Transformation of global economic systems as a conseguence of the pandemic COVID-19

2020 ◽  
pp. 4-14
Author(s):  
Nikolay Vladimirovich Novichkov ◽  
Ekaterina Andreevna Savchenko ◽  
Alexandra Vladimirovna Novichkova
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Systems Approach ◽  
Economic Systems ◽  
Research Subject ◽  
Food Markets ◽  
Economic Relations ◽  
Systems Research ◽  
Very High

The article reveals the features of the transformation of global economic systems caused by the coronavirus pandemic. The nature, namely, transformational changes, the basic characteristic of which is the acquisition of new properties and manifestations, has been substantiated. Separately, attention is focused on the fact that transformational changes will be of a long-term nature, which will be observed even after overcoming the coronavirus pandemic. The relevance of this direction seems to be very high, since changes in the global economic world will be extremely signifi cant. The article also identifi es some areas of transformational changes (regionalism, new content of economic systems, their restructuring, the emergence of online solutions, etc.). Separately, the work analyzes the consequences of transformation in a number of signifi cant global economic systems: global fi nance, tourism, transport, entertainment industry, food markets, migration fl ows, etc. In addition, the need to search for new content in the functioning and development of international economic associations is indicated. The purpose of the study is to substantiate the directions and consequences of the transformation of global economic systems. The research tasks are reduced to substantiating the content of global economic systems; identifying areas of general transformational changes in the world economy; the designation of the directions and consequences of the transformation of certain global industries, markets, economic processes. Research subject: global economic relations. Research object: global economic systems. Research methods: systems approach, statistical method, modeling method. Research results. The main types of global economic systems are formulated; the directions of transformation of global economic systems are revealed; the global economic systems in which the transformational changes have occurred most clearly and signifi cantly; formulated possible contours of the functioning and development of global economic systems after the end of the coronavirus epidemic; directions that require special attention in the development of the global economy are proposed.

scholarly journals Global economy interacts with climate change to jeopardize species conservation: the case of the greater flamingo in the Mediterranean and West Africa

2011 ◽  
Vol 39 (1) ◽  
pp. 1-3 ◽  
Author(s):  
ARNAUD BÉCHET ◽  
MANUEL RENDÓN-MARTOS ◽  
MIGUEL ÁNGEL RENDÓN ◽  
JUAN AGUILAR AMAT ◽  
ALAN R. JOHNSON ◽  
...  
Keyword(s):  
Climate Change ◽  
Global Economy ◽  
World Economy ◽  
Species Conservation ◽  
Price Volatility ◽  
Economic Activities ◽  
Anthropogenic Habitats ◽  
Recent Financial Crisis ◽  
Economic Use

The conservation of many species depends on sustainable economic activities that shape their habitats. The economic use of these anthropogenic habitats may change quickly owing to world trade globalization, market reorientations, price volatility or shifts in subsidy policies. The recent financial crisis has produced a global impact on the world economy. How this may have affected the use of habitats beneficial to biodiversity has not yet been documented. However, consequences could be particularly acute for species sensitive to climate change, jeopardizing long-term conservation efforts.

To development drivers of the Russian economy

2020 ◽  
Vol 16 (10) ◽  
pp. 1881-1899
Author(s):  
V.V. Smirnov
Keyword(s):  
Global Economy ◽  
Systems Approach ◽  
Consumer Price Index ◽  
Federal Budget ◽  
Active Recovery ◽  
Public Authorities ◽  
Economic Relations ◽  
Russian Economy ◽  
The Usa ◽  
And Cluster Analysis

Subject. The article focuses on the development of Russia's economy. Objectives. The study attempts to discover development drivers of the Russian economy, the substance of economic growth during the contemporary capitalist cycle. Methods. The study is based on the systems approach and methods of statistical and cluster analysis. Results. Evaluating the median and he Fischer test of quarterly growth rates of economic and financial indicators and their clustering with federal budget, I discovered what distinguished the Russian economy from socialist China (the dynamics of growth in GDP and exports); from leading capitalist economies, such as Germany and the USA (a decrease in the unemployment rate). I determine what maintains Russia's activity during the globalization, that is, a growth in Consumer Price Index and the devaluation of the national currency. I discovered dampering signs of the Russian economy during crises and the active recovery of the global economy. Conclusions and Relevance. What will drive the development of the Russian economy mainly depends on its position in the global economy and the dampering role of capitalist cycles, considering the contradictory development of productive forces and economic relations. The findings contribute to the knowledge and new competencies of public authorities to make administrative decisions on methods to advance the Russian economy.

scholarly journals The digital economy in the management of socio-economic relations in the global economy

2021 ◽  
Vol 106 ◽  
pp. 01004
Author(s):  
Fatima Dakhaeva ◽  
Raisa Datsaeva
Keyword(s):  
Economic Analysis ◽  
Exponential Growth ◽  
Global Economy ◽  
Digital Technologies ◽  
Digital Economy ◽  
Social Structures ◽  
Economic Systems ◽  
Economic Relations ◽  
Data Flows ◽  
New Type

The continuing complication of social structures and relations, which are increasingly based on modern digital technologies, causing exponential growth in data flows, brings to the fore the question of the formation of the digital economy. The importance of the ongoing processes made it possible to raise the question of the formation of a new type of economy, where relations with regard to the production, processing, storage, transmission, and use of an increasing amount of data acquire dominant importance. The data become the basis for economic analysis, which examines the patterns of functioning of modern socio-economic systems. According to a number of experts, at present, it is important for an economic agent not to possess any resource, but to have data on this resource and the ability to use it to plan its activities.

scholarly journals Impact of Morocco-ECOWAS Economic Relations on Economic Growth in Morocco: An Analysis Using the ARDL Model

2018 ◽  
Vol 10 (5) ◽  
pp. 105 ◽  
Author(s):  
Hidaya EL Khattabi ◽  
Mohamed Karim
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Global Economy ◽  
Bilateral Trade ◽  
Economic Relations ◽  
Trade Relations ◽  
Major Player ◽  
Trade Opening

Over the last decade, Morocco has undertaken numerous reforms in order to successfully integrate itself into the global economy in general, and Africa in particular, with the aim of diversifying and strengthening its competitive export potential.In fact, the analysis of trade relations between Morocco and ECOWAS reveals an increasing volume of trade, reflecting a continuous dynamization of their commercial relations. A similar trend is observed in foreign direct investment, which has been growing steadily over the last few years, reflecting Morocco’s desire to become a major player in the development of the African continent.The analysis of Morocco’s trade opening and foreign direct investment (FDI) in ECOWAS on Morocco’s economic growth, using ARDL (Autorégressive distribution Lag) modelling, shows that Moroccan foreign direct investment to ECOWAS has a significant impact on its GDP per capita in the short and long term. With regard to bilateral trade between the two partners, no long-term equilibrium relationship could be established due to the still low weight of trade volumes.

scholarly journals COMPETITIVE ADVANTAGES OF POLISH FOOD PRODUCERS ON THE EUROPEN UNION MARKET IN THE POST-ACCESSION PERIOD

2017 ◽  
Vol 16 (2) ◽  
pp. 13-22
Author(s):  
Mirosława Braja ◽  
Janina Sawicka
Keyword(s):  
European Union ◽  
World Economy ◽  
Market Analysis ◽  
Competitive Advantages ◽  
The European Union ◽  
Food Markets ◽  
Different Types ◽  
Long Term Observation ◽  
Quality Approach

Processes and phenomenons that appear within world economy result in the increase of competition on lots of markets, including the food markets. This competition is won by the entities, sectors and countries that possess the advantages which create their competitiveness. Different types of food producers’ competitive advantages may be identified. Mostly pointed out are price advantages and quality advantages. The aim of this paper is to identify the sources of competitive advantages of Polish food producers on the European Union market that appeared within the period 2004–2016. The analysis covered 26 groups of products which were selected according to their significance for Polish agri-food export. The long-term observation let the Authors identify the dominating strategies of competing which were implemented by Polish food producers on the European Union market. Analysis was conducted with the Aiginger’s price-quality approach and was based on the data available within Eurostat Comext database.

scholarly journals Current transformation trends in the economy in response to transnationalization

2017 ◽  
pp. 88-95
Author(s):  
Kateryna Zhylenko
Keyword(s):  
Rapid Growth ◽  
Global Economy ◽  
World Economy ◽  
Structural Changes ◽  
Global Strategy ◽  
Foreign Direct Investments ◽  
Negative Consequences ◽  
Economic Relations ◽  
Goods And Services ◽  
The World

The article considers current trends of transnationalization in the light of globalization of the world economy. The sources and channels of foreign direct investments are analyzed. It is pointed out, that the degree of TNC penetration into other countries’ economies is described by a means of ranking companies called transnationality index. The key factors of the rapid growth of TNCs and their turning into one of the most important actors of the current market economy are identified. There seems to be a tendency to a greater consolidation of TNCs, which is evidenced by a growing number of mergers and acquisitions of economic entities. It is noted that an increase in foreign direct investments over the last decades has been related to a rapid growth of international corporations that make investments, have branches and subsidiaries in many countries of the world. It is stressed that a further study of transnationalization should be carried out to understand both positive and negative consequences of structural changes in the global economy. A particular attention should be paid to changes in ways and systems of interaction between strategically significant sectors of the economy. A primary purpose of the paper is to consider the current role of TNCs, and to assess the degree of TNCs’ impact on the dynamics of changes in the world economy and international economic relations in the context of transnationalization. The growth of TNCs, which is currently observed, has given a new impetus to integration processes in the world economy. Definitely, it is due to the fact that overseas branches seek to be an integral part of economies of host countries and become incorporated into domestic markets of other countries. Modern TNCs are a combination of national enterprises and foreign affiliates, that form a coherent global system, in which separate branches located in various countries, operate within a framework of unified global strategy. Another feature of TNCs is their severe competition not only in the world markets of goods and services, but also on capital, labour, technology, and information markets.

THE ROLE OF THE OTTOMANS AND DUTCH IN THE COMMERCIAL INTEGRATION BETWEEN THE LEVANT AND ATLANTIC IN THE SEVENTEENTH CENTURY

2002 ◽  
Vol 45 (2) ◽  
pp. 197-230 ◽  
Author(s):  
Mehmet Bulut
Keyword(s):  
Seventeenth Century ◽  
Ottoman Empire ◽  
Present Article ◽  
World Economy ◽  
Western Europe ◽  
Economic Systems ◽  
Economic Relations ◽  
The World ◽  
World Economic

AbstractThe present paper focuses on the role of the Ottomans and Dutch in the early commercial integration between the Levant and Atlantic in the seventeenth century. As an expanding trading nation in the world economy, the Dutch Republic played an important role in the commercial integration between the provinces of the Ottoman Empire and Western Europe. The growth of Ottoman-Dutch economic relations in the seventeenth century followed the growth of economic relations between the provinces of the Empire and Western Europe.Therefore, the two world economic systems, the Ottoman and Western European economy increasingly opened to each other. Le présent article examine les rôles respectifs des Ottomans et des Néerlandais dans le début de l'intégration commerciale entre le Levant et l'Océan Atlantique au XVIIème siècle. Nation commerciale en expansion dans l'économie mondiale, la République hollandaise a joué un rôle important dans l'intégration commerciale des provinces de l'Empire Ottoman à l'Europe Occidentale dans la même période. La croissance des relations économiques entre le monde ottoman et la Hollande au XVIIème siècle a suivi la progression des échanges entre l'Empire et l'Europe occidentale. En conséquence, les deux systèmes économiques du monde se sont de plus en plus ouverts l'un à l'autre.

scholarly journals IMPACT OF COVID-19 ON WORLD ECONOMY: THE FIRST SUMMARY OF 2020

2021 ◽  
Author(s):  
Kateryna Sydorenko ◽  
◽  
Olha Sheremet ◽  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Large Scale ◽  
Negative Impact ◽  
Commodity Prices ◽  
Developed Countries ◽  
Development Planning ◽  
Synthesis Methods ◽  
Economic Relations ◽  
The World

The purpose of article is to comprehensively assess the consequences of COVID-19 for global economy, regions, industries and different forms of international economic relations. In early 2020, the world was hit by the COVID-19 pandemic. To save the lives of citizens and the integrity of the health care system, countries were forced to resort to radical measures: lockdowns, which included the complete or partial cessation of international traffic and the reduction of economic activity. Such actions had a negative impact on the world economy: a drop in world production, a decrease in international demand, an increase in unemployment and poverty, a decline in FDI flows. The situation has reached the level of the Great Depression of the 1930s. The COVID-19 crisis has affected regions in different ways. The research methodology combines general and special methods of scientific knowledge: descriptive-analytical, analysis and synthesis, methods of quantitative and qualitative comparisons. The information basis of the article is research and periodical publications of foreign economists, materials and analytical reports of international organizations. The results of the study revealed that the global economic crisis caused by COVID-19 started with China, which applied extremely strict quarantine restrictions and already at the end of 2020 showed economic growth. And gradually spread to Europe, North America and the rest of the world. The negative impact of COVID-19 on developed countries with a high proportion of the older people among the population most vulnerable to the disease has been most noticeable. Europe is the region that has suffered the most. For Latin America, Africa and parts of developing Asia, the COVID-19 crisis has been burdened by permanent economic problems and natural disasters: the weakness of the financial system, large public debt, high dependence on commodity prices, locust infestations etc. Developed countries had a margin of stability, so they conducted large-scale programs to support business and households, especially effective were credit guarantee and job preservation state programs. While developing countries were less affected by the spread of the disease but did not have the financial resources to deploy large-scale government assistance programs. New imbalances have emerged in the structure of the world economy. Some industries suffered huge losses and found themselves on the brink of survival (tourism, hotel and restaurant business, entertainment, etc.), unemployment rose significantly; others, on the contrary, worked at full capacity 24/7 and workers were forced to work overtime. FDI flows fell below the level of 2008-2009. The least FDI came to developed countries. Most FDI accounted for mergers and acquisitions in 2020, while investment in existing production assets suffered the most. This trend is expected to continue in 2021. According to the forecast, 2021 should mark the beginning of economic recovery, but it is unlikely to reach the level of 2019. The results of this study could be used in further research, also as in development, planning and implementation of state crisis strategies.

Modern globalization: development of glocalization and fragmentation of the world economy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alexey Yu. Arkhipov ◽  
Alexey N. Yeletsky
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Comparative Modeling ◽  
Theoretical Concept ◽  
Modern World ◽  
Content Type ◽  
Economic Relations ◽  
The World ◽  
World Economic ◽  
Analysis System

PurposeThe purpose of the article is to analyze the contradictory trends in the development of the modern world economic system. The relevance of the topic is due to the multifaceted and ambiguous nature of regionalization, glocalization and fragmentation tendencies formed as the most important trends in the crisis of globalism.Design/methodology/approachBased on the classical methods of historical and functional analysis, system approach and comparative studies, the authors realized the research potential of modern methodological tools, alternative forecasting methods and comparative modeling, as well as special methods of economic globalistics and global political economy. Heuristic possibilities of the methodological–theoretical concept of glocalization of international economic relations are used.FindingsNew directions and opportunities for attaining regional and global geo-economic leadership are revealed and demonstrated. It is justified that glocalization does not lead to economic isolation in previously known historical forms but to priority realization of the interests of local economic entities included in the processes of globalization and subordinated to its patterns. Glocalization causes an increase in the role of local factors in the global development of the society, in particular of the global economy.Originality/valueIt is established that the so-called equilibrium zones (enjoying the advantages of an intermediary role in the interrelationships of large areas of the world economy, which are headed by geo-economic leaders) possess the potential for novelty in the dynamics of a globalizing economy. The article predicts the formation of a multidimensional and multilevel geo-economic multipolarity due to the reshaping of the global system of leadership in the world economy and due to the contradictory competitive relationships of its main centers.

scholarly journals The Crucial Factors and Prospects for the Recovery of the World Economy in the Global COVID-19 Recession

2020 ◽  
Vol 12 (515) ◽  
pp. 39-46
Author(s):  
N. G. Kalyuzhna ◽  
◽  
T. K. Kovtun ◽  
Keyword(s):  
Foreign Trade ◽  
Global Economy ◽  
World Economy ◽  
Recovery Period ◽  
Economic Recession ◽  
Negative Consequences ◽  
Global Recession ◽  
The World ◽  
Foreign Trade Turnover

The article focuses on identifying and systematizing the hallmarks of the COVID-19 recession as unprecedented in terms of the both spread and impact on the global economy in the phase of business activity downturn. The dynamics of the main indicators of economic growth are researched and it is substantiated that the negative linear forecast trends allow forecasting the long-term recovery period after the current global recession. It is shown that the global recession of 2020 negatively affects the prospects for the recovery of major national economies of the world, given the high probability of the introduction of repeated quarantine restrictions. Based on the analysis of the dynamics of the index of global economic uncertainty, the world economy is confirmed to be in the most uncertain state during the period of observations. According to the analysis of the values of the barometer of world trade in goods in 2020, negative changes in the structure and dynamics of foreign trade turnover and doubt for the rapid recovery of global supply chains were evidenced. Based on the generalization of the results of the study, key distinctive signs of the COVID-19 economic recession have been systematized justifying that, in addition to any recession inherent in the loss of growth rate of world production, the current economic crisis is accompanied by a drop reaching the critical deadlines of a number of indicators of the intensity of global development, which confirms its unprecedented spread and impact on the world economy. It is substantiated that the confirmation of the determined trends allows to predict the long-term negative consequences of the modern global recession, which leads to the need to substantiate the directions of recovery of the world economy and foreign trade cooperation of the countries under crisis conditions.

Sign in / Sign up

Export Citation Format

Share Document