there has been an explosion in the literature surrounding the developing concept of KM. Today, there is hardly a conference or published journal without seeing literature referring to the concept, KM. The importance of KM as a critical tool in organisation and the society can therefore not be overemphasised. As Desouza (2011) put it, KM has become a trendy buzzword. Much of the interest in KM came from the realization that organisations compete on their knowledge-based assets. Even noncompetitive organisations (e.g. governmental institutions and nonprofits organisations) succeed or fail based on their ability to leverage their knowledge-based assets. It is stated by Teng and Song (2011) that the importance of KM is no longer restricted to knowledge intensive firms in the high-tech industries but to all sectors of the economy. Zack (2003) further says that even companies in the traditional industries, such as cement, can benefit greatly from KM. In essence KM is beneficial to all sectors, be it educational, banking, telecommunications, production/manufacturing, and even the public sectors. The management of knowledge has generated considerable interest in business and management circles due to its capability to deliver to organisations, strategic results relating to profitability, competitiveness and capacity enhancement (Chua, 2009; Jeon, Kim and Koh 2011). The management of knowledge is promoted as an important and necessary factor for organisational survival and maintenance of competitive strength. KM is identified as a framework for designing an organisation's strategy, structures, and processes so that the organisation can use what it knows to learn and to create economic and social value for its customers and community. Organisations need a good capacity to retain, develop, organise, and utilise their employees' capabilities in order to remain at the forefront and have an edge over competitors. Knowledge and the management of knowledge is regarded as an important features for organisational survival; while the key to understanding the successes and failures of KM within organisations is the identification of resources that allow organisations to recognize, create, transform and distribute knowledge. Organisations that effectively manage and transfer their knowledge are more innovative and perform better (Riege, 2007). …

The Cross-Border Connection: Immigrants, Emigrants, and Their Homelands

Abstract: International migration presents the human face of globalization, with consequences that make headlines throughout the world. The Cross-Border Connection "addresses a paradox at the core of this phenomenon: emigrants departing one society become immigrants in another, tying those two societies together in a variety of ways. In nontechnical language, Roger Waldinger explains how interconnections between place of origin and destination are built and maintained and why they eventually fall apart.Newcomers moving away from the developing world find that migration is a good thing, letting them enjoy the benefits of residence in the developed world, some of which they send on to their relatives at home in the form of remittances. Residing in a democratic state, free from the long arm of their place of origin, emigrants mobilize to produce change in the homelands they left. Emigration states, in turn, extend their influence across boundaries to protect nationals and retain their loyalty abroad. Time, however, proves corrosive, and in the end most immigrants and their descendants become progressively disconnected from their home country, reorienting their concerns and commitments to the place where they actually live.Although widely studied, cross-border connections remain misunderstood, both by scholars convinced that globalization is leading to a deterritorialized world of unbounded loyalties and flows, and by policy makers trying to turn migration into an engine of development. Not since Oscar Handlin s classic "The Uprooted" has there been such a precisely argued, nuanced study of the immigrant experience."

Educating for Futures in Marginalized Regions: A sociological framework for rethinking and researching aspirations

Abstract: ‘Raising aspirations’ for education among young people in low socioeconomic regions has become a widespread policy prescription for increasing human capital investment and economic competitiveness in so-called ‘knowledge economies’. However, policy tends not to address difficult social, cultural, economic and political conditions for aspiring, based in structural changes associated with globalization. Drawing conceptually on the works of Pierre Bourdieu, Raymond Williams, Arjun Appadurai and authors in the Funds of Knowledge tradition, this article theorizes two logics for aspiring that are recognizable in research with young people and families: a doxic logic, grounded in populist–ideological mediations; and a habituated logic, grounded in biographic–historical legacies and embodied as habitus. A less tangible third ‘logic’ is also theorized: emergent senses of future potential, grounded in lived cultures, which hold possibility for imagining and pursuing alternative futures. The article offers a...

What Is a World?: On Postcolonial Literature as World Literature

Abstract: In What Is a World? Pheng Cheah, a leading theorist of cosmopolitanism, offers the first critical consideration of world literature’s cosmopolitan vocation. Addressing the failure of recent theories of world literature to inquire about the meaning of world , Cheah articulates a normative theory of literature’s world-making power by creatively synthesizing four philosophical accounts of the world as a temporal process: idealism, Marxist materialism, phenomenology, and deconstruction. Literature opens worlds, he provocatively suggests, because it is a force of receptivity. Cheah compellingly argues for postcolonial literature’s exemplarity as world literature through readings of narrative fiction by Michelle Cliff, Amitav Ghosh, Nuruddin Farah, Ninotchka Rosca, and Timothy Mo that show how these texts open up new possibilities for remaking the world by negotiating with the inhuman force that gives time and deploying alternative temporalities to resist capitalist globalization.

Alliances, Preferential Trading Arrangements, and lnternational Trade

Abstract: We analyze the effects of alliances and preferential trading arrangements on bilateral trade flows. Both factors are likely to promote trade among members, but we argue that the interaction between them is central to explaining patterns of commerce. The combination of an alliance, which creates political incentives for participants to engage in trade, and a commercial institution, which liberalizes trade among members, is expected to provide a considerable impetus to commerce among parties to both. The results of our quantitative analyses support these arguments. Both alliances and preferential trading arrangements strongly affected trade from 1960 to 1990, and allies that included a major power conducted considerably more trade than their nonmajor-power counterparts. Moreover, the interaction between alliances and preferential trading arrangements is fundamental to explaining patterns of bilateral commerce: Parties to a common preferential trading arrangement and a common alliance engage in markedly greater trade than do members of either type of institution but not both…

The determinants of new-firm survival across regional economies: The role of human capital stock and knowledge spillover

Abstract: This book presents some of ZoltAin J. A cs’ most important contributions since the turn of the the new millennium, with a particular intellectual focus on the knowledge spillover theory of entrepreneurship. This approach was shaped by three major events: the rapid globalization that occurred in the first decade of the 21st century; research on the role institutions have played in economic development during the past few decades; and the spread of entrepreneurial activity around the world following the collapse of communism at the end of the 20th century. This entrepreneurial activity has given rise to many questions of theory, measurement and policy.

An anatomy of state control in the globalization of state-owned enterprises

Abstract: Integrating agency theory with institutional analysis in international business, we propose a state-control perspective to analyze government-control mechanisms in emerging economies’ globalization of state-owned enterprises (SOEs). We identify two types of state control that influence SOEs’ globalization decisions and the degree of globalization (DOG): state ownership control and executives’ political connections, both of which are contingent upon the home country’s evolving institutional environments. Using a two-step corporate globalization decision model and 17,272 firm – year observations of non-financial, Chinese-listed companies, we find a strong impact of both types of state control on SOEs’ globalization, although the impacts differ between the periods before and after domestic governance reform and across different globalization decision steps. The diminishing impact of executives’ political connections and the increasing impact of state ownership control on firms’ DOG demonstrate the evolving relationship between the state and the managers, as well as the dynamics of state control in globalizing SOEs.

Rethinking Agricultural Trade Relationships in an Era of Globalization

Abstract: Agricultural trade plays an important role in global food security and resource sustainability. Global food commodities trade is worth more than US$520 billion per year, could feed approximately two billion people, uses about 13% of worldwide cropland and pasture, and has geographically concentrated irrigation water demands. However, researchers rarely compare these monetary, nutritional, and resource metrics, which limits our ability to holistically evaluate the drivers and implications of trade. We found that each metric suggests distinct conclusions about the geography of globalized agriculture. For example, traded animal products have a disproportionate influence according to value-based and embodied pasture metrics. Traded wheat, soybean, and maize contain the most calories, use the most cropland, and strongly influence irrigation water consumption. We typify engagement in trade by assessing how countries allocate cropland to domestic versus foreign demand. Simultaneous consideration of multiple metrics could enhance decisionmaking surrounding trade by capturing the complex biophysical and economic context of agricultural globalization.

Childhood and the policy makers : A comparative perspective on the globalization of childhood

Abstract: This chapter explores the historical origins of the ideal of childhood, to trace its global export and examines its impact, especially on the children of the poor. The prime aim of the treaty was to protect and nurture childhood rather than to encourage equality for children with adults, in that while it purported to work in the best interests of the child, these interests were identified entirely by adults. Also, child welfare was identified with that of the family and no allowance was made for the possibility of conflict within the family. The discontinuity between the protective ideologies of child welfare embodied in both international rights legislation and national policy and the socio-economic and cultural realities of countless children in the South is marked. In this respect, the move to set global standards for childhood and common policies for child welfare may be far from the enlightened step anticipated by its proponents.

Higher Education and the WTO: Globalization Run Amok

Abstract: Higher education is increasingly seen as a commercial product to be bought and sold like any other commodity. Higher education commercialization has now reached the global marketplace. The World Trade Organization (WTO) is considering a series of proposals to include higher education as one of its concerns, ensuring that the import and export of higher education be subject to the complex rules and legal arrangements of the WTO protocols and free of most restrictions. In the United States, the National Committee for International Trade in Education and a group of mainly for-profit education providers are supporting this initiative. The established higher education community, including the American Council on Education, is not involved in this undertaking. The WTO initiative poses a severe threat to the traditional ideals of the university, as well as to the national and even institutional control of education, and therefore needs careful scrutiny. We are in the midst of a true revolution in higher education, a revolution that has the potential to profoundly change our basic understanding of the role of the university. The implications are immense and as yet little discussed or understood. It is especially alarming, but not surprising, that the U.S. Department of Commerce’s Office of Service Industries is behind the effort to commercialize higher education in the United States and worldwide. I am not arguing against globalization either as a reality or as a concept. Higher education institutions everywhere are subject to global trends—massification and all of its implications, the impact of the new communications technologies, accountability of academic institutions to government, an increasingly international and mobile academic profession, global research networks, and other phenomena. Many of these developments link academic institutions and systems globally. The use of English as the lingua franca for scientific communication and for teaching, especially when combined with the Internet, makes communication easier and quicker. The advent of multinational higher education institutions makes it possible to disseminate new curricular and other innovations quickly and to meet the immediate needs of students and the national economies of countries that lack adequate providers of higher education. For centuries, universities were seen as institutions that provided education in the learned professions (law, medicine, and theology) and scientific disciplines. Universities, as independent and sometimes critical institutions, preserved and interpreted, and sometimes expanded, the history and culture of society. In the 19th century, research was added to the responsibilities of the universities, followed a little later by service to society. Academic institutions were, in the main, sponsored by the state or the church. Even privately sponsored institutions were defined by the service mission. Higher education was seen as a “public good,” as something that provided a valuable contribution to society and was therefore worthy of support. Universities were places for learning, research, and service to society through the application of knowledge. Academe was afforded a significant degree of insulation from the pressures of society—academic freedom— precisely because it was serving the broader good of society. Professors were often given permanent appointments— tenure—to guarantee them academic freedom in the classroom and laboratory to teach and do research without fear of sanctions from society.

The Water-Energy-Food Nexus: Enhancing Adaptive Capacity to Complex Global Challenges

Abstract: Multiple intersecting factors place pressure on planetary systems on which society and ecosystems depend. Climate change and variability, resource use patterns, globalization viewed in terms of economic enterprise and environmental change, poverty and inequitable access to social services, as well as the international development enterprise itself, have led to a rethinking of development that solely addresses economic growth. Fulfilling the essential human aspirations for quality of life, meaningful education, productive and rewarding work, harmonious relations, and sustainable natural resource use requires ingenuity, foresight and adaptability.

Towards a ‘critical cultural political economy’ account of the globalising of education

Abstract: This paper outlines the basis of an alternative theoretical approach to the study of the globalisation of ‘education’ – a Critical, Cultural Political Economy of Education (CCPEE) approach. Our purpose here is to bring this body of concepts – critical, cultural, political, economy – into our interrogation of globalising projects and processes within what we will refer to as the ‘education ensemble’ as the topic of enquiry, whose authoritative, allocative, ideational and feeling structures, properties and practices, emerge from and play into global economic, political and cultural processes In the first half of the paper we introduce and develop the concepts that will underpin our approach. In the second half of the paper we explore the explanatory potential and epistemic gain of a CCPEE approach by examining the different manifestations of the relationship between globalisation as a political, cultural and economic project and an education ensemble. We conclude by reflecting on the possibilities this pers...

Structure and evolution of the global seafood trade network

Abstract: The food production system is increasingly global and seafood is among the most highly traded commodities. Global trade can improve food security by providing access to a greater variety of foods, increasing wealth, buffering against local supply shocks, and benefit the environment by increasing overall use efficiency for some resources. However, global trade can also expose countries to external supply shocks and degrade the environment by increasing resource demand and loosening feedbacks between consumers and the impacts of food production. As a result, changes in global food trade can have important implications for both food security and the environmental impacts of production. Measurements of globalization and the environmental impacts of food production require data on both total trade and the origin and destination of traded goods (the network structure). While the global trade network of agricultural and livestock products has previously been studied, seafood products have been excluded. This study describes the structure and evolution of the global seafood trade network, including metrics quantifying the globalization of seafood, shifts in bilateral trade flows, changes in centrality and comparisons of seafood to agricultural and industrial trade networks. From 1994 to 2012 the number of countries trading in the network remained relatively constant, while the number of trade partnerships increased by over 65%. Over this same period, the total quantity of seafood traded increased by 58% and the value increased 85% in real terms. These changes signify the increasing globalization of seafood products. Additionally, the trade patterns in the network indicate: increased influence of Thailand and China, strengthened intraregional trade, and increased exports from South America and Asia. In addition to characterizing these network changes, this study identifies data needs in order to connect seafood trade with environmental impacts and food security outcomes.

The Governance of the Global Factory: Location and Control of World Economic Activity

Abstract: Recent years have witnessed major changes in the global location of economic activity, with the emerging economies assuming greater shares relative to the advanced economies. These developments have led many authors to refer to the idea of the global factory. But little attention has been given to who has control over the geographically dispersed activities—or, to put it another way, about the governance of the global factory. Have the changes in the global location of economic activity come about primarily through the growth of locally owned firms in the emerging economies, or through increased FDI by MNEs from the advanced economies, or through the proliferation of outsourcing arrangements coordinated by firms in the advanced economies? These control/governance issues have profound implications for the capture of the profits/rents earned in global value chains, and hence for the global distribution of income. This paper explores these issues, and considers who has benefited most from the contemporary phase of globalization.

Socio-Economic Segregation in European Capital Cities: Increasing Separation between Poor and Rich (discussion paper)

Abstract: Socio-economic inequality is on the rise in major European cities as are the worries about that, since this development is seen as threatening social cohesion and stability. Surprisingly, relatively little is known about the spatial dimensions of rising socioeconomic inequality. This paper builds on a study of socio-economic segregation in twelve European cities: Amsterdam, Athens, Budapest, London, Madrid, Oslo, Prague, Riga, Stockholm, Tallinn, Vienna, and Vilnius. Data are used from national censuses and registers for the years 2001 and 2011. The main conclusion is that socio-economic segregation in Europe has grown. This paper develops a rigorous multi-factor approach to understand segregation and links it to four underlying universal, partially overlapping, structural factors: social inequalities, globalization and economic restructuring, welfare regimes, and housing systems. The paper provides an in-depth discussion of these factors to come to a better understanding of the differences between the hypothesized and actual segregation levels measured. It is suggested that introducing time-lags between structural factors and segregation outcomes improve the theoretical model.

Does Globalization Impede Environmental Quality in India

Abstract: Using annual data for the period 1970-2012, the study explores the relationship between globalization and CO2 emissions by incorporating energy consumption, financial development and economic growth in CO2 emission function for India. It applies Lee and Strazicich (2013) unit root test for examining the stationary properties of variables in presence of structural breaks and employs the cointegration method proposed by Bayer-Hanck (2013) to test the long-run relationships in the model. The robustness s of cointegration result from the latter model was further verified with the application of the ARDL bounds testing approach to cointegration proposed by Pesaran, Shin and Smith (2001). After confirming the existence of cointegration, the overall long run estimates of the estimation of carbon emission model points out that acceleration in the process of globalization (measured in its three dimensions - economic, social and political globalizations) and energy consumption result in increasing CO2 emissions, along with the contribution of economic development and financial development towards the deterioration of the environmental quality by raising CO2 emissions over the long-run. This finding validates holding of environmental Kuznets Curve (EKC) hypothesis for the Indian context.