scholarly journals The global economy affected by the COVID-19

2021 ◽  
Vol 129 ◽  
pp. 01030
Author(s):  
Ladislav Vagner
Keyword(s):  
Sensitivity Analysis ◽  
Earnings Management ◽  
Future Development ◽  
Global Economy ◽  
Value Added ◽  
Chinese City ◽  
Development Scenarios ◽  
Research Article ◽  
The World ◽  
Macroeconomic Indicators

Research background: The disease, which broke out in December 2019 in the Chinese city of Wuhan and caused a pandemic around the world, has a constant impact on the economies of the countries even after almost two years. The issue of the effect of COVID-19 on the global economy and overall earnings management persists. Due to the topicality of the problem, we focused on the impacts and measures affecting the company’s operation. Purpose of the article: The purpose of this research article is to summarize current information on coronavirus and its effects almost two years after the outbreak. Additionally, outline three different scenarios that could occur. We also took into consideration scientific sources that deal with the shock of COVID-19. In addition, we summarize the opinions of scientific authors. Methods: Within the methodology, we used mainly the analysis and obtaining an objective picture of the current situation in the world. Following the outbreak of the pandemic, there have been significant inconstancies in GDP. Subsequently, we focus on the development of individual selected macro indicators that best describe the global economy. Findings & Value added: Finally, we offer three scenarios that outline three different situations that may occur, which we worked on based on a scenario analysis based on a modification of the sensitivity analysis, to specify future development scenarios based on macroeconomic indicators.

scholarly journals How the global economy reflected the year of the pandemic

2021 ◽  
Vol 129 ◽  
pp. 01014
Author(s):  
Vladislav Kaputa ◽  
Frederik Kvočák ◽  
Miroslava Triznová ◽  
Andrej Tomić ◽  
Hana Maťová
Keyword(s):  
Global Economy ◽  
Value Added ◽  
Point Of View ◽  
Environmental Aspects ◽  
Data Comparison ◽  
The Social ◽  
Macroeconomic Indicators ◽  
The Individual ◽  
Reduced Mobility ◽  
The Impact

Research background: The coronavirus pandemic in 2020 had a significant impact on all aspects of life, from the point of view of the individual by forcing social isolation, moving work and study to the home, enormous pressure on the social and health system, but also by forcing closures of services and direct contact with customers. These, as well as other factors, have also had an impact on the performance of economies around the world. Purpose of the article: The paper aims to evaluate the development of the world's major economies in terms of macroeconomic indicators and foreign trade in the pandemic period and previous periods. The social and environmental aspects of the impact of the pandemic on selected economies are also reflected. Methods: Analysis of the main macroeconomic data, comparison and synthesis of findings. Findings & Value added: The interdependence of economies and interconnectedness of markets on transport routes associated with reduced mobility, forced isolation of people and death of economic activity had a significant impact on all the observed indicators, where a significant decline in GDP could be observed in all countries except China. This country was the only one that managed to keep GDP growth in positive numbers. Unemployment development was not equal in the observed economies due to different labour market environment. On the contrary, the environment has benefited in some way.

scholarly journals Interdisciplinary approaches to the new paradigm of the global financial and monetary architecture after the Covid 19 pandemic crisis in correlation with the social problems in the EU countries

2021 ◽  
Vol 129 ◽  
pp. 01008
Author(s):  
Ghenadie Ciobanu ◽  
Raluca Florentina Cretu ◽  
Mihai Dinu ◽  
Florin Dobre
Keyword(s):  
Global Economy ◽  
Social Systems ◽  
National Level ◽  
Value Added ◽  
Economic Problem ◽  
New Paradigm ◽  
Interdisciplinary Approaches ◽  
The Social ◽  
The World ◽  
The Impact

Research background: How will the world change after the pandemic? What will be the trends of the global economy after the pandemic in the conditions of digital transformations and the impact of other cutting-edge technologies that will change both the global paradigms of the world economy and the global financial and monetary architecture? It is a problem both globally and in each country. Purpose of the article: In this article we aim to examine the processes of transformation of the financial architecture worldwide in the current conditions of financial-monetary globalization, but also of the revolutionary transformations of digitalization and cybersecurity of national, regional, and global financial systems. Research method: We start from the historical approach of the world financial and monetary phenomenon in correlation with the social evolutions. Another method of research is longitudinal: the study of the world financial and monetary phenomenon in time in the context of building the new paradigm of development at the global level with the transition of building paradigms at the national level. In this context, the statistical method and the method of collecting statistical information are also necessary. Findings & Value added: In the conditions when many countries face various serious problems of social, demographic, mass population migration, imbalances in labor markets, declining quality of life, the new international financial-monetary paradigms, but also regional and national ones demand to be correlated by promoting current policies and building economic, financial-monetary and social systems that correspond to solving these socio-economic problem.

EURASIA IN POST-CRISIS ECONOMY AND ENERGY

2021 ◽  
pp. 126-134
Author(s):  
Gul'nar O. Khalova ◽  
◽  
Nikita I. Illeritskii ◽  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
The European Union ◽  
Economic Interests ◽  
Development Models ◽  
New Development ◽  
The World ◽  
Macroeconomic Indicators ◽  
Crisis Conditions ◽  
High Level

The article considers some of the macroeconomic results of 2020 for the global economy and individual regions and countries of the world. The authors identify a number of distinctive features of the global economic crisis of 2020 and its impact on the dynamics of macroeconomic indicators in individual regions and countries of the world (the Eurasian Economic Union, the European Union, and China). It is noted that during the crisis, negative trends in the world economy and politics became more acute and fundamental contradictions between the main participants in the world economy became tougher. At the same time, a high level of mutual dependence of the economies of the EU, EAEU, China and other Eurasian states was noted. Despite the crisis conditions and unfavorable political rhetoric, economic interests and the implementation of all – Eurasian projects can become a unifying factor for overcoming the crisis and forming new development models based on rational policies and the common benefit of the states of the Eurasian space.

scholarly journals THE GLOBAL ECONOMIC IMPACT OF THE COVID-19 OUTBREAK

2020 ◽  
Author(s):  
Khakim Gayurov ◽  
◽  
Munira Toshmatova ◽  
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Global Economy ◽  
World Health ◽  
Bond Yields ◽  
Chinese City ◽  
The World ◽  
Health Organization ◽  
The Impact ◽  
Do So

According to the World Health Organization, the new coronavirus, which first appeared in the Chinese city of Wuhan in December last year, infected more than 110,000 people in at least 110 countries and territories of the world. The virus outbreak has become one of the most serious threats to the global economy and financial markets. Large institutions and banks have reduced their forecasts for the global economy, and the Organization for Economic Co-operation and Development is one of the last countries to do so. Meanwhile, concerns about the impact of coronavirus on the global economy have stirred markets around the world: stock prices and bond yields have plummeted. The continued spread of the new coronavirus has become one of the biggest threats to the global economy and financial markets.

scholarly journals Regional tourism infrastructure development in the state strategies

2018 ◽  
Vol 16 (4) ◽  
pp. 259-274 ◽  
Author(s):  
Mariana Petrova ◽  
Nadiya Dekhtyar ◽  
Oleksii Klok ◽  
Olha Loseva
Keyword(s):  
Development Strategy ◽  
Global Economy ◽  
Tourism Development ◽  
Development Program ◽  
World Market ◽  
Tourism Industry ◽  
The State ◽  
Infrastructure Development ◽  
The World ◽  
Macroeconomic Indicators

Purposeful and reasonable state vision of the long-term tourism development strategy determines the success of a country in the world market of tourist services. Many countries have officially approved program documents that clearly outline the main goals and objectives of the state policy in the sphere of tourism, highlighting the resource potential, recreational infrastructure and preferred consumer markets, but there may be no idea of respecting the interests of domestic consumers. The maintenance of local tourism infrastructure is becoming an increasingly important prerequisite for the country’s competitiveness, as mass tourism is now replaced by individual travels. The article is aimed at studying the dependencies between the main macroeconomic indicators of the tourism industry, assessing the efficiency of foreign trade. The correlation-regression and cluster analysis has been used in order to confirm or refute the hypothesis if the effectiveness of the state support of the national tourism industry is dependent on the stable functioning of the domestic tourism market, e.g. stimulation of travels by residents. Based on the main macroeconomic indicators of the tourism industry for 136 countries of the world and overview of some national tourism development program, the analysis output has rejected the direct correlation between the support of the domestic market and export potential of the national tourism industry, but has proved the significance of the inner consumer power during the periods of downturns in the global economy for strengthening the country’s export potential.

scholarly journals FORECASTING THE POTENTIAL OF THE ECONOMIC SYSTEM ON THE BASIS OF THE EXOGENIC GROWTH MODEL

2020 ◽  
Author(s):  
Sergiy Poznyak ◽  
◽  
Yurii Kolyada ◽  
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Global Economy ◽  
Technological Progress ◽  
Growth Potential ◽  
Domestic Product ◽  
Solow Model ◽  
Economic Agents ◽  
The World ◽  
Macroeconomic Indicators

The paper considers models of economic growth and the possibility of modifying a suitable model to find the potential for economic growth for the economy of society. The world global economy is studied, presented in terms of societies of the world, in monetary terms and the growth potential of gross domestic product in relation to capital, labor, technological progress, population and other macroeconomic indicators that affect it. Theoretical and methodological significance lies in the description of a fundamentally new method of modeling, which can be used to assess the potential of economic development, proving the dynamics of the coefficients of elasticity of production factors, and proving the hypothesis of declining economic growth. The developed model effectively estimates the potential for economic growth for any country and can be used as a basis for forecasting indicators of potential capital intensity of production and potential gross domestic product. Regarding the practical significance of the obtained results, it should be noted that all changes and numerical values are supported by real data and are a consequence of economic, political or social phenomena in the economy of the country under consideration. In the further research it is possible to develop this model, adding to it new variables which influence economic growth, to update methodology of finding of coefficients as a result of actions of economic agents, instead of only their exogenous influence on economy. The work has three main sections. The first section contains theoretical aspects of estimating the evolutionary economy in the one-dimensional case, it describes the basic theoretical information about the Solow model and other neoclassical and endogenous models of economic growth. The second section describes the possibilities of the Solow model for estimating economic growth potential and theoretical aspects and derives the mathematical basis for estimating economic growth potential. Also in this section describes the implementation of the mathematical base. The third section comments on the results of modeling, based on which detailed conclusions are formed, which summarize the economic, mathematical, analytical and technical work. The simulation results well illustrate the degree of use of economic potential, as well as the impact of capital, technological progress, investment, natural population movement on the efficiency of the economy in terms of many countries. The developed software (as a product of the digital economy) can be used to further improve the model, taking into account more factors.

scholarly journals The USA, Russia and China as a Center of Influence in Global Economy

2021 ◽  
Vol 92 ◽  
pp. 09009
Author(s):  
Irina Minakova ◽  
Tatyana Bukreeva ◽  
Olga Solodukhina ◽  
Artyom Golovin
Keyword(s):  
United States ◽  
Global Economy ◽  
International System ◽  
Value Added ◽  
The United States ◽  
Interstate Relations ◽  
The Us ◽  
The World ◽  
The Usa ◽  
Key Issues

Research background. Due to the significant role that the United States, Russia and China play in the world political and economic processes, US-Russia-China relations can be recognized as the most important interstate relations in the world, setting the direction for the transformation of the international system. Nowadays, the study of these trilateral relations is a relevant scientific task. The authors, on a systematic basis, have investigated the aspects of interaction between the USA, Russia and China in the modern economy, which opened the way for solving the key issues of international relations. The authors have published several papers on this issue in Russia and abroad, including publications in Scopus and Web of Science indexed journals. Purpose of the article is to analyse the US-Russia-China relations and to determine the directions of their development in the context of globalization of the world economy. Methods. To analyse the interests, a systematic method was used that allows considering the interests of the United States, China and Russia as an holistic, complex mechanism with elements constantly interacting with each other. Findings & Value added. Despite geographical, linguistic, religious, and other distinctions, the United States, China, and Russia have a lot in common. There were historical periods of active and positive cooperation between these three major superpowers. In our opinion, in spite of the current contradictions between the parties, Russia, China and the United States have a mutual concern in harmonizing trilateral interests. However, the existed contradictions are not insoluble.

MNCs as a Factor for Governance Modernizing in the Twentieth Century

2018 ◽  
pp. 25-45
Author(s):  
Arkhipov Aleksey ◽  
Eteri Rubinskaya
Keyword(s):  
Global Economy ◽  
World Economy ◽  
National Development ◽  
Economic Security ◽  
State Regulation ◽  
Development Scenarios ◽  
Potential Development ◽  
The World ◽  
Transnational Entrepreneurship ◽  
Definition Of

Deepening integration of countries within the world economy demands from the states to develop internal and external policies which would be at the same time adequate to challenges of the global economy, to corporate interests and also to national development priorities. Thus, the new concept of state regulation of transnational entrepreneurship must take into account the network structure of organization and significant IT involvement in all transborder operations. In the research presented further we have analyzed the approaches to theoretical definition of transnational entrepreneurship along with the conditions for its formation and spread. We also attempt to determine the economic efficiency of network organization of transnational business under the conditions of global economic instability and the need for permanent development. The major problems related to the interactions of corporations and states are outlined, and the potential development scenarios for these relations are suggested. The role of today's transnational corporations in international capital flow and international labour distribution is explained; the meaning and value of such corporations for the world economy is assessed. The authors also offer for consideration the stages in Russian transnational entrepreneurship development along with recommendations concerning the development and implementation of national economic strategy taking into account the weight of transnationalization factor and the priorities of economic security.

scholarly journals Analysis of Motives behind the Usage of Earnings Management in Practice under the Conditions of Global Economy

2021 ◽  
Vol 92 ◽  
pp. 02054
Author(s):  
Monika Poradova
Keyword(s):  
Earnings Management ◽  
Global Economy ◽  
Management Practices ◽  
Method Comparison ◽  
Value Added ◽  
Financial Statements ◽  
Global Environment ◽  
Economic Result ◽  
Results Management ◽  
Result Management

Research background: Due to the complexity of the issue of global economic result management, the presented paper focused on specific procedures that are used comprehensively in practice in a global environment. The present paper consists of four parts. The first part of the paper deals with the theoretical aspects of the issue addressed. The second part consists of a combination of themes and a description of the methods that are used globally in the economic environment. The third part includes an analysis of countries that were among the largest manipulators of the global economic result from 2009 to 2018. Subsequently, possible impacts on the financial statements are prepared. The fourth part is devoted to the conclusions of the issue addressed. Purpose of the article: The aim of this paper is to compare the motives that lead to the application of results management practices globally in a global environment. Methods: In the processing of the present paper, a descriptive method, comparison and synthesis were used. Findings & Value added: Accounting standards point out that earnings management can be conducted within the regulatory framework as well as in the conflict of the global environment. The result of the present paper is a comprehensive look at the procedures and issues of earnings management with regard to the functions of the financial statements in the global economy.

scholarly journals Detection of earnings management in insurance companies in Slovakia

2021 ◽  
Vol 129 ◽  
pp. 03029
Author(s):  
Lucia Svabova ◽  
Roman Blazek
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Value Added ◽  
Real Data ◽  
Financial Statements ◽  
Insurance Companies ◽  
Fraudulent Financial Reporting ◽  
Creative Accounting ◽  
The World ◽  
History Of

Research background: Manipulation and the use of creative accounting or earnings management have become an increasingly popular topic in the history of researchers. Since 2002, this issue has attracted the attention of scientists and economists around the world. On the Slovak market, more than 30 insurance companies are actually operating, and some analyses have revealed that some of these insurance companies are engaging in activities that do not comply with the law. Purpose of the article: The article aims to use selected models for the detection of fraudulent financial reporting to determine whether there are unfair activities in insurance companies in Slovakia. At the same time, we evaluate the reliability of selected models and recommend the best models for this sector. Methods: Based on the set criteria, the Beneish model with five parameters and the Beneish model with eight parameters are applied to selected 20 companies in the Financial and Insurance activities sector to determine which companies have manipulated the financial statements. The analysis is performed using real data on Slovak companies from the Amadeus database. Findings & Value added: For the Financial and Insurance activities industry, we recommend using the Beneish model with eight parameters. Comparing the two models, we can conclude that this model is more accurate and thorough. The reason is also that this model works with more data from the financial statements.

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