An interesting proposal from the IMF is a liquidity line from the IMF, where countries are pre-qualified by the IMF and told (perhaps privately) how much of a line they would qualify for under current policy – with access limits revised every year after the Article IV discussions and any curtailment becoming effective 6 months later.
A second commonly used measure of globalisation is a country’s participation in international capital flows, particularly Foreign Direct Investment (FDI). As you know, annual flow of FDI across the globe is more than $ 1 trillion, i.e., $ 1,000 billion.