Deglobalization of the World Economy and its Effects on the Western Balkan Countries

2020 ◽  
Vol 58 (3) ◽  
pp. 343-362
Author(s):  
Nataša Stanojević
Keyword(s):  
Foreign Investment ◽  
Regression Models ◽  
World Economy ◽  
International Market ◽  
Economic Globalization ◽  
Inverse Relation ◽  
The World ◽  
Multiple Regression Models ◽  
World Economic ◽  
Key Aspects

Abstract This paper analyses trends in three key aspects of economic globalization: international trade, foreign investment and global product chains. The paper points to downward tendencies of the world economic integration in all three segments. The paper finds that causes of these trends are not cyclical, but structural, that is, the process of deglobalization of the international market and transformation of the very foundations of the international economic system is underway. The paper also includes an empirical analysis of the potential effects of these changes on six economies of the Western Balkan. The multiple regression models reveal very strong statistic connection between these economies and the world economy trends. There are direct relations with global foreign trade and production, but inverse relation with FDI share in the world economy. That indicates significant challenges such as declining income and job losses, but also certain opportunities to reduce trade deficits and increase domestic production.

ANALYSIS OF MODERN PROCESSES OF WORLD ECONOMIC GLOBALIZATION

2019 ◽  
pp. 23-31
Author(s):  
Svitlana E. TKACHENKO
Keyword(s):  
World Economy ◽  
Economic Globalization ◽  
International Economy ◽  
Present Stage ◽  
Negative Effects ◽  
Economic Relations ◽  
Stage Of Development ◽  
The World ◽  
World Economic ◽  
The Impact

Introduction. The article highlights the problems and prospects of globalization of international economic relations, identifies the importance of globalization for the sectors of the world economy structure, determines the impact of globalization on different groups of countries, examines the state and actual tasks of the globalization process of the international economy in conditions of innovation and integration, to positive and negative effects. One of the main problems of globalization is the potential global instability due to the national economies interdependence of the countries at the global level. The purpose of this article is to investigate the impact form of economic globalization on the competitiveness factors modification; the globalization conditions justification of national and world economic relations. Results. The study of the problem and perspectives in the context of the globalization concept disclosure of the world economy made it possible to define this process as a transformational internationalization of the world economy into a global system of international scale on the principles of openness, universality and interdependence. The essential features that lead to the globalization development of the world economy are at the present stage: the formation of the world information space, scientific and technological progress; economic integration; a new system of labor international division; the implementation of universal liberal-democratic values. Conclusions. Given the uneven distribution of the globalization benefits, of course, the negative effects of globalization processes in a particular country will significantly depend of the place, that this country occupies in the world economy. In this regard, three groups of threats, dangers, and potential problems have been identified, that arise at the present stage of development of economic activity internationalization, depending on which countries they may reach. Keywords: globalization, integration, international economy, competition, world economy, economic development, national economy, socio-economic relations.

The world and Russia: Inflation is minimal, economic growth is slowing, risks are rising

2019 ◽  
pp. 5-23 ◽  
Author(s):  
Mikhail V. Ershov ◽  
Anna S. Tanasova
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
World Economy ◽  
Domestic Demand ◽  
New Combination ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
Money Creation ◽  
Main Factors

Russian economy has reached the low level of inflation, but economic growth has not accelerated. Moreover, according to official forecasts, in the following years it will still be low. The article concludes that domestic demand, which is one of the main factors of growth, is significantly constrained by monetary, budgetary and fiscal spheres. The situation in the Russian economy is still hampered by the decline of the world economic growth. The prospects of financial markets are highly uncertain. This increases the possibility of crisis in the world. Leading countries widely use non-traditional measures to support their economies in the similar environment. In the world economy as well as in Russia a principally new combination of factors has emerged, which create specific features of economic growth. It requires special set of measures to stimulate such growth. The article proves that Russian regulators have large unused potential to stimulate growth. It includes monetization, long-money creation, budget and tax stimuli. It is important that the instruments, which will be used, should be based on domestic mechanisms. This will strengthen financial basis of the economy and may encourage economic growth. Some specific suggestions as to their use are made.

The World Economy through the Lens of the United Nations

2018 ◽  
Keyword(s):  
World War Ii ◽  
United Nations ◽  
Global Economy ◽  
World Economy ◽  
Social Conditions ◽  
Policy Recommendations ◽  
The Past ◽  
The World ◽  
World Economic ◽  
The United Nations

This volume documents the intellectual influence of the United Nations through its flagship publication, the World Economic and Social Survey (WESS) on its seventieth anniversary. Prepared at the Department of Economic and Social Affairs (DESA) and first published in 1948 as the World Economic Report (subsequently renamed the WESS), it is the oldest continuous post-World War II publication of this kind, recording and analysing the performance of the global economy and social development trends, and offering relevant policy recommendations. This volume highlights how well WESS has tracked global economic and social conditions, and how its analyses have influenced and have been influenced by the prevailing discourse over the past seven decades. The volume critically reflects on its policy recommendations and their influence on actual policymaking and the shaping of the world economy. Although world economic and social conditions have changed significantly over the past seven decades and so have the policy recommendations of the Survey, some of its earlier recommendations remain relevant today; recommendations in WESS provided seven decades ago seem remarkably pertinent as the world currently struggles to regain high levels of employment and economic activity. Thus, in many ways, WESS was ahead of the curve on many substantive issues. Publication of this volume will enhance the interest of the wider community of policymakers, academics, development practitioners, and members of civil society in the analytical work of the UN in general and UN-DESA in particular.

Foreign Private Investment in India 1920–1950

1978 ◽  
Vol 12 (4) ◽  
pp. 655-677 ◽  
Author(s):  
B. R. Tomlinson
Keyword(s):  
Foreign Investment ◽  
Economic History ◽  
Major Part ◽  
Private Investment ◽  
International Economy ◽  
The World ◽  
Foreign Private Investment ◽  
World Economic ◽  
Overseas Investment ◽  
Developed Nations

Overseas investment by developed nations in the less industrialized economies of Asia, Africa and Latin America is an important part of modern international economic history. Such investment has long been recognized as a potent force in integrating the international economy. It has also been placed at the heart of most theories of the expansion of European empires in the nineteenth century and it is seen as a major part of the ‘neo-colonialism’ that is widely thought to have characterized the world economic and political structure since 1945. This article will examine private foreign investment in India in the first half of the twentieth century, spanning the gap between the ‘imperial’ and the ‘neo-colonial’ epochs.

Arrighi’s Theory of systemic cycles of capital accumulation as a mechanism of cyclical development of the Global Economy

2021 ◽  
pp. 966-981
Author(s):  
Sergey Gennadyevich Kapkanshchikov
Keyword(s):  
Capital Accumulation ◽  
World Economy ◽  
Global Analysis ◽  
Methodological Approach ◽  
The United States ◽  
State Regulation ◽  
Economic Order ◽  
The World ◽  
World Economic ◽  
World Economic Order

The article uses the methodology of systemic global analysis and the theory of systemic cycles of capital accumulation to argue that we are now at a turning point of the modern era in connection with the unfolding change in the dominant world economic order. Based on the methodological approach, within the framework of which there is a hegemonic country and the rest of the world, the forecast regarding the forthcoming multipolarity of the world economy is rejected. Various stages of capital and financial expansion with their inherent, respectively, dirigistic and liberal models of state regulation of the economy are compared to each other. A chronological overview of the Spanish-Genoese, Dutch, British, American and Asian accumulation cycles is presented. The patterns of their change in the course of the formation of new technological structures are revealed. The place of Russia in the process of natural evolution of world economic structures is also identified. The objective and subjective reasons for the longterm hegemony of the United States, as well as factors of the upcoming completion of the American cycle of capital accumulation in the foreseeable future, are revealed. The author outlines the tactics employed by the American authorities to counteract the objective hegemonic cycles. The reasons for the movement of the center of the world economy to the East Asian region are revealed, with the justification of the need for a natural inclusion of Russia in the functioning of the Asian world economic order.

Transnational Protest and The Public Sphere

2005 ◽  
Vol 10 (1) ◽  
pp. 95-109 ◽  
Author(s):  
Michelle Beyeler ◽  
Hanspeter Kriesi
Keyword(s):  
Public Sphere ◽  
Media Coverage ◽  
Public Support ◽  
Economic Globalization ◽  
The Public ◽  
The World ◽  
World Economic ◽  
The Public Sphere ◽  
The Impact ◽  
Selection Of

This article explores the impact of protests against economic globalization in the public sphere. The focus is on two periodical events targeted by transnational protests: the ministerial conferences of the World Trade Organization (WTO) and the annual meetings of the World Economic Forum (WEF). Based on a selection of seven quality newspapers published in different parts of the world, we trace media attention, support of the activists, as well as the broader public debate on economic globalization. We find that starting with Seattle, protest events received extensive media coverage. Media support of the street activists, especially in the case of the anti-WEF protests, is however rather low. Nevertheless, despite the low levels of support that street protesters received, many of their issues obtain wide public support.

scholarly journals FEATURES OF GLOBAL INVESTMENT POLICY: MODERN TRENDS AND PROSPECTS

2019 ◽  
pp. 142-148
Author(s):  
Larisa Germanovna Chuvakhina
Keyword(s):  
Foreign Direct Investment ◽  
Foreign Investment ◽  
Direct Investment ◽  
World Economy ◽  
International Investment ◽  
Investment Policy ◽  
Investment Promotion ◽  
The Us ◽  
The World

The article highlights the current problems of investments in the development of the world economy, when international investment needs are significantly high. The priority is given to the issues of investment resources for achieving the goals of sustainable development of the world economy. It has been stated that for creating the effective economic policy, the countries need to attract foreign investment. The current trends in the development of global market for foreign direct investment flows are examined. The flows of global foreign direct investment in 2017-2018 are analyzed. Special attention is given to the study of the US investment policy. The reduction in US investments into the Russian economy in terms of the sanctions policy against Russia is marked. The changes in the investment policy of the administration of D. Trump in terms of strengthening American protectionism are underlined. The issues of US-EU investment cooperation are considered. The role of the US Federal Reserve in regulating the activities of foreign companies in the US market is defined. The main decisions taken at the X World Investment Forum of the United Nations Conference on Trade and Development in October, 2018 are considered. The role of investment promotion agencies is defined as one of the tools to attract foreign investments into the country's economy. The decrease in the level of international investment and increased competition between countries for attracting foreign investment is stated. The study confirms that the investment attractiveness of the country, stability of the national financial system, and legal security of business play a decisive role in attracting foreign direct investment.

scholarly journals The Impact of Domestic and Foreign Environment on China’s EconomicDevelopment

2020 ◽  
Vol 1 (1) ◽  
Author(s):  
Mengya Cao
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
World Economy ◽  
Industrial Structure ◽  
Negative Impact ◽  
Economic Losses ◽  
The World ◽  
World Economic ◽  
Short Time ◽  
The Impact

In recent years, the financial crisis has affected the economies of all countries in the world. At that time, it seriously restricted the development of the world economy. From a modern perspective, the difficult period of the world economic crisis caused by the financial crisis has passed, but the negative impact of the economic crisis can not be eliminated in a short time. Dispersed, the crisis has brought both opportunities and challenges to the country as well as heavy economic losses. Under the background of economic globalization, only by making a scientific and effective analysis of the world economic situation and keeping up with the trend of the world economy, can we effectively promote the domestic economic development and industrial structure, and enable our economy to develop healthily and substantially.

The World Economy

1997 ◽  
Vol 159 ◽  
pp. 28-56
Author(s):  
Julian Morgan ◽  
Nigel Pain ◽  
Florence Hubert
Keyword(s):  
World Trade ◽  
World Economy ◽  
Fiscal Consolidation ◽  
The Third ◽  
The North ◽  
External Demand ◽  
The Us ◽  
The World ◽  
World Economic ◽  
The Uk

There are now widespread signs that activity in the world economy has begun to recover steadily from the pause in growth apparent at the beginning of 1996. Output rose by 0.6 per cent in the North American economies in the third quarter of last year and by 0.8 per cent in Europe. Business and consumer sentiment has improved gradually in recent months in most of the major economies. We expect world economic growth to pick up further over the course of this year as the contractionary effects from the downturn in world trade and prolonged inventory adjustment come to an end and as the effects from a more relaxed monetary stance begin to outweigh those from ongoing fiscal consolidation. Recent currency movements should help to stimulate external demand in Germany, France and Japan, but may act to constrain growth within the UK, Italy and the US. For both this year and 1998 we expect growth of around 2½ per cent per annum in the OECD economies.

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