Entropy of globalizing world macroeconomy time series analysis

Abstract

In this paper, the globalisation measure based on the permutation entropy is proposed. The method is applied to four sets of time series: GDP, CPI, employment rates and CO2 emission rates. It has been shown that the results agree with the general observations of the globalization process. A particular achievement of the study is the proposition of the general method, which can be applied to any aspect of human activity indifference to the existing indexes which are focused on particular parameter or group of parameters.