scholarly journals Global economic crisis of 2020 and a new paradigm of countercyclical management

2021 ◽  
Vol 19 (1) ◽  
pp. 397-415
Author(s):  
Anatolii Poruchnyk ◽  
Anatoliy Kolot ◽  
Pawel Mielcarek ◽  
Yaroslava Stoliarchuk ◽  
Denys Ilnytskyy
Keyword(s):  
Economic Crisis ◽  
Multinational Enterprises ◽  
Driving Forces ◽  
Mutual Influence ◽  
Radical Change ◽  
New Paradigm ◽  
Health Crisis ◽  
Historical Progress ◽  
The World ◽  
Management Institutions

The new quality of globalization, which has emerged in the last decade and encompasses drastic changes in the economic, political and technological spheres, gives rise to a number of phenomena that violate the traditional logic of historical progress. One of them is the metamorphosis of the world economic cyclicity that emerged during the global 2020 economic crisis and led to a radical change in its nature, driving forces and regulatory mechanisms. The paper reveals the prerequisites for the crisis caused by traditional and emerging factors and proves its pandemic nature, which manifests itself, on one hand, in the synchronization of national business cycles, and on the other – in the integrative mutual influence of its political, institutional and environmental components. It has been proven that a particularly destructive role in the global regulatory mechanism was played by the “overlap” in space and time of the economic crisis and the health crisis provoked by the coronavirus pandemic. This requires an urgent systematic reform of global countercyclical management institutions based on a gestalt paradigm, which is qualitatively different in principles, goals and tools from the existing mechanisms for managing national economies and multinational enterprises. Scenario forecasts of the post-pandemic future of the world economy through overcoming the growing disintegration and deglobalization trends are outlined.

The Control of Transfer Pricing of Corporations by Blockchain Technology

2020 ◽  
pp. 377-393
Author(s):  
Habip Demirhan
Keyword(s):  
Public Sector ◽  
Multinational Enterprises ◽  
Driving Forces ◽  
Transfer Pricing ◽  
Economic Structure ◽  
New Approach ◽  
The Public ◽  
Blockchain Technology ◽  
The World ◽  
Cultural Structure

The globalization movements that had emerged in the last century have not only influenced the world's social, political, and cultural structure, but also have influenced its economic structure as well. The globalization of the world economy makes locations and economic units between countries or regions interdependent on one another. The primary driving forces of this process include technological change and multinational enterprises. Thus, intercompany transactions are important for multinational enterprises. In recent years, discussions regarding the applicability of blockchain technology, or more commonly referred to as crypto coins, for the public sector have emerged. This study therefore attempts to explain the applicability of blockchain technology in relation to transfer pricing, and it clarifies (1) how blockchain technology represents a new approach to transfer pricing, (2) how blockchain technology reduces transfer pricing evasion, and (3) how blockchain technology increases both transparency and accountability.

scholarly journals The BRICS response to COVID-19

2020 ◽  
Vol 1 (1) ◽  
pp. 190
Author(s):  
Pedro Fonseca ◽  
Samuel Spellmann ◽  
Lucas Gualberto Do Nascimento ◽  
Elena Bastrykina ◽  
Arindam Das
Keyword(s):  
Early Detection ◽  
Economic Crisis ◽  
International Health ◽  
Communication Technologies ◽  
Health Crisis ◽  
Brics Countries ◽  
The World ◽  
High Degree

Since late 2019, SARS-CoV2 pandemic has spread worldwide. After several generations without a severe pandemic, the mixture of health and economic crisis has hit populations in all continents. The high degree of connectivity that States share, enabled by the current transportation and communication technologies, caused different regions of the world to be affected by coronavirus disease at almost the same time. Yet States responses to the SARS-CoV2 pandemic were not the same. This brief focuses on the BRICS countries individual, bilateral and collective responses to the international health crisis caused by coronavirus disease, from the early detection of COVID-19 cases in China in late December 2019 to the current surge of cases in Brazil.

scholarly journals Lessons from Globalization and the COVID-19 Pandemic for Economic, Environmental and Social Policy

World ◽  
2021 ◽  
Vol 2 (2) ◽  
pp. 308-333
Author(s):  
Bianca Blum ◽  
Bernhard K. J. Neumärker
Keyword(s):  
Climate Change Mitigation ◽  
Driving Forces ◽  
Policy Implications ◽  
Future Generations ◽  
Basic Income ◽  
Health Crisis ◽  
Environmental Disasters ◽  
The World ◽  
Key Issues ◽  
Change Mitigation

The rapidly spreading COVID-19 pandemic in 2020 not only brought many countries in the world to a state of health crisis, but also increasingly drove economic and social crisis. The roots of these crises, however, run far deeper and can be traced to decades of neoliberal political and economic actions and driving forces of globalization. Increasing globalization and liberalization of markets led to the increasing privatization of many public goods while collectivizing risks such as environmental disasters, pandemics and economic crises. This paper presents the context and emergence of these crisis states and derives public policy implications in the areas of externalities management, digitalization, and basic income based on a broad literature review. These key issues need to be addressed both during and after the crisis in order to address the problems of environmental quality and climate change mitigation, as well as rising inequality and injustice for current and future generations.

scholarly journals State Response to the COVID-19 Pandemic

2020 ◽  
Vol 14 (2) ◽  
pp. 175
Author(s):  
Vinsensio Dugis (Scopus ID: 57201258125)
Keyword(s):  
Global Health ◽  
Economic Crisis ◽  
Health Crisis ◽  
Initial Information ◽  
Critical Moment ◽  
State Response ◽  
Fast Learning ◽  
Factors Influencing ◽  
The World ◽  
Initial Attitude

In this edition, Global Strategis specifically presents articles about the experiences of seventeen different countries from various regions in the world, on how their respective governments respond to the COVID-19 pandemic. The focus was on the first six months of 2020 as this period (January to June 2020) is considered a critical moment. It was during this period the world realizes that it is faced with a global health crisis, enforcing every  country to 'fast learning' confronting this completely new pandemic, and hence to determine the most appropriate response in confronting the difficult choice between saving people's lives or preventing the country's economic crisis. Different experiences of each country seem to suggest that above various variables affecting each of them, the initial attitude of their respective governments in assessing the deadly level of COVID-19 pandemic and the speed to act according to what is most needed are crucial factors influencing the relative success or not of the response of their respective governments. When knowing the initial information about the transmission of the virus that originated in Wuhan, China, to what extent the governments of each country see this as a force that potentially deadly outbreak? Keywords: Global Health Crisis, Pandemic Covid-19, State Response.Pada edisi ini, Global Strategis secara khusus menghadirkan tulisan tentang pengalaman tujuh belas negara dari kawasan dunia yang berbeda, bagaimana pemerintah mereka merespons pandemi COVID-19. Fokus kajian pada periode enam bulan pertama tahun 2020 karena periode ini (Januari sampai dengan Juni 2020) dianggap momen kritis. Pada periode inilah dunia mengakui mulai sedang dihadapkan pada situasi krisis kesehatan global, memaksa setiap negara ‘belajar cepat’ menghadapi pandemi yang sama sekali baru ini, untuk selanjutnya secara tepat pula menentukan respons yang paling sesuai menghadapi pilihan sulit antara menyelamatkan nyawa penduduk atau mencegah krisis ekonomi negara. Pengalaman berbeda dari berbagai negara nampaknya membawa ke suatu kesimpulan bahwa di atas kompleksitas variabel yang masing-masing memengaruhi pilihan kebijakan, nampaknya sikap awal pemerintah di dalam menilai tingkat ‘mematikan’ wabah COVID-19 serta kecepatan bertindak atas dasar kebutuhan masing-masing menjadi faktor krusial menentukan keberhasilan masing-masing negara. Ketika mengetahui informasi awal tentang adanya penularan virus yang bermula dari Wuhan, China ini, sejauh mana pemerintah masing-masing negara melihat ini sebagai kekuatan yang berpotensi sebagai wabah mematikan? Kata-kata Kunci: Krisis Kesehatan Global, Pandemi COVID-19, Respon Negara.    

scholarly journals The Coronavirus and “The End of History”

2020 ◽  
pp. 5-13 ◽  
Author(s):  
Leonid Fituni
Keyword(s):  
Development Strategy ◽  
Economic Crisis ◽  
Raw Materials ◽  
Radical Change ◽  
Self Sufficiency ◽  
The World ◽  
Ruling Elites ◽  
Balance Of Forces ◽  
Radical Revision ◽  
The Impact

The author reviews some radical economic, political and philosophical assessments of the impact of the COVID-19 epidemic on world development, which became very widespread in the first half of 2020. He concludes that most of them are basically a repetition of the assumptions and forecasts put forward immediately during and right after many previous economic crises and shocks of the world and public order, starting with the collapse of the USSR and including the 2008–2010 global financial and economic crisis. The real consequences of the cataclysms always depended and often stemmed from the behaviour of the national and global elites during the crisis. At the beginning of 2020, the reaction of the world ruling elites to the COVID-19 pandemic brought closer the onset of the emerging global economic crisis. Currently, a struggle is under way between global players, who anticipate a radical change in the balance of power in the world in their favor and those who, on the whole, would be satisfied with maintaining the “pre-coronavirus” balance of forces and interests. In this context, Russia does not have many strategic alternatives. In both of the options described as Project “globalization 2.0”, the subordinate position and the role of a raw materials supplier are prescribed to the country. The only valid option for a further development strategy is a radical revision of the basic concepts of the last 35 years of development and the adoption of the concept of self-sufficiency, centered exclusively on the interests of Russia.

scholarly journals From Extinction to the Recreation of the Living World: the Creative Dimension of Fatigue in the Posthuman Project

2021 ◽  
Vol 3 (1) ◽  
pp. 64-77
Author(s):  
Cosmin-Florentin Spaschi ◽  
Keyword(s):  
Economic Crisis ◽  
Current Situation ◽  
Ecological Crisis ◽  
Health Crisis ◽  
Living World ◽  
The World

In this article, I will follow the posthuman vision to describe the contemporary era. As Rosi Braidotti illustrates, this moment is defined by a continuous balance between optimism and anxiety. Therefore, we are talking about a culture of fatigue that is more and more present today. On this subject, we find three fundamental forms: theory fatigue, post-work fatigue, and democracy fatigue. I will make a presentation of all these forms, proving that the current capitalist paradigm leads us to a series of crises. Whether we are talking about the health crisis caused by the SARS-CoV-2 virus, an economic crisis, or an ecological crisis, the current situation is problematic. However, the position promoted by the posthuman project starts from these appearances and tries to develop an affirmative conception. As Braidotti illustrates, this aspect does not mean dismissing the crises in the world. On the contrary, we are talking about understanding the problematic aspects as an appeal for change. Therefore, in the model developed by Braidotti, we encounter a posthuman and post-anthropocentric turn that defines this model of thinking. Then, we observe an extension of the dimension of "us", which eliminates any forms of discrimination. Based on such premises, new disciplines are developed, illustrating the posthuman vision. Consequently, in the last part of the article, I will describe the posthuman project, to illustrate how these crises could be eliminated.

Strategy and Tactics of Monetary Policy during the World Economic Crisis

2010 ◽  
pp. 4-20 ◽  
Author(s):  
A. Nekipelov ◽  
M. Golovnin
Keyword(s):  
Monetary Policy ◽  
Economic Crisis ◽  
Exchange Rate Policy ◽  
Industrial Countries ◽  
Policy Goals ◽  
The World ◽  
Rate Policy ◽  
World Economic ◽  
World Economic Crisis ◽  
Qualitative Changes

The paper analyzes the qualitative changes in monetary policy goals and instruments during the world economic crisis of 2007-2009 in industrial countries and Russia; it represents the authors view on Russian monetary policy goals and results on different stages of crisis development. On the basis of the analysis the authors conclude on the necessity of active exchange rate policy in Russia, while developing interest rate instruments, and implementation of some exchange restrictions to prevent crisis contagion in the future.

2008 Economy Results: The End of the "Fat" Years

2009 ◽  
pp. 4-25 ◽  
Author(s):  
B. Zamaraev ◽  
A. Kiyutsevskaya ◽  
A. Nazarova ◽  
E. Sukhanov
Keyword(s):  
Economic Crisis ◽  
National Economy ◽  
Banking System ◽  
Housing Markets ◽  
Transmission Mechanism ◽  
Economic Conditions ◽  
Basic Change ◽  
Russian Economy ◽  
The World

The article analyzes the current economic conditions in Russia. Succession, distribution and the transmission mechanism of the world financial and economic crisis to the Russian economy are considered in this article as well as the changes in the banking system, share and housing markets. Production, consumption and investment on the boundary of 2008-2009 are described. The conclusion about the basic change of conditions of national economy development is presented.

World Economic Crisis as a Process of Substitution of Technological Modes

2009 ◽  
pp. 26-38 ◽  
Author(s):  
S. Glaziev
Keyword(s):  
Economic Crisis ◽  
Economic Activity ◽  
Sharp Increase ◽  
Energy Resources ◽  
Long Wave ◽  
The World ◽  
World Economic ◽  
Technological Mode ◽  
World Economic Crisis

The article analyzes fundamental reasons for the world economic crisis in the light of global technological shifts. It proves that it is caused by the substitution of technological modes. It is shown that sharp increase and slump in stock indices and prices for energy resources are typical of the process of technological substitution which occurs regularly according to the rhythm of long-wave fluctuations of the world economic activity. The article rationalizes a package of anti-crisis measures aimed at stimulating the new technological mode. Its structure and role of the locomotive factor of the new long wave of economic growth are revealed.

Eating NAFTA

2018 ◽  
Author(s):  
Alyshia Gálvez
Keyword(s):  
Public Health ◽  
Chronic Disease ◽  
Low Income ◽  
Food System ◽  
Dietary Habits ◽  
Trade Agreement ◽  
Well Being ◽  
Health Crisis ◽  
The North ◽  
The World

In the two decades since the North American Free Trade Agreement (NAFTA) went into effect, Mexico has seen an epidemic of diet-related illness. While globalization has been associated with an increase in chronic disease around the world, in Mexico, the speed and scope of the rise has been called a public health emergency. The shift in Mexican foodways is happening at a moment when the country’s ancestral cuisine is now more popular and appreciated around the world than ever. What does it mean for their health and well-being when many Mexicans eat fewer tortillas and more instant noodles, while global elites demand tacos made with handmade corn tortillas? This book examines the transformation of the Mexican food system since NAFTA and how it has made it harder for people to eat as they once did. The book contextualizes NAFTA within Mexico’s approach to economic development since the Revolution, noticing the role envisioned for rural and low-income people in the path to modernization. Examination of anti-poverty and public health policies in Mexico reveal how it has become easier for people to consume processed foods and beverages, even when to do so can be harmful to health. The book critiques Mexico’s strategy for addressing the public health crisis generated by rising rates of chronic disease for blaming the dietary habits of those whose lives have been upended by the economic and political shifts of NAFTA.

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