Journals Proceedings

Abstract

This paper is focused on the question of the links between institutional quality (in terms of quality of life, quality of governance, and business conditions) and globalization (measured by the components of the KOF globalization index). It is possible to conclude from the results achieved in the study that globalization remains firstly, a very strong and powerful economic phenomenon. Its positive effects on social development, its force to promote better institutions of all kinds, and its assumed ability to raise people from poverty and misery have still remained weak. In most cases emerging countries achieve worse results in various areas of institutional quality than the developed market economies, and so, any improvement in the parameters in the sub-index of economic or social globalization might contribute to improvement of the quality of institutions. Political globalization expressed by the number of embassies and participation in multinational organizations still says nothing about the activity of these countries and their position or influence in these organizations.