How to measure globalization?

The OECD provides their suggestions in their just released Handbook on Economic Globalisation Indicators. (via New Economist)

Even though the scope of the Handbook is limited to measuring the magnitude of the globalisation process, the task encompasses a potentially large number of areas. Priority is given to those that are considered the mainsprings of globalisation: international trade, foreign direct investment, the activity of multinational firms and the production and international diffusion of technology.

The full 230+ report is available online. Also of interest, the 2005 A.T. Kearney/Foreign Policy Magazine Globalization Index.