The Phases of the Postwar Evolution of Capitalism: the Transition from the Current Crisis into a New Worldwide Developmental Trajectory

2019 ◽  
Vol 18 (4) ◽  
pp. 457-488
Author(s):  
Charis Vlados
Keyword(s):  
World Economy ◽  
Structural Changes ◽  
Evolutionary Dynamics ◽  
Developmental Trajectory ◽  
Global Dynamics ◽  
Developmental Phase ◽  
Current Crisis ◽  
Global System ◽  
The World ◽  
Structural Levels

Abstract This article focuses on the evolutionary dynamics of the world economy after the Second World War to current day by reviewing the subject in evolutionary and holistic terms. In particular, its purpose is to examine the structuring of the current crisis and the prospects for overcoming it by advancing toward a new developmental phase, a new sustainable model of global development. We articulate our approach precisely at the link between the interconnection and the dialectic interdependence of the central structural components of global dynamics. In this direction, we introduce, propose, and utilize a three-sided structural analysis of global dynamics, a triptych. In particular, we claim that the changes in the global system are imprinted and can be studied at three co-located and dialectically interwoven central structural levels: at the level of current international regimes, at the level of central models of development and crisis, and at the level of the dominant types of business innovation. As a whole and on every level, the structural changes define and form in the background the evolutionary dynamics of the world economy, and thus by extension prescribe the conditions for the global system to construct the trajectory to exit from its current crisis.

scholarly journals Global Foreign Direct Investment: Structural Changes in the Current Crisis

2021 ◽  
Vol 17 (3) ◽  
pp. 1014-1026
Author(s):  
Еvegenii N. Smirnov ◽  
Sergey А. Lukyanov
Keyword(s):  
Foreign Direct Investment ◽  
International Trade ◽  
Direct Investment ◽  
World Economy ◽  
Structural Changes ◽  
Value Chains ◽  
Current Crisis ◽  
Economic Relations ◽  
Cross Border ◽  
The World

The current crisis, as well as complicated economic relations between countries, sustainable development risks of global value chains (GVCs), and international trade protectionism cause changes in the modern system of global foreign direct investment (FDI). Due to the complexity of these risks and the vulnerability of the world economy to future global recessions, it is necessary to develop a new concept of cross-border capital flows in the form of FDI. The research aims to identify structural changes in global FDI in the context of international trade and capital market challenges. Structural and dynamic analysis and a descriptive assessment were conducted to examine global foreign direct investment in the system of international capital movement, taking into account the unstable economic environment. A test of the impact of the current coronavirus crisis revealed that the retrospective transformation of global FDI occurred due to changes in the internationalisation of companies, cross-border mergers and acquisitions, and regional structure of FDI. Corporate disinvestment and the growing importance of intangible assets also played an important role. As a result, the slowdown in global FDI led to a decline in reinvested earnings in many economic sectors. As the long-term recovery of the world economy will be largely determined by the dynamics of global FDI, transnational companies (TNCs) should consider local crises and strive to geographically distribute capital investment. The research revealed that the differentiation of national GVC strategies and new approaches to foreign outsourcing of TNCs are the main risks of regionalisation or nationalisation of global value chains and a corresponding decrease in FDI. The findings can be used to modify well-known FDI concepts, taking into account their impact on modern international economic relations.

scholarly journals Structural changes and economic growth in the world economy and Russia

2019 ◽  
Vol 5 (1) ◽  
pp. 1-26 ◽  
Author(s):  
Valeriy V. Mironov ◽  
Liudmila D. Konovalova
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Global Economy ◽  
World Economy ◽  
Structural Changes ◽  
Russian Economy ◽  
The World ◽  
Preliminary Version ◽  
The One ◽  
Relationship Of

The article considers the problem of the relationship of structural changes and economic growth in the global economy and Russia in the framework of different methodological approaches. At the same time, the paper provides the analysis of complementarity of economic policy types, which, on the one hand, are aimed at developing the fundamentals of GDP growth (institutions, human capital and macroeconomic stabilization), and on the other hand, at initiating growth (with stable fundamentals) with the help of structural policy measures. In the study of structural changes in the global economy, new forms of policies of this kind have been revealed, in particular aimed at identifying sectors — drivers of economic growth based on a portfolio approach. In a given paper a preliminary version of the model of the Russian economy is provided, using a multisector version of the Thirlwall’s Law. Besides, the authors highlight a number of target parameters of indicators of competitiveness of the sectors of the Russian economy that allow us to expect its growth rate to accelerate above the exogenously given growth rate of the world economy.

scholarly journals Features of Corporate Management of Mergers and Acquisitions Processes

2020 ◽  
Vol 11 (514) ◽  
pp. 424-429
Author(s):  
O. V. Ptashchenko ◽  
Keyword(s):  
Mergers And Acquisitions ◽  
World Economy ◽  
Structural Changes ◽  
Social Situation ◽  
Corporate Management ◽  
Industrialized Countries ◽  
Modern Development ◽  
The World ◽  
Business Efficiency ◽  
History Of

The article examines the main features and identifies the main trends in the global M&A market. The modern development of the economy is characterized by the spread of the processes of globalization, and it can be noted that, one way or another, the latest waves of mergers and acquisitions are tightly related to the flow of these processes. The history of mergers and acquisitions processes in the world economy shows that all surges in mergers and acquisitions agreements were and are accounted for periods of structural changes, industrial rises, technological revolutions, significant organizational restructuring of the world economy. Mergers and acquisitions of companies are one of the most important business development instruments in the market economy. The purposes of these processes are often the growth of company and the use of various kinds of synergies, which is manifested in strengthening its impact on markets and improving business efficiency. Most mergers and acquisitions agreements are concluded by industrialized countries, their role is increasing for developing countries. The dynamics of the M&A processes market will largely depend on the ability of companies to enter into large contracts announced either at the end of the past year or earlier this year. Only then it could it be stated that the growth of activity in the mergers and acquisitions market has become a long-term trend. Many experts believe that a new wave of M&A will inevitably lead to an increase in unemployment, and this, in turn, will lead to an aggravation of the social situation and require additional costs from the budget.

scholarly journals GOVERNMENT ASSISTANCE FOR BUSINESS UNDER CONDITIONS OF THE CHALLENGES OF THE 21ST CENTURY

2021 ◽  
Author(s):  
Оleksandra Viter ◽  
Oksana Kylyn ◽  
Natalia Sveleba
Keyword(s):  
World Economy ◽  
Negative Impact ◽  
Tourism Industry ◽  
Budget Deficits ◽  
Current Crisis ◽  
Business Survival ◽  
Credit Lines ◽  
Long Run ◽  
Short Period ◽  
The World

The article analyzes the current state of the tourism business market. Crisis phenomena in tourism caused by COVID-19 are considered. It is noted that the outbreak of coronavirus has caused a significant blow to the world economy and as a result it affects key sectors of the economy. According to experts, the current crisis has a much greater sudden financial impact than on September 11 and the crisis of 2009 combined. It was found that according to UN WTO forecasts in 2020 the number of international tourists due to the coronavirus pandemic decreased by 20-30% compared to 2019. According to the updated IMF forecast, in 2020 world GDP will shrink by 4.9%, the world economy will lose $ 12.5 trillion. The United Nations World Tourism Organization (UNWTO) is calling for more funds to rehabilitate and support the tourism industry so that it can become a leader in economic recovery. The purpose of the measures implemented by governments during this difficult period can be divided into the following categories: to ensure a balance between the protection of tourists and the interests of tourism workers; provide conditions for business survival and targeted support and recovery of the tourism sector. Most countries focus on both approaches. Countries with more developed economies rely mainly on affordable credit lines which will restore the competitiveness of the national economy in a short period of time. Other countries are focusing on delaying tax and debt obligations, which could negatively affect the economy in the long run and lead to long-term budget deficits and general solvency problems. In order to stabilize the economic situation, governments adopt a range of both monetary and fiscal measures that can partially provide the conditions for business survival, as the tourism industry can become one of the drivers that helps the economy emerge from the crisis and can quickly create new jobs after crisis situations. Therefore, it is important that the measures taken by states to support the tourism business, the implementation of which will reduce the level of negative impact of the pandemic on the economy of the tourism industry.

scholarly journals Compassionate Capitalism - The Pursuit of Equal Income Distribution

2017 ◽  
Vol 2 (4) ◽  
pp. 70
Author(s):  
Rebeca Rodríguez Minor
Keyword(s):  
Income Distribution ◽  
World Economy ◽  
Capitalist System ◽  
Global System ◽  
Economic Disparity ◽  
Mass Migration ◽  
The World ◽  
The Common ◽  
Equal Income ◽  
Near Future

During the last decades, the great weaknesses of capitalism have flourished. Inequality of income distribution has worsened painfully, the gap between rich and poor widens more and more every day, and just a few lucky entrepreneurs in the world are able to enjoy the capital benefits of the global system. Hunger, poverty, demographic explosion, ageing, and unbridled mass migration, among other factors, have become critical social dilemmas directly related to capitalist deviations, all of which cause us to foresee a chaotic world scenario in the near future. The numbers shown in this article confirm that the world’s economic disparity, instead of diminishing, is increasing at an alarming rate. Unfortunately, since the world economy completely depends on capitalism, this system is still extremely powerful and influential in global decision-making, thus further aggravating economic disparity. Therefore, as it is not possible to avoid the capitalist system, we will make proposals that are feasible for implementing within the current capitalist tendencies in order to alleviate global imbalance. Compassionate Capitalism is an alternative that promotes flexibilization of the system in order to make it more sustainable. It seeks to diminish corporate control over the economy and markets by regaining the State’s economic intervention so that profits are fairly redistributed for the common welfare. The information used for the study is based on the most recent international reports and global circumstances of the topics in question.

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