FACTOR ANALYSIS INFLUENCING GLOBALIZATION LEVEL IN COLOMBIA

Abstract

Beyond the debate on the positive or negative factors of globalization and its importance in Latin American countries, this research focuses on finding macroeconomic variables to measure the degree of globalization in Colombia.The different variables related to exports, foreign exchange transactions and the volume of business of international portfolios are part of the analysis of this study.Through a technique of reducing dimensions, it was concluded that the variables that have the greatest impact on globalization in Colombia arethe dollar amount of exports, amount of foreign exchange income to the countrypercentage of participation of Colombian exports in World Gross Domestic Product (WGDP) and business volume in the MILA integrated market.