Globalization
One index of globalization is the "KOF Index of Globalization", which measures three important dimensions of globalization: economic, social, and political. Another is the A.T. Kearney / Foreign Policy Magazine Globalization Index.
Measurements of economic globalization typically focus on variables such as trade, Foreign Direct Investment (FDI), Gross Domestic Product (GDP), portfolio investment, and income. However, newer indices attempt to measure globalization in more general terms, including variables related to political, social, cultural, and even environmental aspects of globalization.
Glocalization
Glocalization (a portmanteau of globalization and localization) is the "simultaneous occurrence of both universalizing and particularizing tendencies in contemporary social, political, and economic systems." The notion of glocalization "represents a challenge to simplistic conceptions of globalization processes as linear expansions of territorial scales. Glocalization indicates that the growing importance of continental and global levels is occurring together with the increasing salience of local and regional levels."