Definition: Globalization
IMF terminology
The process through which an increasingly free flow of ideas, people, goods, services, and capital leads to the integration of economies and societies. Major factors in the spread of globalization have been increased trade liberalization and advances in communication technology.
Source:
International Monetary Fund (IMF), "Online glossary of selected financial terms" (as per March 15th, 2008), International Monetary Fund, Washington D.C., 2008
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