The Impact of Globalization on National Accounts

Globalization, as it is generally known, is a centuries-old phenomena characterized by

increasing interdependence across national economies. Because of political developments and
advancements in information and communication technology, the phenomena has gained new
impetus in recent decades. Traditional interconnections, such as those found in closely linked
financial markets, have developed significantly. At the same time, globalization has deepened,
as seen by multinational value added chains, for example. Production processes are increasingly
extending across the globe. The impact of these changes on global income and productivity has
been good. However, the financial crisis, which started in the USA in 2007 and rapidly extended
to other areas of the world, has shown the huge hazards involved with the growing
interconnectivity of national economies.
Following a decision by the Conference of European Statisticians, a UNECE-led Expert Group on
the Impact of Globalization on National Accounts (GGNA) was established in April 2007. (CES).
The Group was put together in collaboration with the OECD and Eurostat. As a result of the
work of a number of international organizations, a framework of metrics for assessing the scale
and rate of economic globalization had already been agreed upon. However, little was known
about its impact on existing national statistics compilation. It was necessary to investigate how
globalization impacts the compilation of economic statistics in general and national accounts in
particular, as well as to identify areas where additional efforts are required to maintain data
quality. Under the provisions of the agreement, The GGNA's mandate stated that it would
"examine the key distortions in the compilation of national accounts and related source
statistics, as a result of globalization." The Group should "provide ideas on how to deal with
these distortions in order to improve the quality of national accounts" as part of this process.
The GGNA's study resulted in this guide, "The Impact of Globalization on National Accounts."

Reference:
https://unstats.un.org/unsd/EconStatKB/KnowledgebaseArticle10340.aspx
 Globalization’s Impact on Gender Equality: What’s happened and what’s needed

What has been the influence of globalization on gender equality? The effects of economic
integration, technological progress, and information access on gender inequality are
investigated in this study. It claims that globalization does not benefit everyone. Women, who
are most hampered by existing barriers, are frequently left behind. While the forces released by
globalization have helped to overcome some of the obstacles to greater gender equality, more
public effort is required to overcome the remaining obstacles. Gender disparities in
endowments, agency, and access to economic opportunities must all be addressed by public
policy.
Over the last three decades, the world has seen a massive economic transformation fueled by
increased worldwide flows of products and services, technology, and information. These
changes have altered the economic landscape for individuals, households, businesses, and
governments by altering the way domestic and global markets and institutions operate.
Economic opportunities have become more accessible as a result of globalization. Trade
liberalization and the expansion of information and communication technologies (ICTs) have
enhanced women's economic prospects and, in certain situations, their incomes in comparison
to men's. The need for female labor has increased due to growth in the export and ICT-enabled
industries, as well as a drop in the relevance of physical strength and a rise in the value of
cognitive skills. ICT has also increased access to markets among female farmers and
entrepreneurs by easing time and mobility constraints.
Several factors associated with a more global world strengthen the incentives for action toward
greater gender equality:

 Gender inequality is more costly in an integrated world because it diminishes a country’s

ability to compete internationally—particularly if the country specialises in female-
intensive goods and services.

 International peer pressure has also led more countries than ever to ratify treaties
against discrimination.

 Growing media exposure and consumers’ demands for better treatment of workers has
pushed multinationals toward fairer wages and better working conditions for women.

Globalization is shifting gender roles and norms:

 Increased access to information, primarily through television and the Internet, allows
countries to learn about social mores in other places, which can change perceptions
and promote the adoption of more egalitarian attitudes.
  Economic empowerment for women reinforces this process by promoting changes in
gender roles and allowing women to influence time allocation, shift relative power
within the household and exercise agency more broadly.

Globalization has the ability to help women achieve greater equality. Globalization, on the
other hand, will not be able to eliminate gender inequality in the absence of public policy.
Despite tremendous gains in agency and access to economic opportunities for many women in
many nations, major gender disparities persist in some areas. To reduce gender inequities in
endowments, agency, and access to economic opportunities, public intervention is required.
Only then will countries be able to fully use globalization's potential as a force for greater
gender equality.
Reference:
https://gsdrc.org/document-library/globalizations-impact-on-gender-equality-whats-
happened-and-whats-needed/
World Bank, 2011, 'Globalization's Impact on Gender Equality: What's happened and what's
needed', in World Development Report 2012: Gender Equality, World Bank, Washington DC, ch.
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